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Generali premiums revenue edges down to HUF 111 bln

Telco

Revenue from premiums of the Hungarian businesses of Italy's Generali edged down 1% to HUF 111 bln last year, Mihály Erdős the head of the local unit told MTI.

Hungary's Generali Group had after-tax profit of HUF 4.5 bln, up 150%, Erdős said. He added that fixed costs had fallen 5% during the period. Revenue from premiums on life insurance policies rose 3% to HUF 39 bln. Revenue from premiums on general policies practically stayed unchanged at HUF 77.4 bln.

According to Erdős revenue from premiums is aimed to increase by 1-2%, this year. He said the company would work in order to keep its 17% market share.

In the first quarter, consolidated revenue from premiums of the Hungarian business , adjusted to reflect the full terms of single-premium policies, rose 2.4% to HUF 32.9 bln from the same period a year earlier. Revenue from premiums on general insurance policies was up 2.8%.

-- Christian Keszthelyi contributed to this article

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