Signal Insurance revenue from premiums rises 28%

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Signal Insurance's revenue from premiums rose 28% to HUF 17.7 billion last year, chairman-CEO Tamás Kalózdi said in Budapest on Tuesday.

Revenue from premiums on unit-linked life insurance rose to HUF 8.2 billion from about HUF 5 billion. General insurance generated HUF 6 billion of revenue from premiums, up from HUF 5 billion.

Signal Insurance projects a 30% increase in revenue from premiums in 2014, Kalózdi said. He noted that Signal Insurance is now one of the top ten insurance companies in Hungary.

Signal Insurance's revenue from premiums climbed 36.4% to HUF 5.9 billion in the first quarter from the same period a year earlier. At the same time, the market as a whole contracted by 1.6%.

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