Aegon Hungary Changes Name to Alfa
- 8 Aug 2023 1:21 PM
- Diplomacy & Trade Hungary
From August 1, 2023, Aegon Hungary General Insurance Plc. will continue its activities under the name Alfa Vienna Insurance Group Plc.
According to the information published on the company's website, the name change does not imply any change in the company's operations, products and obligations. Customers are not affected by the name change and have nothing to do with it.
The contracts previously concluded will remain unchanged and services will continue to be available on the same terms.
The names of the subsidiaries and the voluntary pension funds have also changed, with Aegon Hungary Pension Fund Services Ltd. renamed Alfa VIG Pension Fund Services Ltd. and Aegon Hungary Mediation and Marketing Ltd. renamed Alfa VIG Mediation Ltd.
The name of Aegon Voluntary Pension Fund has been changed to Alfa Voluntary Pension Fund. The statement reminds that the name of Aegon Fund Management Company was already changed to VIG Investment Fund Management Company Hungary Plc. as of May 15.
In Hungary, VIG Investment Fund Management Hungary Plc. manages the assets of Aegon Hungary Insurance Company, which has taken the name Alfa, and Aegon Voluntary Pension Fund, as well as Union Insurance Company, thus managing a total of more than HUF 1,000 billion in assets, including institutional and retail assets. It is the fifth largest asset manager in the Hungarian asset management market with a market share of 8% and the largest Hungarian non-bank asset manager, supported by the stability of the Hungarian state through its 45% indirect shareholding and strategic partnership.
The Vienna Insurance Group (VIG) is made up of more than 50 insurance companies and pension funds in 30 countries. The Vienna Insurance Group has 29,000 employees and more than 22 million customers.
VIG shares have been listed on the Vienna Stock Exchange since 1994, on the Prague Stock Exchange since 2008 and on the Budapest Stock Exchange since 2022.
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