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Genertel expects higher than targeted revenue from premiums

Hungary’s Genertel, the recently established unit of Generali-Providencia that sells mandatory car insurance over the telephone and on the internet, expects to close 2008 with revenue from premiums of Ft 2.45 billion, one-third over the target.

Genertel already has 100,000 clients, CEO Dániel Csikós said. Next year, it plans to boost this number to 150,000, he added.

Answering a question by MTI, Csikós said Genertel would become profitable around 2012, in line with the business strategy.

Almost 28,000 of Genertel's clients were former clients of MÁV ÁBE, whose licence was recently withdrawn by financial market regulator PSzÁF, he said. (MTI – Econews)