According to the Q1 statistics published by the Central Bank of Hungary, at the end of March 2021 the aggregate market gross profit of Hungarian insurers decreased by 10% y-o-y to HUF 24.59 billion the equivalent of EUR 67.6 million (vs. HUF 27.12 billion).

The value of net profit decreased by 10.7% y-o-y to HUF 22.72 billion (EUR 62.47 million).

At the same time, the technical result (life and non-life, summed-up) increased by 11.8% y-o-y to HUF 20.84 billion vs. HUF 18.63 billion a year before.

At the end of March 2021, on the Hungarian insurance market were active 22 insurers: 5 specialized life insurers, 9 non-life, and 8 composite insurers.

The aggregate Q1GWP reported by Hungarian insurers totaled HUF 360 billion (~EUR 990 million), 7.12% more y-o-y. The life insurance business accounted for 42% and the non-life insurance business for 58% of total premium income.