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Aegon Magyarország premiums jump 44% in 2009

Aegon Magyarország's revenue from premiums on general insurance climbed 44% to HUF 41.8 billion in 2009, while revenue from premiums on life insurance policies fell 3% to HUF 41 billion, CEO Péter Zatykó said at a press conference on Wednesday.

Aegon's IFRS after-tax profit rose 9% to HUF 21 billion, Zatykó said. Pre-tax profit increased 12% to HUF 26.3 billion.

Aegon signed new mandatory vehicle insurance contracts for 150,000 vehicles in 2009, up from 100,000 in 2008, but revenue from premiums was flat as the company had to lower premiums to stay competitive.

In the life segment, new contracts worth HUF 3.5 billion were signed in 2009, down 15% from the previous year. The value of new life insurance policies with one-off premiums fell 83% to HUF 800 million.

New home insurance contracts were worth HUF 2.9 billion in 2009, up 9% from the previous year. Aegon controls 32% of the home insurance market, making it the biggest player in the segment.

Aegon's voluntary and private pension funds had 803,000 members at the end of 2009, practically unchanged from a year earlier. Assets of the funds came to HUF 604 billion.

Lending Arm Aegon Hitel signed new loan contracts for HUF 14 billion with 1,400 clients. (MTI-ECONEWS)