The tender submitted by the Consortium of the Company and Pannónia Pension Fund has been the most favorable valid proposal, the contract on the transfer of the portfolio will be concluded in the coming days. The transfer of the insurance portfolio will be conducted after obtaining the necessary official authorizations.

Pannónia Pension Fund will take over the portfolio of supplementary pension (deferred annuity) products with approximately HUF 41 billion technical reserves, while the Company will take over the portfolio of life insurance products with more than HUF 2 billion technical reserves and the portfolio of ongoing life annuities from supplementary pension products with additional HUF 0.4 billion technical reserves. (Data on technical reserves are reported by DIMENZIÓ and regarding on 31 October 2016.)

CIG Pannonia Life Insurance Plc.