Owners and management
Former Minister of Finance and chairman of the central bank Zsigmond Járai was appointed to chair the supervisory board, which represents the owners. Béla Horváth, former executive of various Hungarian insurance companies, was appointed as the chairman of the board of directors. The position of the CEO has been filled by dr. Ottó Csurgó since 18 April 2012, who is also the CEO of CIG Pannónia First Hungarian General Insurance Plc. The company is heir in spirit to the First Hungarian General Insurance Company (Első Magyar Általános Biztosító Társaság) founded in 1857 by Henrik Lévay. In those days, as well as nowadays, Hungary lacked an insurance company run by Hungarian management, focusing on the Hungarian market and supported and privately financed by recognized Hungarian personalities. Back then, just like today, it was necessary to have a professional leader with an intimate knowledge of the local economy and the opportunities of the insurance market, who had the organisational expertise necessary to build an entire new insurance company, who had past achievements and could convince supporters to back the cause of founding a new insurance company.
In September 2020, the company liquidated its Hungarian subsidiary, CIG Pannónia Pénzügyi Közvetítő Zrt,[11] in which Hungarikum Alkusz Kft, owned by Erik Keszthelyi and Lőrinc Mészáros, subsequently acquired a 25% stake.[12] From 1 October 2020, István Fedák took over as CEO, replacing Gabriella Kádár,[13][14] who had previously held the position for 6 years.[15] From January 2021, Zoltán Polányi became chairman of the board of directors and the other CEO alongside Fedák.[16]
In October 2021, CIG Pannónia announced that Hungarikum Biztosítási Alkusz Kft. had acquired 55.5 percent of the voting shares in the listed company, making it the majority shareholder.[16] In September 2022, Hungarikum increased its ownership by a further one and a half percent.[17]
