STATISTICS: HUNGARIAN insurers' business up by 1.7% in Q1

Hungarian insurance market totaled HUF 241.36 billion (EUR 807 million) at the end of March 2015, 1.71% more y-o-y, according to the statistics published by the Central Bank. In European currency, due the appreciation of the Hungarian Forint - the calculated growth rate was 4.41%. The volume of paid claims by insurers decreased by 1.79% to HUF 125.85 billion (EUR 421 million), due the reduced values reported for life indemnities.

The aggregate GWP portfolio was formed by life insurance (48.3% of total) - of which 28.76% was accounted by unit-linked policies. Compared to last year, the share of non-life classes in total market increased to almost 52% - due the positive dynamics reported on almost all sub-segments. In quantitative terms, the most significant increase was reported on Motor TPL class: HUF 3.58 billion to HUF 34.92 billion.

According to the 1Q market report published by the Association of Hungarian Insurance Companies (MABISZ) - the largest life insurers were ING (GWP of HUF 20.41 billion), MPE Hungarian Post Life and GENERALI.

Top 3 non-life insurers consisted of ALLIANZ, GENERALI and AEGON.

It is worth mentioning that on the MTPL insurance class, of the 15 authorized insurers, only four reported decreases in the volume of GWP, while seven reported double-digit growth-rates.

Access www.xprimm.com and download the 1Q2015 Hungarian insurance market statistics.

Market portfolio (in EUR and HUF) according to the National Bank of Hungary (NBH):
  • Gross written premiums
  • Paid claims
  • Growth rates
Market rankings (GWP/ Market shares/Growth rates - in EUR and HUF) according to Association of Hungarian Insurance Companies (MABISZ):
  • Overall market ranking
  • Overall life insurance ranking
  • Non-life insurance ranking
  • Compulsory MTPL

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