Hungarian insurer CIG to take over Slovak and Czech branches of Youplus

Hungarian insurer CIG plans to take over the Slovak and Czech branches of insurer Youplus. Youplus stopped signing new contracts last year after coming close to breaching its solvency threshold, and aims to resume operations next year. In Slovakia, Youplus operates as a branch of a Liechtenstein-based insurer and, like CIG, focuses on life insurance. CIG already operates in Slovakia and is co-owned by Lőrinc Mészáros, an associate of former PM Viktor Orbán, who also owns Doprastav, among other assets.

(finsider.sk)