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.

Share |

Related articles

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