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Achievements

Ever since it was set up, CIG Pannónia Life Insurance has been able to generate outstanding business results year after year and has become a market leader in a number of segments.

Although the first financial year was not a full year as the company had been launched in May 2008, the premium revenue target of HUF 800 million was exceeded considerably as the actual figure was close to HUF 4 billion by the end of the year. In the third quarter of that year, the Company became market leader in newly sold regular-premium unit-linked life insurance policies based on the average annual premium and in the fourth quarter it led the market in new acquisitions of such policies.

In 2009, it reached market leadership regarding both the total portfolio premium and the average annual premium of the newly sold regular-premium unit-linked life insurance policies. The total premium revenue of almost HUF 12 billion meant a 3% market share in the domestic life insurance market.

In 2010, the Company generated double the premium revenue of the previous year, totalling HUF 25.8 billion. The market share grew to 5.8%. The gross premium revenue’s growth was primarily the result of a steep increase in new sales of unit-linked life insurance policies and the renewal premium of the existing life insurance portfolio. The combined portfolio premium of the over 17,000 unit-linked insurance policies sold in 2010 was HUF 10.2 billion and the average annual premium of the policies was HUF 590,000 in the same year. In the market segment of newly sold unit-linked insurance policies, the 20% market share meant that the Company had strengthened its leadership position.