Report: CIG Pannonia premiums revenue reaches HUF 3.8 bln
CIG Pannoniaʼs second-quarter gross revenue from premiums saw a year-on-year rise of 19%, reaching HUF 3.83 bln, while gross revenue from premiums of the company’s general insurance business reached HUF 773 mln, the insurer said in an earnings report early this morning.
The earnings report reveals that although investment income was only HUF 18 mln, a significant drop compared to the HUF 2.18 bln income in the same period last year.
The earnings report added that total revenue came to HUF 3.87 bln, down from HUF 5.59 bln a year earlier mostly because of the smaller investment income.
Payouts on claims rose 32% to HUF 2.08 bln, operating costs were down 5% at HUF 1.30 bln, while net profits were HUF 370 mln in 2015 Q2, up 91% compared to the second quarter of 2014.
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.