News
EXTRAORDINARY INFORMATION on the suspension of asset funds
2022. 03. 01.

CIG Pannonia Life Insurance Plc. (registered office: H-1097 Budapest, Könyves Kálmán körút 11.B, company registration nr.: 01 10 045857, hereinafter referred to as Company) hereby informs the Esteemed Investors that on March 1, 2022, in view of the fact that the war situation in Ukraine entails measures that must be introduced in the insurance market, the Company fully informed all its unit-linked life insurance clients in its announcement. The information was provided on the grounds that our Company has suspended the ongoing distribution (ie the sale and purchase of units) of the following asset funds:

  • Ural Russian Equity Fund;
  • Ural Russian Pro Equity Fund;
  • Euro-based Ural Russian Equity Fund;
  • Euro Ural Russian Pro Equity Fund.

The suspension and, for this reason, the information was provided on the basis of Section 127 (1) of the Act LXXXVIII of 2014 on Insurance Activities (Bit) for the protection of the interests of our Clients. The reason for the suspension is that due to the situation that has developed and is based on reasons outside the Company - as the foreign investment fund manager does not disclose the exchange rate - the price of the named asset funds cannot be calculated either, so their net asset value and the price of the investment units cannot be determined.

 

The Managing Board of the Company emphasizes that the measure presented in this extraordinary information was taken with the interests of the relevant Clientele in mind and it also means communicating the changes that are taking place, at the same time, it does not endanger the operation of the Company or the scheduled implementation of the directions and goals set out in the Growth Strategy previously presented to the Esteemed Investors.








Disclaimer: All information contained within this article is for information purposes only, and shall not be considered an official translation of the official communication referred to herein. This document does not include the integral wording of the official communication referred to herein, the original Hungarian language version of it remains to be the solely legally binding material in the subject matter. For further information, please do not hesitate to contact us.


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