CIG Pannonia Signs Deal to Acquire YOUPLUS Units

Listed Hungarian insurer CIG Pannonia has signed a blanket purchase agreement on the acquisition of the Czech and Slovak businesses of YOUPLUS Assurance, based in Liechtenstein, the company said in an announcement on the website of the Budapest Stock Exchange.

The acquisition will provide a "stable foundation" for CIG Pannonia's entry onto the Czech and Slovak markets, CIG Pannonia said, underpinning the Life Insurance Plc. Group’s acquisition initiatives.

Taking into account the company’s board of directors’ goals set at the end of the 2025 business year, according to which “… we are ready to search for acquisition targets in order to ensure our growth and, if positive, to acquire these targets” from its own resources, CIG Pannonia decided to establish branches in the Czech Republic and the Slovak Republic in accordance with its regional strategic priority at group level in order to facilitate its life and non-life insurance activities (market entry), which will contribute to its ability to carry out professional insurance activities in these countries.

“In this announcement, we hereby state that the Company’s Management Board has approved, in accordance with preliminary plans and on schedule, YOUPLUS Assurance AG for the acquisition of its Czech and Slovak insurance business, the terms of which were negotiated and finalized at the expert level (BPA); the agreement was signed by the contracting parties today, July 15, 2026, in Prague,” the company says.

It adds that that as a result of the BPA signed, the company – following regulatory approval – is to enter the Czech and Slovak markets, for which YOUPLUS portfolio will provide stability.