CIG Pannonia premiums revenue drops 29%

Telco

CIG Pannonia Life Insurance's consolidated gross revenue from premiums fell by 29% to HUF 11.1 bln in Q1-Q3 as compared to the same period a year earlier, an earnings report published today revealed.

Despite the drop, the company booked a HUF 257 mln profit in the first three quaters of the year while it saw a HUF 337 mln loss in the base period. Investment income jumped to HUF 6.32 bln from HUF 815 mln and operating costs fell 28% to HUF 4.42 bln, contributing to the improvement.

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