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Insurersʼ premium revenues climb 8% in Q1

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.