STATISTICS: 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).

Life insurance GWP increased by 6% to HUF 358 billion (EUR 1.1 billion), while non-life GWP increased by 12.2% to HUF 418.8 billion (EUR 1.3 billion), as the nine-months figures reveal.

In terms of damages, the value of incurred claims (paid claims and reserves, summed-up) amounted to HUF 283.5 billion for life insurance contracts (+4.9% y-o-y) and HUF 183.7 billion for non-life policies, +3.4 less y-o-y. Overall, during January-September 2018, insurers paid out and made reserves an aggregate HUF 467.2 billion of incurred claims, up by 4.3% y-o-y.

The aggregate market gross profit increased by 28.9% y-o-y to HUF 61.6 billion (EUR 190 million), while the value of net profit was up by 28.7% to HUF 57.9 billion (EUR 180 million). At the same time, the technical result was HUF 46.4 billion (EUR 143.3 million) vs. HUF 31.3 billion a year before.

Access www.xprimm.com and download the 3Q2018 Hungarian insurance market statistics.





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

Share |

Related articles

Hungary: less than 20% of Hungarians have an accident insurance policy

Only 10-20% have an accident insurance, while in many countries of the Western Europe accident insurance coverage among their population is of more than 80%, The Budapest Business Journal reports. The low penetration leaves about 8 million Hungarians uninsured for the accident risk.

2018-07-18

ON THE MOVE

Bulgaria: Boiko ATANASSOV appointed as FSC's head

The Parliament of the Republic of Bulgaria appointed Boiko ATANASSOV as Chairperson of the Financial Supervision Commission (FSC) on March 15, with 134 votes in favour, none opposed or abstained.

21.03.2019

TOP EVENT

Climate and cyber: two Cs with catastrophic potential and the insurance business - under debate in Vienna, on April 9

10 years after its inception, the Romanian mandatory dwelling insurance system has progressed and PAID, the pool underwriting and managing the mandatory policies is a strong and financially sound institution. "We are currently managing a reinsurance program worth EUR 920 million, with a pool of excellent reinsurers, more than half of them rated AA+, while the company's solvency rate is of 220%," recently stated Nicoleta RADU, CEO, PAID.

21.03.2019

Conclusions: TBILISI - the first Georgian International Insurance Conference

The first Georgian International Insurance Conference took place on 14 March 2019. The event put under scrutiny the current status and the future development perspectives of the local market, in an attempt of identifying the main growth opportunities. The forthcoming launch of the mandatory MTPL system was the most important topic on the agenda, as this new line of business has the potential to provide for a significant growth, but also to become a market disruptor.

14.03.2019

See all