KBC’s insurance business generated revenue from premiums of €14 mln in the general segment, down 13%, and €3 mln in the life segment, level with the same period a year earlier.
KBC noted that the business in Hungary had a €139 lnm loss in the previous quarter as it booked a provision for compensation it expected to pay under borrowers’ relief legislation approved in the summer. The impact of the law was set to come to €183 lnm, after tax, KBC noted.
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