CIG Pannonia closes successful year
CIG Pannónia Life Insurance had before-tax revenue of HUF 954 mln in 2014, up by HUF 187 mln from the previous year, the company said in a press release today.
The company saw a gross fee income of HUF 14.42 bln in 2014, down by 13.7% as compared to the previous year. HUF 12.761 bln of this income was collected from regular fees and HUF 1.659 bln constituted occasional fees.
“The company further diversified its sales channels and reconsidered its insurance mediator network, which lead to terminating the contract with Quantas”, the press release said, adding that the increased sales from the company’s own broker network was able to compensate for losses resulting from the termination of the Quantas contract.
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.