CIG Pannónia would pay a HUF 18 dividend per share

By RockedBuzz 23 Min Read

CIG Pannónia ended 2022 with a performance increase that can be called fair: in addition to a 42% increase in premium income, profit would have increased by 8% if it were not for the additional tax introduced by the government last year, which ultimately took away about a third of the insurer’s net profit: HUF 599 million . Thus, in the end, it is 28% smaller than the previous year, With a taxable profit of HUF 1.2 billion the company closed the year – we wrote on February 28.

The fresh document states that the company is moving along the growth strategy announced on July 19, 2021, its details can be read here. The formulated tasks and further plans both on the financing side and in the issue of solvency capital

additional resources are required in the following years, the reserve of which is provided by the company’s management without the use of loans or other external sources

it implements it using the available resources and intends to implement it primarily in the future, they said. The results achieved so far have already enabled them to pay dividends after the 2021 business year. The board emphasizes the importance of a conservative dividend policy, despite the turbulent economic situation

proposes to pay dividends again this year. They attach great importance to the presence of the public sector,

which is “the basis of sufficient liquidity and shareholder control, as well as the guarantee of a long-term regulated market presence, thus expressing the hope that the proposal will further strengthen the efforts to create and retain a circle of investors optimized for the company’s operation.”

It is proposed that the dividend be paid after the year 2022

  • HUF 18 per share be what
  • for 94,428,260 shares regarding
  • altogether 1.7 billion it would be HUF.

The group’s consolidated capital adequacy according to Solvency II was 207 percent at the end of 2022, so it significantly exceeded the 150 percent level expected by the supervisory authority, including a 50 percent volatility buffer.

Development of CIG Pannonia’s exchange rate

chart 44084

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