Location map
author: OCHA/ ReliefWeb

- Central Europe;
- Neighbours: Serbia, Croatia, Slovenia, Austria, Slovakia, Ukraine, Romania.

- temperate climate;
- cold, cloudy, humid winters;
- warm summers.

Macro indicators
* 2018 estimates
Pop. density*:105.1people/km2
GDP*:130.9EUR billion

European Union:
EU member, since 2004

Currency: Forint
Code: HUF
Since: 1946

Insurance market portfolio
* 2018 estimates
Overall Property*:18%
Overall Motor*:26%

Starting October 1, 2013, the National Bank of Hungary took over all activities of financial market regulator PSZAF



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Hungary 1H2022 Market Portfolio M N B

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Hungary 1Q2022 Market Portfolio M N B

See all statistics

Latest news

STATISTICS: Hungary: H1 market profit increased to EUR 146 million

Hungarian insurers' H1 2021 GWP rose 11.46% year-on-year to HUF 686.81 billion (EUR 1.94 billion), according to the quarterly statistics published by the National Bank of Hungary (MNB).

Revenue from premiums on life insurance policies increased
in local currency by more than 18% y-o-y to HUF 306.31 billion (EUR 870 million), while non-life GWP rose 6.6% to HUF 377.5 billion (EUR 1.7 billion). About 45% of premium income originated from the life insurance business and 55% from the non-life insurance business.

At the end of 2021 Q2, the total contract porolio of insurance companies rose by 0.8% from its level a year earlier, reflecting over 108,800 increase in new contracts to 14,496,469. This mainly resulted from a 1.02% rise in the number of non-life insurance contracts (to 12,161,353), accompanied by a somewhat declining number of life insurance contracts (a decline of 0.6% to 2,335,116).

PANDURICS, MABISZ: The competition in Hungarian market is strong

Last year, the GWP of MABISZ (Association of Hungarian Insurance Companies) member companies totaled HUF 1,242 billion (~EUR 3.4 billion), about 4.8% vs. FY 2019 figures (HUF 1,204 billion), according to the to the association's aggregate data.

CIG Pannonia is the potential buyer of Hungarian Aegon unit

After the decision of the Hungarian authorities to block the sale of Aegon NV's local unit to Vienna Insurance Group in a regional deal of EUR 830 million sale of Dutch insurer's CEE operations to Austrian insurer, Hungarian CIG Pannonia could be the potential buyer, Bloomberg informed here.

Hungary: Insurers' end-2020 net profits expanded by EUR 20 million to EUR 230 million

According to the quarterly MNB published statistics (Central Bank of Hungary), at the end of December 2020 the aggregate market gross profit of Hungarian insurers was up by 18.52% y-o-y to HUF 88.89 billion the equivalent of EUR 243 million (vs. HUF 75 billion), while the value of net profit increased by 18.83% y-o-y to HUF 84.16 billion (EUR 230 million).