ADVERTISEMENT

CIG Pannónia expands to Baltic states

Deals

Hungarian insurer CIG Pannónia is making inroads into markets in two of the Baltic states through its general insurance unit Első Magyar Általános Biztosító (EMABIT), the company told national news agency MTI.

EMABIT will introduce new products in Lithuania from March and will also start operating in Latvia, CIG Pannónia said. The expansion will raise the number of foreign markets in which EMABIT has a foothold to seven.

The company started selling mandatory liability insurance tailored to truck drivers in Poland in 2012. A year later, it began offering freight insurance in Lithuania. It has been present in Italy since 2014 and in Spain since 2017. It also offers targeted insurance products in Slovakia and Romania.

Last December, Holding company Konzum announced its aim to acquire a 24.85% share in CIG Pannónia by raising capital through a private placement.

ADVERTISEMENT

Czech economic confidence weakens in November Analysis

Czech economic confidence weakens in November

Lawmakers approve residency permit for digital nomads Parliament

Lawmakers approve residency permit for digital nomads

The strongest move - Morgan Stanley Hungary head and Chess F... Podcasts

The strongest move - Morgan Stanley Hungary head and Chess F...

New Jewish cultural hub opens in Budapest City

New Jewish cultural hub opens in Budapest

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.