ADVERTISEMENT

Insurersʼ premium revenues climb 8% in Q1

Telco

shutterstock

First-quarter revenue from premiums of Hungarian insurers rose 8% year-on-year to HUF 275.6 billion, fresh data compiled by the National Bank of Hungary (MNB) show, as reported by state news agency MTI.   

Revenue from premiums on general insurance policies increased by 9% to HUF 157.0 bln. This included HUF 54.9 bln in revenue from premiums on mandatory vehicle insurance policies, which climbed 12%. Revenue from premiums on life insurance policies rose 7% to HUF 118.6 bln.   

Payouts on claims were flat at HUF 141.6 bln. Payouts on claims for general insurance policies fell 4% to HUF 50.8 bln, while payouts on life policies edged up 2% to HUF 90.9 bln. 

Combined after-tax profits of insurers rose 41% to HUF 22.3 bln in the first quarter.

Hungarian insurersʼ revenues from premiums rose 7% to HUF 984.5 bln in 2017, a separate MTI report said Wednesday.

Revenue from premiums on life insurance policies rose 5% to HUF 477.8 bln last year, while revenue from premiums on general insurance climbed 9% to HUF 506.8 bln. Within the latter, revenue from premiums on mandatory vehicle insurance increased 15% to HUF 150.8 bln.

ADVERTISEMENT

Purchasing Managers' Index rises Analysis

Purchasing Managers' Index rises

Lawmakers approve residency permit for digital nomads Parliament

Lawmakers approve residency permit for digital nomads

The strongest move - Morgan Stanley Hungary head and Chess F... Podcasts

The strongest move - Morgan Stanley Hungary head and Chess F...

New Jewish cultural hub opens in Budapest City

New Jewish cultural hub opens in Budapest

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.