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CIG Insurance sustains HUF 2.5 billion in losses in Q1-Q3

CIG Pannonia Life Insurance sustained net losses of HUF 2.5 billion in Q1-Q3 2010, the company announced on Thursday.

CIG Pannonia had revenue from premiums of HUF 15.2 billion in the first nine months of this year compared to HUF 6.6 billion in the same period one year earlier. All but HUF 63 million of this revenue stemmed from investment-linked life insurance policies. One-off premiums amounted to HUF 5.76 billion. Damage-compensation payments and services came close to HUF 3 billion.

Net results for the first nine months included payment of HUF 314 million of the HUF 418 million extraordinary financial-sector tax for the year 2010. (MTI-Econews)