First-quarter revenue from premiums of Hungarian insurers inched up 0.5% year-on-year to HUF 572 billion, data released by the National Bank of Hungary (MNB), and reviewed by MTI, show.
Revenue from premiums on life insurance policies decreased 8.5% to HUF 212 billion. Revenue from premiums on general insurance policies climbed 6.7% to HUF 360 billion.
Revenue from premiums on compulsory vehicle insurance was down a fraction at HUF 108 billion, while revenue from premiums on comprehensive vehicle polices rose 4.3% to HUF 61 billion.
Revenue from premiums on home policies increased 1% to HUF 62 billion.
Insurers' after-tax profit jumped 50% to HUF 40.8 billion during the period.
The 0.8% increase in insurers’ total policy portfolio represents more than 124,000 new policies, resulting from a 1.7% rise in life insurance policies and a 0.6% rise in non-life insurance policies. The number of policies exceeded 16.1 million at the end of the first quarter of this year.
Among life insurance products, death benefits account for the largest share, while among non-life insurance products, motor liability insurance has the largest portfolio.
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