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Insurance

Insurers, reinsurers, and brokers face an increasingly unpredictable world, not least because of tougher capital and risk requirements impacting on your business. So you can be certain to meet these challenges successfully, you need advisors with specialist knowledge of your sector and a detailed understanding of the evolving regulatory framework.

CMS has helped major insurers establish and expand operations in Central and Eastern Europe. We are the market leader in M&A in the sector, offer dedicated regulatory expertise and have extensive experience from distribution of insurance products to defence of class action claims.

With 100 insurance lawyers across 34 countries, we can protect your commercial interests in your home market and across borders. We provide advice based on strong local knowledge delivered on a Europe-wide basis by expert lawyers, many of whom have worked in the sector or for regulatory authorities.

We assist clients on the most complex transactional, advisory and contentious matters. A multi-disciplinary team advises on strategic as well as operational matters, liability and dispute resolution, policy drafting, coverage, regulatory issues, M&A, capital raising and restructurings, HR, tax, real estate and commercial issues.

10/07/2019
Highlights of experience in Insurance in Hungary
MetLife on the acquisitions of Aviva Czech Life, Aviva Hungary Life, Aviva Romania Life and Aviva Romania Pensions from Aviva. Subsequently, advised on the cross-border merger of MetLife Hungary into...

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14/05/2024
EU introduces criminal offences and penalties for sanctions violations
Criminal offencesUnder the Directive, the following conduct constitutes a criminal offence when committed intentionally and in violation of restrictive measures or a national provision implementing restrictive...
13/05/2024
UK's Accession to the 2019 Hague Convention to ensure enforcement of UK...
In January 2024, the UK acceded to the 2019 Hague Convention, which unequivocally permits the enforcement of UK court judgments, regardless of whether a jurisdiction clause is ex­clus­ive/sym­met­ric­al.The...
16/04/2024
Hungary proposes widening scope of financial entities under DORA Regulation
On 10 April 2024, the Hungarian Parliament adopted a new law on the detailed rules implementing the DORA Regulation – Regulation (EU) 2022/2554 of the European Parliament and of the Council of 14 December...
08/04/2024
Hungary proposes ex-ante competition tool to regulate essential companies
On 2 April 2024, the Hungarian Ministry of Justice submitted an omnibus act to the Hungarian parliament proposing the amendment of several Hungarian laws, including the Competition Act. This Proposal’s...
19/03/2024
Hungary adopts new regulations on occupational Safety and Health fines...
The Hungarian parliament recently adopted amendments to certain government regulations on occupational matters, and new government regulations on the detailed rules for the amount and imposition of occupational...
13/02/2024
EU legislative initiatives on recovery and resolution planning for insurance...
With the compromise proposal for an Insurance Recovery and Resolution Directive (IRRD) published by the EU Council in January 2024, EU legislative initiatives to establish a recovery and resolution framework...
13/02/2024
Hungary makes changes to labour law, occupational health and safety at...
Hungary has initiated a series of legislative amendments to laws governing labour, occupation health and safety at work, some of which already entered into force on 1 January 2024. Specifically, Hungarian...
17/01/2024
Hungarian Competition Authority launches study on impact of AI on competition...
On the eve of the European Commission’s calls for contributions on competition in virtual words and generative AI, the Hungarian Competition Authority (HCA) announced that it is launching a market analysis...
19/12/2023
Hungary’s financial regulator reviews risk of AI to banks and insurance...
For the first time, the Hungarian National Bank (MNB) carried out a thematic study on the IT, privacy and other risks of AI and machine learning in banks and insurance companies.The objective of the study...
06/12/2023
EU publishes Directive on distance financial services contracts in Official...
In November 2023, the EU legislator adopted the new Directive regarding financial services contracts concluded at distance.This Directive essentially aims to modernise the existing legal framework governing...
16/11/2023
Hungary holds public consultation for draft law on electronic iden­ti­fic­a­tion...
On 10 November 2023, the Prime Minister's Cabinet Office submitted for public consultation the draft “Law on the Digital State and Certain Rules for the Provision of Digital Services” (“Digital...
11/10/2023
Hungary sets cybersecurity fines in decree
A Hungarian government decree (Government Decree 305/2023 (VII. 11.) on the amount of cybersecurity fines, detailed rules of procedure for the imposition and payment of fines) has set down the minimum...