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Hungary: New regional insurance company to start operation

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A new insurance firm, Central European Insurance (CEI), will apply for admission to the corporate registry in a couple of weeks. The firm will launch with capital of Ft 2.5 billion.

The company to be owned by well-known Hungarian entrepreneurs aims at entering the stock exchange as well. Béla Horváth (formerly with NN and Mébit) will serve as president/CEO; further co-owners include former finance minister and ex-central bank governor Zsigmond Járai; Academy of Science president Szilveszter Vizi E.; gallery owner Tamás Kieselbach; Elek Straub, ex-general manager of Matáv; Gábor Móricz, general manager of Kaptár Zrt; and Tamás Korányi, editor-in-chief of daily Napi Gazdaság.

The area of operations outside Hungary will include Yugoslavia, Romania, Bulgaria, and may be expanded to further countries in the region.

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