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Allianz reported solid revenue growth in H1

Insurer Allianz Hungária Zrt booked HUF 102 billion in gross premium revenue in the first half of 2010, up 22% from the year-ago period. The solid revenue growth was helped by rising life contracts, while premium from non-life policies fell 6% to HUF 66.6 billion. Operating profit at the insurance unit dropped more than a third to HUF 6.9 billion in January-June as claims poured in in the wake of the spring floods, forcing Allianz to eventually pay out about HUF 4.4 billion in damage claims. Company-level operating profit fell to HUF 9.1 billion from HUF 13.1 billion. (BBJ)