CIG Pannonia premium climbs, losses narrow in Q1-Q3

Telco

CIG Pannonia Life Insurance’s revenue from premiums rose and losses narrowed slightly in Q1-Q3 from the same period a year earlier, the listed company’s unaudited consolidated IFRS report published Wednesday shows.

Revenue from premiums climbed 34% to HUF 19.01bn in Q1-Q3 from the same period a year earlier. Losses edged down to HUF 2.33bn from HUF 2.24bn.

Payouts on claims were up 68% at HUF 3.89bn.

Fees, commissions and other costs rose 12% to HUF 8.53bn Administration costs increased 36% to HUF 2.99bn.

The number of new unit-linked policies sold in the period dropped 4% to 11,902. Premiums on the stock fell at the same rate to HUF 6.91bn.

CIG Pannonia had total assets of HUF 37.35bn on September 30, up 62% from twelve months earlier. Net assets climbed 118% to HUF 5.87bn.

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