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MNB Sustainability Recommendation to Insurers

Dec 6, 2023

The National Bank of Hungary (MNB) has issued a recommendation to Hungarian-based insurers on climate change and environmental risks and on how to integrate environmental sustainability considerations into their operations. The recommendation is aimed at helping insurers to take environmental factors into account and to help them to make the transition to sustainable operations and […]

Hungarian Stake in VIG Companies in Hungary Reduced

Nov 21, 2023

Corvinus International Investment Plc., a 100% Hungarian state-owned company, and Vienna Insurance Group (VIG) have signed an agreement to reduce the state's minority stake in the Hungarian VIG companies from 45% to 10%, the Ministry of Economic Development (GFM) announced in a statement on Tuesday. The statement said that the Hungarian state, as a minority […]

Aegon Hungary Changes Name to Alfa

Aug 3, 2023

From August 1, 2023, Aegon Hungary General Insurance Plc. will continue its activities under the name Alfa Vienna Insurance Group Plc. According to the information published on the company's website, the name change does not imply any change in the company's operations, products and obligations. Customers are not affected by the name change and have […]

New Special Taxes Levied on Pharma, Insurance Sectors

Dec 24, 2022

On the night of December 23, the Hungarian Gazette was published, full of new laws and regulations. One of them is a government decree amending the extra profit tax decree to impose a special tax on pharmaceutical manufacturers in proportion to their turnover. Another regulation increases the tax on insurance companies. The latest extra tax […]

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