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Report: CIG Pannonia premiums revenue reaches HUF 3.8 bln

Telco

CIG Pannoniaʼs second-quarter gross revenue from premiums saw a year-on-year rise of 19%, reaching HUF 3.83 bln, while gross revenue from premiums of the company’s general insurance business reached HUF 773 mln, the insurer said in an earnings report early this morning.

The earnings report reveals that although investment income was only HUF 18 mln, a significant drop compared to the HUF 2.18 bln income in the same period last year.

The earnings report added that total revenue came to HUF 3.87 bln, down from HUF 5.59 bln a year earlier mostly because of the smaller investment income.

Payouts on claims rose 32% to HUF 2.08 bln, operating costs were down 5% at HUF 1.30 bln, while net profits were HUF 370 mln in 2015 Q2, up 91% compared to the second quarter of 2014.

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