At the end of July 2020, the Hungarian insurer CIG Pannonia annoucned that that employment of the CEO - Gabriella KADAR and Deputy CEO - Miklos BARTA of the company - will end on September 30, 2020.

"With effect from1 August 2020, the Board of Directors will enter into an employment contract with Istvan FEDAK, to holdt he position of Deputy Chief Executive Officer of the Company and its subsidiary. And from 1 October 2020, with effect from the MNB's license, for the position of CEO and the number one executive position".

Last week, CIG Pannonia announced that MNB approved Istvan FEDAK as the new head of the company by its decision no. H-EN-II-89/2020, thus Istvan FEDAK will replace Gabriella KADAR in the CEO position from October 1st.