Hungary
HUNGARY: 49% of Hungarian drivers use vehicles older than 16 years
Nearly half (49%) of Hungarian drivers use vehicles older than 16 years, according to a recent study by Europ Assistance, portfolio.hu writes.
13 October 2025HUNGARY: After many years of decline, penetration in the Hungarian insurance market is increasing again
After many years of decline, penetration in the Hungarian insurance market is increasing again, thanks to the double-digit increase in premium income in the first half of the year, in which the favorable transformation of the extra-profit tax also plays a major role.
7 October 2025HUNGARY: Payments for storm damages this year see an increase of nearly HUF 3 billion
This year, 101,032 claims were received by Hungarian insurers following the storms between May 1 and August 31, and insurers have already paid out HUF 13.12 billion (~EUR 33.63 million) and are making reserves for claim payments, portfolio.hu reports.
23 September 2025STATISTICS: HUNGARY 1H2025: Rising premiums, stable solvency, and expanding portfolios
The Hungarian insurance sector showed solid growth and stability in the first half of 2025, according to the latest supervisory data. By the end of Q2 2025, cumulative premium income reached HUF 1,047.7 billion (EUR 2.62 billion), up 20.3% y-o-y.
11 September 2025HUNGARY: A devastating storm in Hungary: more than 45 thousand homes damaged
In the beginning of July, a storm of extraordinary force hit Hungary, causing serious damage, portfolio.hu reports.
17 July 2025STATISTICS: Hungarian insurers' Q1 was highly profitable and also saw a strong GWP growth
The aggregate Q1 GWP reported by Hungarian insurers totaled HUF 568.96 billion (~EUR 1.41 billion), 24.22% more y-o-y, according to the Q1 statistics published by the Central Bank of Hungary (local currency). The life insurance business accounted for 40.7%, a significantly higher weight in the market portfolio as compared with Q1 2024 (+7 percentage points).
17 June 2025Hungarian farmers paid nearly HUF 25 billion in crop insurance premiums in 2024
In 2024, Hungarian farmers paid over HUF 24.9 billion (~EUR 60.7 million) in crop insurance premiums, 15.7% less y-o-y. According to Trade Magazine, approximately HUF 23.9 billion -or 96% of the total premiums - were associated with the state’s ex-post premium subsidy scheme.
17 April 2025STATISTICS: HUNGARY FY2024: Insurers' after-tax profit increased by 119.1% y-o-y
The Hungarian insurance sector’s cumulative premium income amounted to HUF 1,695.5 billion in 2024 (EUR 4.13 billion), 12.4% higher y-o-y, data provided by the National Bank of Hungary show. While the life insurance premium income rose by 11%, non-life GWP increased by13.2%.
27 March 2025HUNGARY: The Hungarian Insurers Association elects its new President
With the expiration of the mandate of the previous presidency, the Hungarian Insurers Association (MABISZ) elected a new, eight-member Executive Board on March 12, 2025, the Association said on its website.
17 March 2025Hungary: the average MTPL premium grew twice as fast as claims expenses in Q3
In Q3 2024, the average annual premium for mandatory MTPL insurance for standard-use passenger cars in Hungary rose by 10% y-o-y, reaching HUF 58,000, said the National Bank of Hungary. Claims costs rose by half as much, and there was no growth in claims expenses during the last quarter. With inflation declining, a smaller increase would have been justified.
12 December 2024Hungary: home insurance premiums increased, in average, by 19% y-o-y in Q3 2024
The consumer-friendly home insurance policies offer significant advantages compared to other market options. Their average premium is 22% lower than the average annual premium for fully insured residential properties and amounts to HUF 50,800, according to the Hungarian National Bank’s Q3 2024 Home Insurance Index.
12 December 2024STATISTICS: HUNGARY 3Q2024: positive evolution for all the main business lines
According to the quarterly statistics published by the Central Bank of Hungary, at the end of Q3 2024, the aggregate GWP of Hungarian insurers reached EUR 3.23 billion, 9.87% up y-o-y. In local currency, the market growth was 11.65% y-o-y.
12 December 2024HUNGARY: Drunk driving is an offense that applies to electric scooters users too
According to a survey conducted this summer, there are 100,000 electric scooters on the Hungarian roads, includes private vehicles and scooter-sharing providers in major cities, Hungary Today wrote referring to a decision of the Criminal Chamber of the Budapest-Capital Regional Court of Appeal.
17 October 2024HUNGARY: MNB: Compulsory motor vehicle liability insurance rises by 10%
At the end of the 2Q the average MTPL annual premium for passenger cars rose by 10% y-o-y to HUF 57,000 (~EUR 144.44). This also indicates an increase of 1.6% compared to the previous quarter's value, according to the Magyar Nemzeti Bank (MNB), Portfolio.hu reports.
18 September 2024STATISTICS: HUNGARY 1H2024: repeated extreme weather events led to a 35.6% increase in the paid claims for property insurance
The Hungarian insurance market saw an about 5% y-o-y increase in GWP, to EUR 2.2 billion, data provided by MNB show. However, denominated in local currency (HUF, Hungarian Forint) the market results show a higher growth rate, of almost 12%, the difference reflecting the depreciation of the Hungarian Forint against Euro.
9 September 2024STATISTICS: Hungarian insurers' Q1 net profits more than doubled to over EUR 40 million
The aggregate Q1 GWP reported by Hungarian insurers totaled HUF 458 billion (~EUR 1.2 billion), 8.62% more y-o-y, according to the Q1 statistics published by the Central Bank of Hungary. The life insurance business accounted for 33.3% and the non-life insurance business accounted for 66.6% of total premium income.
8 July 2024HUNGARY: MABISZ: Satisfaction with insurance companies is stabilizing at a high level
According to a survey conducted this year by Századvég, more than four-fifths of customers are satisfied with the work of insurance companies, the Association of Hungarian Insurers (MABISZ) said.
17 June 2024HUNGARY: new legal provisions concerning the micromobility devices’ MTPL insurance provisions will apply starting July
The range of vehicles that must have mandatory MTPL insurance in Hungary will expand. This requirement will apply to the affected parties starting from July 16, 2024. The Association of Hungarian Insurance Companies (MABISZ) provided the basic details on the regulatory change.
16 May 2024STATISTICS: Hungary: insurers' YE2023 net profits decreased to EUR 55 million
According to the YE 2023 MNB (the National Bank of Hungary) statistics, the local insurance market totaled at the end of last year about HUF 1,508 billion (EUR 3.94 billion), up by 5.65% y-o-y.
12 March 2024HUNGARY: The average Motor Hull price increase was only 9.5% last year
According to the data of the insurance intermediary Insura.hu, the average price of Motor Hull for passenger cars last year was HUF 205,200 (~EUR 535), which was 9.5% higher than in 2022, Portfolio.hu reports.
7 February 2024
