CIG Pannónia parts with general insurance businesses
Image by Shutterstock.com
CIG Pannónia Life Insurance said Friday the National Bank of Hungary (MNB) has approved the transfer of its home and mandatory vehicle insurance policies to Aegon Magyarország, Hungarian news agency MTI reported.
CIG Pannónia will transfer the policies from its general insurance unit by July 1, 2017, and will focus on “niche markets where it can operate competitively.”
CIG Pannónia shareholders made the decision to sell the companyʼs home and mandatory vehicle insurance businesses at a general meeting in March.
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.