Extreme weather conditions have significantly affected Hungary during the first half of June, resulting in about 18,500 claims files worth a combined HUF 2 billion (~EUR 6.1 million) in losses, the local association of insurers said.

Hungarian 25 insurers reported 1Q 2018 aggregate GWP up by 8.2% y-o-y to HUF 275.6 billion (EUR 881.9 million), according to the market data published by the National Bank of Hungary (MNB).

Hungarian 25 insurers reported FY2017 aggregate GWP up by 7% y-o-y to HUF 948.1 billion (EUR 3 billion), according to the market data published by the National Bank of Hungary (MNB).

VIENNA Insurance Group announced Hungary's central bank approved the merger of the three VIG Group companies. Thus, starting 1 April 2018, VIG will be represented in Hungary solely by the insurance company UNION Biztosito, while in Slovakia, bancassurer Poistovna Slovenskej sporitelne (PSLSP) will merge with Kooperativa Poistovna.

The National Bank of Hungary (MNB) announced on its website it approved the merger of the three local subsidiaries of the Austrian VIENNA Insurance Group into one company. Gabor LEHEL, CEO of UNION Biztosito, will be Chairman of the Board of the resulted entity after the merger.

Hungarian insurers nine-months GWP was up by 6.6% y-o-y to HUF 711.2 billion (EUR 2.3 billion), according to the most recent market figures published by the National Bank of Hungary (MNB).

The number of cars not covered by MTPL insurance in Hungary has decreased substantially during the last five years, from 5.8% to 1.8%, as in September 2017, MABISZ - the Hungarian insurers' association said.

Hungarian insurers first half GWP was up by 6.16% y-o-y to HUF 485.81 billion (EUR 1.57 billion), according to the most recent market figures published by the National Bank of Hungary (MNB).

The Hungarian insurance market totaled HUF 254.7 billion (EUR 825 million) at the end of March 2017, 8.5% more y-o-y, according to the statistics published by the Central Bank.

Austrian insurer VIENNA Insurance Group (VIG) announced it will merge its three Hungarian subsidiaries - ERSTE Biztosito, UNION Biztosito and VIENNA Life Biztosito - into one company.

Dr. Andy Kuper, founder and CEO of LeapFrog Investments, has received the 2018 Founder's Award and Gold Medal from the International Insurance Society for his pioneering work. He was honoured for LeapFrog companies reaching 130 million people in a decade.

The works of the Global Insurance Forum continued today in Berlin, Germany. Providing security for ageing populations in health care and pensions terms, as well as innovation and InsurTech or innovative strategies for the future development of the industry are on the today's agenda.

International Insurance Society (IIS) will open two regional offices till the end of this year -in London and Singapore, to expand its global footprint, has announced President & CEO of the IIS, Mike MORRISEY at this year's Global Insurance Forum in Berlin.