Revenue from premiums on life insurance policies climbed 10% to HUF 149.97 billion (EUR 412 million), while non-life GWP rose 5% to HUF 210.33 billion (EUR 578 million). About 42% of premium income originated from the life insurance business and 58% from the non-life insurance business.
At the end of 2021 Q1, the total contract portfolio of insurance companies remained broadly unchanged, rising by 0.2% from its level a year earlier, reflecting more than 32,800 increase in new contracts. This mainly resulted from a 0.5% rise in the number of non-life insurance contracts, accompanied by a somewhat declining number of life insurance contracts (a decline of 0.9%). As a result, the total number of insurance contracts exceeded 14.4 million at the end of 2021 Q1.
In terms of claims, overall, total incurred claims (payments and change of reserves summed-up) decreased by 6.8% y-o-y to HUF 159.5 billion. Life incurred claims decreased by 0.7% y-o-y, while the same indicator in non-life totaled HUF 50.83 billion, 17.62% less y-o-y.
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