The most recent figures published by MABISZ - the Association of Hungarian Insurers, showed that following the December 2020 earthquakes in Croatia claims paid by local insurers significantly exceed previous estimates, the number of opened claim files being even higher than in Croatia.
11 March 2021
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).
11 March 2021
Last year, the aggregate GWP reported by Hungarian insurers totaled HUF 1,204 billion (~EUR 3.3 billion), according to the year-end figures published by the Central Bank (MNB), 4.7% more y-o-y. The life insurance business accounted for 44% and the non-life insurance business for 56% of total premium income.
11 March 2021
Laszlo SEBESTYEN, the President of the largest Hungarian brokers' association (FBAMSZ - Hungarian Association of Independent Insurance Brokers) was given a mandate for another two years, informed
Biztosito Magazin.
25 February 2021
The National Bank of Hungary (MNB) recently launched a new index, showing the evolution of the annualized compulsory MTPL average premiums. Last year, the average MTPL price for passenger cars increased by 9% to HUF 44,523. MNB will update the index quarterly.
17 February 2021
Anett PANDURICS, President of MABISZ-the Association of Hungarian Insurance Companies and Chairwoman and CEO of Posta Biztosito, was elected to be part of the Budapest 2032 Committee, a body established by the Hungarian Olympic Committee to assess the possible candidacy of Budapest to organizing the Olympics of 2032.
1 February 2021
According to the quarterly MNB published statistics, at the end of September 2020 the aggregate market gross profit of Hungarian insurers was up by 27.20% y-o-y to HUF 70.45 billion the equivalent of EUR 193 million (vs. HUF 55.39 billion), while the value of net profit increased to HUF 65.96 billion (EUR 180 million).
21 January 2021
DELOITTE assisted the Austrian insurer VIG in taking over the units of the Dutch financial group AEGON in Hungary, Poland, Romania and Turkey, informed the Romanian insurance news portal www.1asig.ro
here
13 January 2021
The Central Bank of Hungary - Magyar Nemzeti Bank (MNB) the regulator and supervisor of Hungarian insurance market fined local insurer GROUPAMA Biztosito HUF 49.5 million (about ~ EUR 137,500) for the violations of MTPL's portfolio management, IT security, remuneration policy, risk management system, and other deficiencies of customer information and complaint handling.
13 January 2021
The National Bank of Hungary (MNB) imposed a fine of HUF 60 million (~EUR 166 thousand*) on Aegon Biztosito as a result of multiple deficiencies on insurer's activity, including investment life insurance and KGFB portfolio management, outsourcing activities, IT security, customer information, complaint handling, and (in several business lines) customer contracts.
18 November 2020
Dutch insurer AEGON has put its CEE units - including Poland, Romania, Hungary and Turkey -, up for sale, Reuters
wrote citing sources close to insurer.
29 October 2020
Bence HOLLO will be appointed Chief Executive Officer (CEO) of NN Hungary, effective 1 December, subject to regulatory approval, as the Dutch insurance group announced in a statement.
14 October 2020
According to the half-year market figures published by the Central Bank of Hungary - MNB, the insurance sector's 1H2020 premium income amounted to HUF 613 billion (~EUR 1.72 billion), rising in local currency by 3.65% y-o-y. Life insurance H1 2020 premium income increased by about 0.59% to HUF 259.4 billion, while non-life segment expanded by more than 6pp to HUF 353.69 billion. About 42.31% of premium income originated from the life insurance business and 57.69% from the non-life insurance business.
1 October 2020
The Central Bank of Hungary (MNB) intend to change the premiums paid by customers on MTPL insurance (kgfb in Hungarian) by January 1, 2021. About a week ago, it calls local insurers to review the tarrifs taking into account the "kgfb database" which has been accessible to insurers now for three quarters.
23 September 2020
At the end of July 2020, the Hungarian insurer CIG Pannonia annoucned that that employment of the CEO - Gabriella KADAR and Deputy CEO - Miklos BARTA of the company - will end on September 30, 2020.
1 September 2020
The Hungarian insurance market amounted to HUF 336.4 billion (~EUR 936 million*) in 2020 Q1, rising by 6.3% relative to the same period of the previous year, according to the quarterly statistics published by the National Bank of Hungary - MNB.
2 July 2020
According to the year-end market figures published by the Central Bank of Hungary - MNB, the insurance sector's FY2019 premium income amounted to HUF 1,150.48 billion (~EUR 3.48 billion), rising by 12.33% y-o-y.
12 March 2020
During February 2020, Fitch Ratings, the leading provider of credit ratings, affirmed the ratings of Russia ('BBB'), Kazakhstan ('BBB'), Georgia ('BB'), Turkey ('BB-'), Bulgaria ('BBB') and Hungary ('BBB').
3 March 2020
NN officially announced its entrance in the Hungarian non-life insurance market. The company plans to offer three non-life types of products which will widen its product portfolio.
24 February 2020
David BARANYAI, currently CSO NN Hungary, has been appointed CEO NN Insurance Hungary on an ad interim basis, subject to regulatory approval. The appointment is effective as of 17 February 2020.
17 February 2020