New player in the insurance market

A new Hungarian insurance company, Wabard Biztosító Zrt. entered the vehicle insurance market upon receiving its license on 27. October 2008. The insurance company is owned by VKH Kft. and Arden Holding Zrt. which represents a guarantee for expertise and experience in the insurance business. Its initial capital of HUF 920 million has been boosted to 1,466 million by 30. April 2009, with a reserve rate of HUF 12-13 percent. A wide range of insurance services are offered for corporate and individual client including Casco (www.wabard.hu), and a number of insurance services for real estate and property are also to be introduced later this year.