Hungary
STATISTICS: Hungarian insurers' GWP climbs more than 11% in H1
Hungarian H1 insurers' GWP rose 11.3% year-on-year to HUF 591.5 billion (~EUR 1.8 billion) according to the quarterly market figures published by the National Bank of Hungary (MNB).
5 September 2019Generali buys ERGOʼs Hungarian insurance portfolio
7 August 2019Allianz Hungaria Zrt. has a new CEO and President
Alexander PROTSENKO has been appointed as the new President and CEO of Allianz Hungarian branch. He will take over the position held by Peter KISBENEDEK, who served Allianz Hungaria Zrt. for more than 11 years, after choosing to continue his career outside Allianz.
19 July 2019STATISTICS: HUNGARY, 1Q2019: Market profitability remained almost unchanged
25 Hungarian insurers reported 1Q2019 aggregate GWP up by 14.8% y-o-y to HUF 316.4 billion (EUR 986 million), according to the quarterly market data published by the National Bank of Hungary (MNB). Life insurance GWP increased by 11.2% to HUF 132 billion (EUR 411 million), while non-life GWP increased by 17.5% to HUF 185 billion (EUR 575 million), as the MNB figures reveal.
27 June 2019HUNGARY: UNIQA Biztosito expects EUR 100,000 extra earnings from CHERRISK in 2019
The high interest in digitalization of the Hungarian branch of UNIQA paid off, making UNIQA an innovation "trendsetter" in the local market with its recently launched projects, like UNIQA HomeGuard and UNIQA CHERRISK.
13 June 2019HUNGARY: New regulations for unit-linked policies
New amendments from the Hungarian Ministry of Finance on unit-linked life insurance will come into force on July 1, 2019. The adjustment of the Insurance Activities Act creates new obligations for insurers.
4 April 2019GENERALI to take over ERGO units in Hungary and Slovakia
Italian insurer GENERALI announced signing an agreement to take over the entire life, non-life and composite insurance portfolios of three entities of ERGO International AG in Hungary and Slovakia. The sale is subject to certain regulatory and anti-trust approvals, as is customary for transactions of this kind. The parties have agreed not to provide details of the purchase price and other terms.
4 April 2019STATISTICS: HUNGARY, MNB: Insurersʼ FY2018 GWP up by 7.1% y-o-y
Hungarian insurersʼ revenues from premiums rose 7.1% y-o-y in 2018 to
HUF 1,024 billion (EUR 3.2 billion), as the figures recently published
by the National Bank of Hungary (MNB) show.
14 March 2019HUNGARY: Local insurers paid nearly HUF 40 billion for fire damage in the past 8 years
According to the Association of Hungarian Insurance Companies (MABISZ), between 2010 and 2017, Hungarian insurers paid aprox. HUF 40 billion for a total of 50,000 reported fire incidents. 2012 was the most severe year, with fires causing HUF 10 billion in damage.
21 February 2019STATISTICS: HUNGARY, 2008 - 2017 timeline: back to the 2008 business volume, after the financial crisis' impact
During 2008-2017 the main segments of the Hungarian insurance market - life and non-life insurance -, recorded a U-shape trend, both in written premiums and paid claims terms. Life insurance claims made the only exception from this path, recording a growth trend in the toughest years of the financial crisis.
7 February 2019Hungary's insurance market regulator aims to enhance competition in the home insurance market
Hungary's central bank aims to introduce in the second half of 2019 measures to enhance competition in the home insurance market, the central bank's managing director for oversight of financial organizations Csaba KANDRACS said, quoted by Reuters.
8 January 2019OTP Bank to acquire SocGen's Serbian business
2 January 2019Aegon: Hungarian homeowners fear most fire and burglary damages
Although pipe bursts and storms are the risks causing each about one
third of the housing insurance claims in Hungary, it seems people fear
most fire damage and burglary, the latest edition of the Aegonʼs Great
Home Test (Nagy Lakasteszt) shows.
13 December 2018STATISTICS: HUNGARY: Insurers' 3Q net profit was up to EUR 180 million
Hungarian insurers reported 3Q 2018 aggregate GWP up by 9.2% y-o-y to HUF 777 billion (EUR 2.4 billion), according to the market data published by the National Bank of Hungary (MNB).
12 December 2018CIG Pannonia Life Insurance raised capital by about EUR 4.63 million
The board of CIG Pannonia Life Insurance decided on 28 November to raise
capital at its general insurance unit by HUF 1.5 billion (~EUR 4.63
million) and modify the unit's dividend policy, Hungarian news agency
MTI reports.
6 December 2018CIG Pannonia to raise capital at general insurance unit
2 December 20181.561 HUF profit after tax in Q3 at CIG Pannonia
2 December 2018STATISTICS: Hungary FY2017 UPDATE: Top 5 insurers accounted for almost 60% of the market GWP
Top 5 Hungarian insurers accounted together for 58.6% of the market GWP in 2017, according to the market data published by MABISZ, the local insurers' association. On the non-life side, the Top 5 market weight is even bigger, of 69.7%.
25 October 2018Hungary: extreme weather caused less damage this summer, but new phenomena are gaining ground
According to the first estimations of the Hungarian Association of Insurers (MABISZ), local insurers paid HUF 3.17 billion (EUR 9.7 million) between May 1 and August 31 for over 57 thousand claims for damages caused to individual and condominium buildings by storms, rainstorms, lightning, and hail.
27 September 2018STATISTICS: HUNGARY, 1H2018: 25% increase in the market aggregated profitability
Hungarian insurers have reported consolidated GWP worth HUF 520.15 billion in 1H2018, by 7.1% up y-o-y. Yet, given the over 6% depreciation of the Forint against the European currency, the market results denominated in Euro show a total GWP volume of EUR 1.58 billion, only 0.6% up y-o-y.
13 September 2018
