Erste Insurance premiums revenue up 4.5% last year

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Erste Insurance had annual revenue from premiums of HUF 16.7 billion in 2015, up 4.5% compared to 2014, CEO-president Zsolt Raveczky said yesterday, according to Hungarian news agency MTI.

Pre-tax income was HUF 623 million last year, up 7.8% from 2014. After-tax profit grew 4.3% to HUF 588 mln. 

Insurance contract numbers in 2015 reached 69,000, and 88% of these were regular premium life insurance products. 

According to Raveczky, last year the focus was on pension insurance products and on premium clients, as part of the companyʼs strategic partnership with Erste Bank. 

Payouts on claims decreased by 29.1% to HUF 8.5 bln last year compared to 2014. Reserves were over HUF 58 bln and managed assets reached nearly HUF 60 bln.

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