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Generali-Providencia premium revenue drops 4.8% to HUF 127.7 billion in 2009

Generali-Providencia Biztosító's revenue from premiums fell 4.8% to HUF 127.7 billion in 2009, the insurer told MTI on Thursday.

The drop was less than the 6.7% contraction on the market as a whole, the company noted.

Generali-Providencia closed 2009 with after-tax profit of HUF 13 billion.

Revenue from premiums on life insurance policies came to HUF 43.5 billion, including HUF 7.2 billion on polices with one-time premiums.

In the general insurance segment, revenue from premiums on mandatory vehicle insurance policies fell 6.7% to HUF 16.3 billion.

Generali-Providencia had a 22% share of the market for insurance on assets.

The company paid out about HUF 23 billion on claims from 75,000 vehicle insurance policy holders. It paid out about HUF 20 billion in claims for asset insurance policies.

Generali-Providencia's invested assets, excluding unit-linked life insurance products, inched up 0.7% to HUF 205.5 billion. Stock of unit-linked products rose 31.5% to HUF 75.5 billion. (MTI-Econews)