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Generali Providencia profits increase 90% in 2005

Insurance company Generali Providencia Zrt had after-tax profit of Ft 7.9 billion in 2005, 90% more than in 2004, president-CEO Mátyás Pálvölgyi announced on Wednesday. The record profit was due to financial profits, Pálvölgyi said.

 

Generali Providencia had premium revenue of Ft 106 billion in 2005, 4% more than in 2004. It managed assets worth Ft 200 billion at the end of 2005. The company will pay out a Ft 4 billion dividend on last year's profits to shareholders, Pálvölgyi said.