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CIG Pannónia general insurance unit to start operating in Oct

Hungarian-owned insurer CIG Pannónia is preparing to start operations in the non-life segment and expects to enter the market at the beginning of October, Ottó Csurgó, chief executive CIG Pannónia First Hungary General Insurance, told MTI on Tuesday.

Financial market watchdog PSzÁF approved Csurgó's appointment to head the insurance company in a resolution published on Monday. It also approved his appointment to the board of CIG Pannónia Life Insurance Company.

CIG Pannónia Life Insurance's legal predecessor started operating in 2008. Its owners established a general insurance unit in the spring of 2009, but its market entry was postponed because of the crisis. (MTI – Econews)