CIG Pannonia premium climbs, losses narrow in Q1-Q3

Telco

CIG Pannonia Life Insurance’s revenue from premiums rose and losses narrowed slightly in Q1-Q3 from the same period a year earlier, the listed company’s unaudited consolidated IFRS report published Wednesday shows.

Revenue from premiums climbed 34% to HUF 19.01bn in Q1-Q3 from the same period a year earlier. Losses edged down to HUF 2.33bn from HUF 2.24bn.

Payouts on claims were up 68% at HUF 3.89bn.

Fees, commissions and other costs rose 12% to HUF 8.53bn Administration costs increased 36% to HUF 2.99bn.

The number of new unit-linked policies sold in the period dropped 4% to 11,902. Premiums on the stock fell at the same rate to HUF 6.91bn.

CIG Pannonia had total assets of HUF 37.35bn on September 30, up 62% from twelve months earlier. Net assets climbed 118% to HUF 5.87bn.

ADVERTISEMENT

European e-commerce soars during pandemic - study Analysis

European e-commerce soars during pandemic - study

Lawmakers approve 2022 budget Parliament

Lawmakers approve 2022 budget

Duncan Graham reelected as BCCH president Appointments

Duncan Graham reelected as BCCH president

Budapest launches revamped coupon card for visitors City

Budapest launches revamped coupon card for visitors

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.