CIG Pannonia Life Insurance to cut costs in order to become profitable by 2014
CIG Pannonia Life Insurance sustained after-tax losses of HUF 1.58 billion in the first half of 2011, the company's consolidated H1 IFRS report published on Thursday morning showed.
Gaál said that the cost-cutting measures include integration of CIG Pannonia Life Insurance's corporate and non-corporate sales channels as well as a postponement of the company's planned expansion into Serbia and Bulgaria.
SUPPORT THE BUDAPEST BUSINESS JOURNAL
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.