STATISTICS: HUNGARY insurance market grows 2.6% in 3Q

Hungarian insurers' GWP rose 2.6% y-o-y to HUF 647 billion (EUR 2 billion) in the first nine months of the year, according to the figures published by the National Bank. Life insurance GWP was down by 1.5% to HUF 333 billion, while revenue from premiums on general insurance policies increased by 7.3% to HUF 314 billion.

Overall, the value of paid claims totaled HUF 398 billion (EUR 1.3 billion) - up by 5.3% y-o-y, split as follow: HUF 265 billion - life insurance indemnities (up by 5.1% y-o-y), and HUF 132 billion (up by 5.7% y-o-y) - non-life claims.

At the same time, data published by MABISZ (Association of Hungarian Insurance Companies) reveals that the top three companies own 39% of the market. In 3Q2015, the market leader based on the value of GWP was ALLIANZ (14.1% market share), while GENERALI ranked second (13.9%) followed by GROUPAMA (10.8%).

Access www.xprimm.com and download the 3Q2015 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 the Association of Hungarian Insurance Companies (MABISZ):
  • Overall market ranking
  • Overall life insurance ranking
  • Non-life insurance ranking
  • Compulsory MTPL

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

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