• Coronavirus in Hungary
  • coronavirus
  • Budapest
  • Covid immunity certificate in Hungary
  • Covid immunity certificate/vaccine passport
  • Hungary border control
  • HelloMagyar
Hungarian state acquires stakes in insurers Aegon, UnionHungarian state acquires stakes in insurers Aegon, UnionHungarian state acquires stakes in insurers Aegon, UnionHungarian state acquires stakes in insurers Aegon, Union
  • Politics
  • Business
  • Society
  • Sport
  • Culture
  • Special Hungary
  • World
  • Contact Us
  • About us
  • About us
  • Contact Us
  • Privacy Policy
✕
Support us
Daily News Daily News · 21/02/2022
· Business

Hungarian state acquires stakes in insurers Aegon, Union

economy Hungarian government Hungary investment
aegon biztosító

Photo: aegon.hu/

The Hungarian state will acquire 45 percent stakes in insurers Aegon Biztosító and Union Biztosító, Finance Minister Mihály Varga said on Monday after signing the deal on the acquisition with representatives of Vienna Insurance Group (VIG).

The investment is “hugely advantageous” for Hungary, Varga said in a post on Facebook, noting that Aegon and Union hold a combined 20 percent share of Hungary’s insurance market and have a combined annual revenue of 240 billion forints (EUR 671.8m).

The acquisition serves to increase public wealth and to return strategic assets to state ownership, the minister said.

He added that

between 2002 and 2010, the left-liberal governments had sold off a significant chunk of state assets, privatising roughly 190 companies.

  • read also: Hungary has one of the largest price gaps between renting and buying in the world

The Fidesz-led government put an end to the sale of state assets, he said, adding that the previous system had been replaced by thoughtful policies.

“Thanks to this, by 2020, the value of state assets increased to 20,000 billion forints from 11,000 billion in 2010,” Varga said.

UPDATE

Hungary’s veto of the acquisition of the Hungarian subsidiaries of Aegon Group by Vienna Insurance Group (VIG) is in breach of the European Union’s merger regulations, the European Commission said on Monday. Details HERE.

Debrecen Airport2
Read alsoState acquires majority in the Debrecen airport operator – PHOTOS

economy Hungarian government Hungary investment
Share
Daily News
Daily News

Related posts

Jakots Orsolya Exagent Group
28/05/2022

How to make a rock-solid pitch to the investors? Here are some tips for startups 


Read more
wizz air plane
28/05/2022

Hungarian Wizz Air to increase prices because of extra taxes?!


Read more
Paks nuclear power plant
28/05/2022

Hungary to speed up Paks expansion!


Read more

Leave a Reply

Your email address will not be published. Required fields are marked *

SUPPORT US
Latest news
  • Hungary is home to almost 35,600 international students
  • Two Budapest restaurants among the most affordable with Michelin stars
  • Opposition proposals on helping people struggling with inflation
  • Hungarian Ombudsman demoted by his foreign colleagues

Subscribe to our newsletter

Sign up to receive daily updates, news & stories about Hungary!

Select your location below or enter your country so we can deliver our morning newsletters to you in time.


Thank you!

You have successfully joined our subscriber list.


.

About us

Contact us

© 2022 DailyNewsHungary. All rights reserved!
Posting....