The European Commission has concluded that Hungary's decision to veto the acquisition of the Hungarian subsidiaries of the AEGON Group by Vienna Insurance Group (VIG) breached Article 21 of the EU Merger Regulation (EUMR). Hungary has to withdraw its veto by 18 March 2022.
22 February 2022
The MNB (Hungarian National Bank) no longer considers it necessary to maintain the dividend payment limit for insurers. However, the dividend size must consider the Bank's recommendation to maintain the 50% volatility capital buffer, as well as the impact of the changing yield environment on capital, the
MNB said in its recent statement,
portfolio.hu reports.
8 February 2022
According to preliminary data, the damage due to weekend storms may approach HUF 1 billion (~EUR 2.81 million*) as Hungarian insurers expect to receive more claims,
portfolio.hu reports.
1 February 2022
Austrian insurer Vienna Insurance Group (VIG) and the Hungarian government have reached an agreement on the principles of a cooperation and the further course of action, which provides for a participation of 45% by the Hungarian state in the Hungarian AEGON companies and UNION VIG.
27 December 2021
At the end of September 2021, the aggregate market gross profit of Hungarian insurers decreased by 5.8% y-o-y to HUF 66.3 billion the equivalent of EUR 184 million (vs. HUF 70.5 billion), according to the quarterly statistics published by the Central Bank of Hungary. At the same time, the value of net profit decreased by 6.3% y-o-y to HUF 61.8 billion (~EUR 171.4 million).
9 December 2021
Hungarian insurers posted aggregate Q3 2021 GWP worth HUF 1001.2 billion (~EUR 2.8 billion), rising by nearly 11.6% y-o-y.
8 December 2021
By the end of October 2021, Hungarian insurers reported outstanding claims (payments and reserves, summed-up) on agricultural insurance segment worth HUF 10 billion (~EUR 28 million), MABISZ (Hungarian Insurers Association) informed in a
statement.
1 December 2021
Despite the pandemic, growth of the insurance market has not stopped, as the president of the Association of Hungarian Insurers (MABISZ) said at the conference of the organization.
8 November 2021
Today, only 15-20% of Hungarians have some form of accident insurance coverage, which is far below the rates in Western European countries, reaching as high as 60-80%. In the second quarter of 2021, 625 thousand accident insurance policies were issued, according to the Hungarian Association of Independent Insurance Brokers (FBAMSZ),
portfolio.hu said.
20 October 2021
Tibor ZUBOR from Allianz will be the director of Uniqa Insurance's corporate business,
portfolio.hu said referring the company's statement.
11 October 2021
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).
23 September 2021
Within a few decades the current Hungarian pension system will become unsustainable and the population is barely prepared for this: the share of self-sufficiency savings (life insurance, pension funds, NYESZ) has fallen sharply in recent years within savings,
portfolio.hu wrote.
21 September 2021
After the weekend storms the expected damage amount has already exceeded one and half billion on Monday morning, although insurance companies believe that the number of related claims may even increase in the coming days, the
Association of Hungarian Insurers (MABISZ) announced.
15 July 2021
Hungarian unit of Aegon announced it has paid more than HUF 700 million (~EUR 2 million) for life and accidents coverages since the beginning of the Coronavirus pandemic, wrote portfolio.hu
here.
30 June 2021
Hungarian insurers' GWP rose 7% year-on-year to HUF 360.30 billion (EUR 990 million) in the first quarter of 2021, according to the quarterly statistics published by by the National Bank of Hungary (MNB).
17 June 2021
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).
14 June 2021
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.
25 May 2021
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.
26 April 2021
The transaction announced by Aegon in November 2020, of selling to Vienna Insurance Group (VIG) its insurance, pension and asset management business in Hungary, Poland, Romania and Turkey for a total consideration of EUR 830 million, has been stalled by Hungarian Ministry of Interior's unexpected denying of approval.
12 April 2021
Thanks to the statistical data recently published by MABISZ, the insurers' association in Hungary, we are able to finally provide for the 2019 market rankings.
25 March 2021