Belgian universal multi-channel bank-insurer KBC booked a EUR 30 million first-quarter loss at its banking and insurance business in Hungary as a windfall profit tax weighed, the lender said in an earnings report released on Tuesday. KBC booked EUR 215 million in banking and insurance taxes at the business – the full-year amount – up […]
Gránit Insurance Ltd., the insurance unit of listed Hungarian haulier Waberer's International, will boost its stakes in the Magyar Posta life and general insurance businesses to 100%, Waberer's Group said in an announcement on the Budapest Stock Exchange late Thursday. Gránit Insurance closed the acquisition of a 66.9% stake in the state-owned businesses a year […]
Premiums of the insurance sector will likely exceed HUF 2,000 billion this year, Koppány Nagy, the National Bank of Hungary’s (MNB) director for insurance, said at conference of the the Hungarian Association of Independent Insurance Brokers (FBAMSZ) in Esztergom (N Hungary) on Tuesday. Premiums in the first half of the year reached HUF 1,047 billion, […]
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 […]
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 […]
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 […]
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 […]
