COMPANY INFORMATION
International background – the AEGON Group
AEGON Magyarország Általános Biztosító Zrt. is a member of the international AEGON Group. The AEGON Group is based in The Hague, Netherlands. The largest AEGON subsidiary is located in the United States. AEGON’s shares are listed on six stock exchanges worldwide: Amsterdam, Frankfurt, London, New York, Tokyo and Zurich. Based on market capitalization, assets, and net premium income AEGON is one of the largest listed insurance groups in the world.
Subsidiaries of the AEGON Group are present in the USA, Canada and Mexico. Within Europe, AEGON has businesses throughout the Netherlands, the United Kingdom, Ireland, Spain, France, Hungary, Slovakia, the Czech Republic, Poland and Romania. AEGON is also present in India, China, Japan and Taiwan.
Company history: AEGON Magyarország Általános Biztosító Zrt.
Állami Biztosító Nemzeti Vállalat (the National Public Insurance Company) was established on the 20th of June 1949. It soon became a mass insurance company. Besides life insurance, ÁB launched all-risk building and household insurance products, providing coverage for accidents and a wide range of property insurance risks. However, life and casualty insurance products, which provide a higher-standard of service, were not introduced for another ten years.
In 1986, the owner – the Hungarian State – divided the equity capital and the portfolio in order to establish another large public insurance company under the name Hungária Biztosító. By this measure, ÁB’s monopoly ceased to exist. By way of another disposition, ÁB was transformed into a 100% publicly owned joint stock company as of 1 June 1990. The company was privatized in 1992. AEGON, the Netherlands-based global insurance company, acquired a 75% majority share by capital increase. The company name, Állami Biztosító Nemzeti Vállalat, was modified to ÁB-AEGON Általános Biztosító Rt.
The year 1992-93 passed in the spirit of consolidation, but ÁB-AEGON preserved its earlier market leader position in life and household insurance. As a result of rapid and well-organized measures, the company became profitable as early as 1994. The real breakthrough, however, was brought about in 1995 when the net profit of the company rose considerably. Finally, insurance business results indicated a positive balance besides the returns from investments on nearly 80 billion HUF of assets.
In October 1995, the State sold its remaining golden share; in so doing, the Dutch AEGON Group came to be the 100 per cent owner. The rationalization of the organization was completed by 1997, and the formerly loss-generating company with a large administrative force grew to be a more efficient, sales-centred company.
Domestic experience and international background
AEGON Hungary has been one of the most successfully managed members of the AEGON Group. Both our domestic experience over the last several decades and our stable international background guarantee that we are capable of providing our clients with customizable, high-standard services.
Our company is one of the top players in the Hungarian life and property insurance as well as in investment market. AEGON Hungary Group of Companies currently has four subsidiaries in order to cater to the broad spectrum of customer demands, including: pension funds, investment or credit products, and in addition, insurance.
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Steadily extending product palette
Our life insurance products not only provide insurance protection but also favourable opportunities for long-term savings. Our insurance plans can be used for safeguarding your children’s future, for providing the financial stability of your family’s needs, and to ease the burden of financial planning for your years in retirement. Besides reducing the risks associated with your life and health, our products provide you with a basis for achieving any of your long-term objectives requiring substantial financial resources. We also offer solutions for our clients, who require life insurance plans to cover their home loans.
Recently, AEGON Hungary developed a savings product with premium payment and benefits generated in euro and a term life insurance product with high sum assured, providing discounts based on health status. The term life insurance has become an increasingly attractive product for both private individuals and key corporate officials. In addition, we offer special insurance solutions – to be taken out with a savings component – specifically designed for women and tailored to their health-related needs. We provide the advantage of customizable and flexible life insurance products, since insurance riders can be used to tailor our clients’ insurance plans to their needs within the framework of the terms and conditions. In addition, our clients are also free to select the insurance term.
With a 33% market share, our company is a top player in the household insurance market. More than 1 million Hungarian households are insured by AEGON Hungary. Our household insurance provides protection for both assets and family members. Riders as well as additional Exclusive and Assistance services help our clients, including when special loss incidents occur. We offer Complex Insurance for Condominiums and Housing Cooperatives, so you can insure your immediate residential surroundings from the cellar to the attic, from individual apartments to commonly used premises.
Our clients can customize their Útitárs Casco motor hull insurance based on a broad range of main insurance products and riders.
Customized and flexible services
Nearly 2500 of our highly skilled advisors are at our clients’ disposal throughout the country with regard to life and property insurance issues. Our state-of-the-art call centre brings AEGON Hungary’s services to your home. Last year, more than six hundred thousand people opted to make arrangements comfortably on the phone using our information hotline.
Our company’s leading-edge technological background enables us to provide high-standard services to our clients, including an emphasis on prompt and timely claim settlements. This is based on the fact that our company provides contact opportunities for clients through every possible communication channel. Today, more than 20% of the losses reported are resolved promptly on the phone, and the injured parties receive the amount of benefit within a couple of days in order to be able to provide the necessary assistance needed to overcome their hardships as soon as possible.