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CIG Pannónia, Hungarian Bankholding sign 20-year strategic coop deal

Banking

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CIG Pannónia Group has signed a 20-year strategic cooperation framework agreement with Hungarian Bankholding member banks, MKB Bank Nyrt., Takarékbank Zrt. and Budapest Bank Zrt., creating the largest insurance sales network in Hungary, according to a press release sent to the Budapest Business Journal.

Under the strategic cooperation, CIG insurance products will be available in the branches of the three banks.

"For CIG Pannónia Insurance, this strategic agreement is a significant professional milestone, as it brings us closer to achieving one of our strategic goals, namely to grow even further, and as the direct insurer of the new superbank, to become a stable, leading insurance company on the Hungarian market. We will ensure high quality for all our clients and partners, thus supporting the strategy of creating the basis for a long-term predictable revenue and dividend policy for our investors and owners", said Zoltán Polányi, CEO of CIG Pannónia Insurance.

Ildikó Ginzer, Hungarian Bankholding's deputy chief business officer of standard services, emphasized, "We want to serve our customers with modern, market-leading and domestically developed products, tailored to their needs at affordable prices, and we believe that the strategic cooperation with CIG Pannónia will serve this purpose".

"CIG products are now available to customers of all three of our member banks, and based on the success of the previous business partnership between MKB Bank and CIG Pannónia, we are confident that we have chosen the best partner for both our customers and our own strategic goals," she added.

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