CIG Pannonia reported solid results for ‘23
CIG Pannonia (Pannonia) reported a PAT of HUF 1.51bn for Q4/23 compared to HUF
0.95bn in Q4/22 (+59% YoY) and HUF 0.77bn in Q3/23 (+96% QoQ). Other
comprehensive income including the changes in the fair value of other financial
assets (OPUS shares and government securities) valued at fair value was HUF 1.77bn
compared to HUF 1.17bn in Q4/22. Total comprehensive income came in at HUF
2.2bn in Q4/23, up from HUF 1.75bn in Q4/22.
CIG Pannonia Eletbiztosito Nyrt. CIG Pannonia Eletbiztosito Nyrt (Cig Pannonia Life Insurance Plc) is a Hungarian-based company active in the insurance sector. The Company offers insurances for pensioners, including funeral and inheritance policy, entrepreneurs, families and recent graduates. The Company's portfolio comprises Unit-linked Life Insurance, Endowment Life Insurance, Term Life Insurance, Alkony Life Insurance and Retirement Life Insurance as well as Accidental Benefit Rider and Premium Assistance Rider. As of December 31, 2011, the Company operated four wholly owned subsidiaries, including CIG Pannonia EMABIT Ltd, Pannonia Biztositaskozvetito LLC and Pannonia PI-ETA LLC, all based in Hungary, as well as TISIA Expert Srl, based in Romania.
Concorde Securities Ltd. is Hungary’s leading independent company engaged in investment banking activities. It provides its clients with integrated financial services, including securities trading, research, corporate financing advisory, capital market transactions, wealth management and investment advisory. The operational management of the company is the responsibility of the CEO, while the owners/managers (who control one-third of the company through their shares and options) are in charge of its strategic governance. Concorde Securities Ltd. is a member of the Budapest, Frankfurt, Warsaw and Bucharest stock exchanges, as well as of the Hungarian Association of Investment Service Providers.
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