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.

During the period analyzed, the life insurance business accounted for 36.4% (EUR 1.17 billion) and the non-life insurance business accounted for 63.6% of total GWP (EUR 2.05 billion).

Motor insurance GWP increased by 13.51%, to EUR 1.04 billion. The mandatory MTPL class saw a 12.1% growth in GWP, to EUR 674.45 million, while Motor Hull class recorded a 16.2% growth, to EUR 368.85 million.

At the end of September 2024, on the Hungarian insurance market were active 23 insurers: 4 specialized life insurers, 10 non-life, and 9 composite insurers.

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