The sale and purchase agreement was signed on October 7, MTI recalled. The transaction still requires approval from the National Bank of Hungary (MNB).
It was announced on October 7 that the board of directors of CIG Pannónia Life Insurance had decided to purchase peers MKB General Insurance and MKB Life Insurance.
CIG Pannónia Life Insurance reportedly acquired 98.97% of the shares of MKB Life Insurance, while subsidiary CIG Pannónia First Hungarian General Insurance will purchase 98.98% of the shares of MKB General Insurance from Versicherungskammer Bayern.
Producing journalism that is worthy of the name is a costly business. For over 30 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.
