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.
25 January 2018
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.
8 January 2018
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).
14 December 2017
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.
7 December 2017
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.
5 December 2017
Telenor Hungary has introduced three insurance schemes for recently purchased handsets, both for postpaid residential and business customers.
30 October 2017
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.
19 September 2017
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).
14 September 2017
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.
6 July 2017
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.
5 July 2017
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.
27 June 2017
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.
27 April 2017
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.
20 April 2017
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.
19 April 2017
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.
13 April 2017
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.
10 April 2017
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.
3 April 2017
Hungarian insurance market ended 2016 with GWP of HUF 886 billion (EUR 2.85 billion), about 6% up y-o-y, benefitting especially from the positive effect exerted by the MTPL premium increase on the underwriting volume.
23 March 2017
Policyholders of unit-linked life insurance products pay an agreed sum for the unit-linked insurance to the insurance company, as a regular premium, or in one lump sum. These payments cover the life insurance component as well as the investment, administrative costs, contracting fee and the commissions. The "total cost charged" ("TCC") is an indicator - calculated in line with the rules of Hungarian insurance regulations - showing all costs charged on life insurance policies having a savings element, reflected as a percentage value. The regulation of the TCC in Hungary has been amended effective 1 January 2017.
9 March 2017
Belgium's KBC Group booked net income of EUR 23 million at its business in Hungary in the fourth quarter, down from EUR 42 mln in the same period a year earlier as income tax expenses jumped, state news agency MTI has reported, citing an earnings report released today.
13 February 2017