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CIG Pannónia premium revenue up almost 7% in Q1-Q3

Gross revenue from premiums of Hungaryʼs CIG Pannónia Life Insurance rose almost 7% year-on-year to HUF 13.2 billion in Q1-Q3, an earnings report released early today shows, according to Hungarian news agency MTI.

Net investment expenses as well as changes in reserves and benefits jumped 17% to HUF 9 bln. Operating costs climbed 6% to HUF 4.1 bln. After-tax profit slipped 41% to HUF 463 mln.

It was announced on October 7 that the board of directors of CIG Pannónia Life Insurance had decided to purchase peers MKB General Insurance and MKB Life Insurance. The acquisition was cleared a month later.