BUDAPEST: Insurance company CIG Pannónia has posted a HUF 218 million net profit for the second quarter according to HAS, its best quarterly result to date.
The life insurance division grew its customer base by 7%, and regular premium revenues increased 9%, although there was a 9% drop in life insurance revenue in general. The asset insurance division increase its revenues by 83% compared to a low base last year.
CIG’s stock of life insurances and insurance technical reserves remained unchanged from a year earlier.
Overall, the company’s life insurance operations were largely unchanged, and the 20% increase in profit stems from decreasing losses on CIG’s other investments.
