According to the quarterly statistics published by the Central Bank of Hungary, at the end of September 2022, the aggregate market gross profit of Hungarian insurers decreased by 65% y-o-y to HUF 23.2 billion the equivalent of EUR 55 million (vs. HUF 66.3 billion/ EUR 184 million), according to the quarterly statistics published by the Central Bank of Hungary. At the same time, the value of net profit decreased by 66% y-o-y to HUF 21 billion (~EUR 50 million) vs. HUF 61.8 billion/ ~EUR 171 million.

The Q3 2022 aggregate technical result (life and non-life, summed-up) totaled HUF 24 billion (EUR 54.8 million), down by 57.6% vs. September 2021 (HUF 54.5 billion). Of this total, HUF 17.9 billion was related to life insurance segment, the remaining HUF 5.1 billion (vs. HUF 36.7 billion) being related to non-life subclasses.

In terms of GWP, Hungarian insurers posted aggregate Q3 2022 GWP worth HUF 1,104 billion (~EUR 2.6 billion), up by 11.2% y-o-y. During the analyzed period, the life insurance business accounted for 43% (HUF 475 billion) and the non-life insurance business accounted for 57% of total GWP (HUF 628 billion).

At the end of September 2022, on the Hungarian insurance market were active 22 insurers: 4 specialized life insurers, 9 non-life, and 9 composite insurers.

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