At the same time, the technical result increased by 41.76% y-o-y to HUF 55.41 billion vs. HUF 39.09 billion a year before, while the sector's January-September GWP amounted to HUF 897.62 billion (~EUR 2.5 billion), rising by 4.11% y-o-y. This reflected a 2.42% growth in life insurance and a 5.39% increase in non-life. The life insurance business accounted for 42.40% and the non-life insurance business for 57.60% of the total GWP.
At the end of 2020 Q3, the total contract portfolio of insurance companies rose by nearly 1% from its level a year earlier, exceeded 14.41 million - reflecting more than 193,000 increase in new contracts. This mainly resulted from a 1.4% rise in the number of non-life insurance contracts, accompanied by a somewhat declining number of life insurance contracts (a decline of 1.5%).
At the end of September 2020, on the Hungarian insurance market were active 22 insurers: 5 specialised life insurers, 9 non-life, and 8 composite insurers.
Access xprimm.com and download the 3Q2020 Hungarian insurance market statistics.