Generali-Providencia revenues climb 12%
Hungarian insurer Generali-Providencia Biztositó said its revenue from premiums rose 12% to Ft 138.3 billion in 2007.
Revenue from life insurance policies with regular premium payments grew 10% or Ft 3.2 billion. But revenue from policies with one-time premiums jumped 90% to Ft 20.7 billion.
Generali-Providencia's stock of health and accident policies with regular premium payments grew 16% to Ft 437 million in 2007. The company signed 98,000 new home insurance policies, raising total stock to 530,000. The value of the stock rose Ft 2 billion to Ft 17.4 billion.
Generali-Providencia's revenue from mandatory vehicle insurance fell by 3% to Ft 17 billion because of lower average premiums. Revenue from premiums for comprehensive vehicle insurance policies decreased 6% to Ft 24.8 billion as vehicle sales dropped and average premiums fell.
Revenue from premiums for unit-linked policies rose 70% to Ft 60.9 billion.
Generali-Providencia's invested assets, excluding assets for unit-linked policies, climbed 5.4% to Ft 205 billion.
Generali-Providencia is Hungary's second-biggest insurer after Allianz, based on figures compiled by the Hungarian Association of Insurers (MABISZ). (MTI-Econews)
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.