While the Hungarian financial services market is forced to navigate new legislation, the insurance sector continues to thrive by using digitalisation to meet clients' demands.

Hungarian insurer CIG Pannonia is making inroads into markets in two of the Baltic states through its general insurance unit Elso Magyar Altalanos Biztosito (EMABIT), the company told national news agency MTI.

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The National Bank of Hungary (MNB) announced on its website it approved the merger of the three local subsidiaries of the Austrian VIENNA Insurance Group into one company. Gabor LEHEL, CEO of UNION Biztosito, will be Chairman of the Board of the resulted entity after the merger.

MCI Group has acquired Netrisk, a Hungarian online insurance broker. The value of the deal is 56.6 million euros (about USD 67.8 million). Mezzanine Management and Bank Gospodarstwa Krajowego are co-investors in the transaction.

Hungarian insurers nine-months GWP was up by 6.6% y-o-y to HUF 711.2 billion (EUR 2.3 billion), according to the most recent market figures published by the National Bank of Hungary (MNB).

The number of cars not covered by MTPL insurance in Hungary has decreased substantially during the last five years, from 5.8% to 1.8%, as in September 2017, MABISZ - the Hungarian insurers' association said.

Q1-Q3 revenues from premiums of Hungarian insurer CIG Pannonia  Group rose 41% year-on-year to HUF 18.6 billion, the company said in an unaudited, consolidated IFRS earnings report released early Tuesday, as reported by state news agency MTI.

Telenor Hungary has introduced three insurance schemes for recently purchased handsets, both for postpaid residential and business customers.

Insurance companies have paid out almost HUF 6 billion in compensation for damage caused to residential properties in Hungary by storms this summer, the Association of Hungarian Insurance Companies (Mabisz) told state news wire MTI Monday.

Hungarian insurers first half GWP was up by 6.16% y-o-y to HUF 485.81 billion (EUR 1.57 billion), according to the most recent market figures published by the National Bank of Hungary (MNB).

The Hungarian insurance market totaled HUF 254.7 billion (EUR 825 million) at the end of March 2017, 8.5% more y-o-y, according to the statistics published by the Central Bank.

CIG Pannonia Life Insurance Plc.  hereby notifies its shareholders and other capital market participants that the Company Registry Court of Budapest - Capital Regional Court registered the merger by acquisition of Pannonia Life Insurance cPlc. into the Company and the merger by acquisition of Pannonia General Insurance cPlc. into CIG Pannonia First Hungarian General Insurance Company Ltd.

CIG Pannonia Life Insurance said Friday the National Bank of Hungary (MNB) has approved the transfer of its home and mandatory vehicle insurance policies to Aegon Magyarorszag, Hungarian news agency MTI reported.

Austrian insurer VIENNA Insurance Group (VIG) announced it will merge its three Hungarian subsidiaries - ERSTE Biztosito, UNION Biztosito and VIENNA Life Biztosito - into one company.

Hungarian insurer CIG Pannonia announced it will merge into its units (CIG Pannonia Life Insurance and CIG Pannonia First Hungarian General Insurance) the two MKB insurers recently acquired: MKB Life Insurance and MKB General Insurance.

MKB General Insurance has been fined HUF 3 million by the National Bank of Hungary (MNB) on charges of engaging in "misleading advertising practices," according to a report by state wire service MTI.

The thirty active members of MABISZ (the Hungarian insurance association) posted aggregate FY2016 GWP of HUF 920.6 billion (~ EUR 2.9 billion), up by 5.1% y-o-y, according to the association's website.

NN Group recently opened its first international innovation lab - Sparklab Hungary. Sparklab welcomes startups and freelancers in Hungary who aim to explore and expand ideas supporting the improvement of quality of life. It follows the example of several successful innovation labs in the Netherlands and will be NN's first international initiative. It is the first innovation lab in  Hungary in the field of insurance. Sparklab will use lean start-up techniques and support selected ideas with coaching, mentoring, location and other resources.

CIG Pannonia Life Insurance notifies its Esteemed Shareholders and other capital market participants that the general meeting of Pannonia General Insurance decided to transfer the home insurance, condominium insurance and compulsory vehicle liability insurance portfolio to Aegon Hungary General Insurance with the effect from the date of the supervisory authorization.