Revenue climbed three times faster than the 1.6% average in the Hungarian insurance business, Groupama Garancia calculates.
Revenue from premiums on life insurance policies came to HUF 56.6 billion. Revenue from premiums on general insurance policies reached HUF 44.7 billion.
The company’s profit came to HUF 3.47 billion, one third of that in the previous year. Excluding the effect of an extraordinary financial sector tax, profits would have reached HUF 6.52 billion, down just 14% from the previous year, Menetrier said.
Groupama Garancia paid out HUF 7.26 billion on claims related to natural disasters in 2010. Damages covered by farm insurance policies grew by HUF 1 billion, or 70%.
Groupama Garancia maintained its position as runner-up on the home insurance market. In the asset and liability insurance segment, the company’s revenue from premiums jumped 74%. Revenue from premiums on big corporate and industrial policies was up 9%.
This year, Groupama Garancia will focus on savings, especially individual retirement accounts, said deputy-CEO István Csonka.
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