The Managing Board of CIG Pannonia Life Insurance Plc. (registered office: H-1097 Budapest, Könyves Kálmán körút 11.B, company registration nr.: 01 10 045857, hereinafter referred as Company) hereby informs the Esteemed Investors that the Company and its wholly owned subsidiary, CIG Pannonia First Hungarian General Insurance cPlc. (together: CIG Pannonia Group) has entered into a 20-year framework agreement with MKB Bank Plc. (registered office: H-1056 Budapest, Váci u. 38.; company registration nr.: 01 10 040952) and with Hungarian Bankholding cPlc. (registered office: H-1134 Budapest, Kassák Lajos utca 18.; company registration nr.: 01 10 140865)

Pursuant to the framework agreement and subject to the conditions and date contained therein in respect of its so-called member banks under the influence and control of a qualified majority, i.e. MKB Bank cPlc., Budapest Bank cPlc. and a Takarékbank Zrt., Magyar Bankholding Zrt. undertook to distribute and sell exclusively the products of the CIG Pannonia Group in all sales channels for products belonging to the life and non-life insurance sectors.

The establishment of the framework agreement is expected by the parties to create the long-term conditions for the full exploitation of the synergies inherent in banking-insurance cooperation, for which the Parties have agreed to establish targeted cooperation agreement(s) in a regulated form and manner, setting out the precise modalities, financial terms, rights and obligations of their cooperation. All this is embodied in the banking product sales activity and the related sales promotion activity on the one hand, and the exclusive insurance sales activity and the related sales promotion activity by Hungarian Bankholding cPlc. and its member banks on the other hand. The Company recalls that the cornerstone of its Growth Strategy announced in July 2021 was to become a reliable, dominant and stable composite insurer with a portfolio of both life and non-life product products over the next five years. A key element in achieving this goal is the long-term cooperation resulting from the framework agreement just published.







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