Hungary
STATISTICS: Hungary FY2017 UPDATE: Top 5 insurers accounted for almost 60% of the market GWP
Top 5 Hungarian insurers accounted together for 58.6% of the market GWP in 2017, according to the market data published by MABISZ, the local insurers' association. On the non-life side, the Top 5 market weight is even bigger, of 69.7%.
25 October 2018Hungary: extreme weather caused less damage this summer, but new phenomena are gaining ground
According to the first estimations of the Hungarian Association of Insurers (MABISZ), local insurers paid HUF 3.17 billion (EUR 9.7 million) between May 1 and August 31 for over 57 thousand claims for damages caused to individual and condominium buildings by storms, rainstorms, lightning, and hail.
27 September 2018STATISTICS: HUNGARY, 1H2018: 25% increase in the market aggregated profitability
Hungarian insurers have reported consolidated GWP worth HUF 520.15 billion in 1H2018, by 7.1% up y-o-y. Yet, given the over 6% depreciation of the Forint against the European currency, the market results denominated in Euro show a total GWP volume of EUR 1.58 billion, only 0.6% up y-o-y.
13 September 2018HUNGARY: less than 20% of hungarians have an accident insurance policy
29 July 2018Hungary: 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.
18 July 2018NN HUNGARY: One of our objectives is to renew all processes by the end of 2019
15 July 2018HUNGARY: June storms cause HUF 1 bln of damage
9 July 2018Hungary: extreme weather during the first half of June resulted in insured losses of over EUR 6 million
Extreme weather conditions have significantly affected Hungary during
the first half of June, resulting in about 18,500 claims files worth a
combined HUF 2 billion (~EUR 6.1 million) in losses, the local
association of insurers said.
28 June 2018STATISTICS: HUNGARY, 1Q 2018: The insurers' quarterly net profit climbed by 41% y-o-y
Hungarian 25 insurers reported 1Q 2018 aggregate GWP up by 8.2% y-o-y to HUF 275.6 billion (EUR 881.9 million), according to the market data published by the National Bank of Hungary (MNB).
14 June 2018Young Hungarians expect sunny years after retirement
4 June 2018STATISTICS: Hungary FY2017: Of 25 active insurers, only one reported losses, Central Bank said
Hungarian 25 insurers reported FY2017 aggregate GWP up by 7% y-o-y to HUF 948.1 billion (EUR 3 billion), according to the market data published by the National Bank of Hungary (MNB).
26 April 2018VIENNA Insurance Group completes mergers in Hungary and Slovakia
VIENNA Insurance Group announced Hungary's central bank approved the merger of the three VIG Group companies. Thus, starting 1 April 2018, VIG will be represented in Hungary solely by the insurance company UNION Biztosito, while in Slovakia, bancassurer Poistovna Slovenskej sporitelne (PSLSP) will merge with Kooperativa Poistovna.
4 April 2018HUNGARIAN Post Life Insurance Company constantly adapts to ensure success
While the Hungarian financial services market is forced to navigate new legislation, the insurance sector continues to thrive by using digitalisation to meet clients' demands.
28 March 2018HUNGARY: CIG Pannonia expands to Baltic states
Hungarian insurer CIG Pannonia is making inroads into markets in two of
the Baltic states through its general insurance unit Elso Magyar
Altalanos Biztosito (EMABIT), the company told national news agency MTI.
20 March 2018Sparklab Hungary turns one
8 March 2018HUNGARY: Green light from the Central Bank for the three VIG units' merger
The National Bank of Hungary (MNB) announced on its website it
approved the merger of the three local subsidiaries of the Austrian
VIENNA Insurance Group into one company. Gabor LEHEL, CEO of UNION
Biztosito, will be Chairman of the Board of the resulted entity after
the merger.
25 January 2018HUNGARY: MCI Group buys Hungarian online insurance broker Netrisk
MCI Group has acquired Netrisk, a Hungarian online insurance broker. The value of the deal is 56.6 million euros (about USD 67.8 million). Mezzanine Management and Bank Gospodarstwa Krajowego are co-investors in the transaction.
8 January 2018STATISTICS: HUNGARIAN insurers reported EUR 2.3 billion in GWP in the first nine months
Hungarian insurers nine-months GWP was up by 6.6% y-o-y to HUF 711.2 billion (EUR 2.3 billion), according to the most recent market figures published by the National Bank of Hungary (MNB).
14 December 2017Hungary: only 1,8% of the registered vehicles have no MTPL insurance policy
The number of cars not covered by MTPL insurance in Hungary has decreased substantially during the last five years, from 5.8% to 1.8%, as in September 2017, MABISZ - the Hungarian insurers' association said.
7 December 2017HUNGARY: CIG Pannonia premium revenues, profits up
Q1-Q3 revenues from premiums of Hungarian insurer CIG Pannonia Group rose 41% year-on-year to HUF 18.6 billion, the company said in an unaudited, consolidated IFRS earnings report released early Tuesday, as reported by state news agency MTI.
5 December 2017
