STATISTICS: HUNGARY, 1Q2017: incurred claims went up by 12.2%, while GWP increased by only 8.5% y-o-y

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.

Life insurance accounted for 43.6% of total GWP portfolio - of which 21.2% unit-linked / index-linked policies and 9.2% - endowment insurance.

As compared with last year, the share of non-life classes in total market increased to 56.4% GWP or HUF 143.7 billion. In case of general insurance, the largest shares were accounted by property policies (20.9% of total GWP), MTPL (19.3%) and MoD (8%).

In terms of losses, the aggregate volume of incurred claims by insurers increased by 12.2% y-o-y to HUF 141.4 billion (EUR 458 million).

Access www.xprimm.com and download the 1Q2017 Hungarian insurance market statistics.

Follow XPRIMM Publications on LinkedIn, for more data on the insurance and financial industry.

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