The History of the Money and Culture Foundation

The History of the Money and Culture Foundation

The Money and Culture Foundation is a non-profit organization established in 2008 as a private initiative of Attila Solymár.

The Foundation is supported by donations from members of its Board of Trustees, the insurance companies they represent, other institutions and individuals within the life insurance industry, as well as external supporters. As part of its educational mission, the Foundation has participated in organizing the Budapest Life Insurance Summit every year since 2014, promoting and supporting the industry’s development towards international best practices.

As part of its social responsibility mission, the Foundation identifies and supports families who have suffered a tragedy without the protection of life insurance and, as a result, are unable on their own to maintain their previous standard of living or overcome the sudden financial difficulties they face.

The Money and Culture Foundation carries out its social mission as an advocate for a stronger life insurance culture in Hungary and across Central and Eastern Europe. Since 2014, it has been involved in organizing the annual Budapest Life Insurance Summit, fostering cooperation within the sector and helping raise domestic industry standards through international knowledge-sharing and professional connections.

The Budapest Life Insurance Summit is held once a year, traditionally in Budapest, welcoming representatives from other countries across the region as well. From 2020 onwards, our work was disrupted first by the COVID-19 pandemic and later by the impact of the windfall profit tax imposed on the insurance sector. At the same time, this four-year period provided an opportunity for focused preparation for the Summit’s celebratory return in 2025, expanded into a two-day international congress, and for the establishment of new traditions. Traditionally, the Congress features speakers from the Million Dollar Round Table (MDRT), the independent international association of the world’s leading financial services professionals. The audience brings together distinguished financial advisors from Hungary and across the region, as well as invited executives from insurance companies and intermediary firms. Through both formal and informal meetings, participants discuss the current challenges facing the life insurance industry and the opportunities they present. Their shared goal is to increase life insurance penetration, serving both the interests of society and the national economy. Leading international professionals in the industry come to Hungary to share their knowledge and personal experience with colleagues eager to learn and develop. Alongside its professional program, the conference also provides a platform for the charitable work of the Money and Culture Foundation. Each year, the Foundation identifies and supports families facing severe hardship following an unexpected tragedy where, in the absence of life insurance, maintaining their previous standard of living would otherwise present an overwhelming financial challenge.