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ING profits increase 10% to Ft 6 bln in 2005

ING Insurance Rt had unaudited after-tax profit of Ft 6 billion in 1005, more than 10% over the previous year's profits, CEO György Bordás announced on Tuesday.

ING's revenue from premiums rose 17.8% to Ft 84.8 billion in 2005, giving it 28.07% of the market and making it Hungary's biggest life insurance company. Bordás said 2005 was the company's most successful year ever since setting up in Hungary in 1997.
ING Insurance managed assets of Ft 590 billion at the end of 2005, including technical reserves of Ft 220 billion, pension funds assets of Ft 249 billion and Ft 120 billion in unit-linked insurance policies handled by ING's investment fund manager.