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Allianz Hungária revenue from premiums edges up to HUF 165 bln in 2010

Insurer Allianz Hungária had revenue from premiums of HUF 164.9 billion in 2010, up 1.5% from the previous year, the parent company told MTI on Friday.

Revenue from premiums on general insurance policies fell 20% to HUF 115.2 billion. Revenue from premiums on life and health insurance policies rose 45% to HUF 49.7 billion.

Operating profit fell to HUF 4.3 billion because of the extraordinary levy on financial sector companies as well as claims on damages caused by extreme weather, Allianz said.

Allianz Hungária had operating profit of HUF 20 billion in 2009, Econews reported earlier.

Assets managed in Allianz's pension fund unit rose 28% to HUF 521 billion.

Allianz's share of the Hungarian market reached 19.8% in 2010, according to data from the Hungarian Insurers Association (MABISz).