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 or Insurer) in compliance with its relevant legal obligations, hereby informs the Esteemed Shareholders and other members of the public about the provisions contained in the operative part of the decision no H-FH-II-B-10/2022 of the Central Bank of Hungary (MNB, Supervisory Authority) dated December 5, 2022, received by the Company on December 6, 2022, according to which based on the findings of the ex officio consumer protection target investigation, the MNB called on the Insurer to always comply with the legal provision on the prohibition of unfair commercial practices, and imposed a consumer protection fine of HUF 2,000,000, i.e. two million forints, on the Insurer for violating the legal provision on the prohibition of unfair commercial practices

In connection with the above, the Company would like to record that the legal violation identified and revealed by the MNB in the context of telephone information prior to joining an insurance contract provided by our tied agents was already remedied during the supervision procedure.

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.