PSZÁF lifts suspension of Marsh
Friday, October 28, 2005, 13:25
The State Financial Supervisory Authority (PSZÁF) has lifted a suspension of the Hungarian unit of insurance broker Marsh, effective October 27, the watchdog announced on Friday. On October 5, PSZÁF prohibited Marsh from signing any more new contracts for failing to keep its records up to date. The supervision gave Marsh until the end of October to bring its record-keeping system in line with regulations. Marsh had revenue of Ft 1.2 billion last year, nearly tying for top position on Hungary's insurance broker market with the leader Eurorisk.