About 10,000 claim files were reported by Hungarian insurers following the first week of February's storms, Budapest Business Journal reported quoting MABISZ (the Hungarian Association of Insurers) representatives.
13 February 2020
Based on the 3Q2019 results, last year was a successful one for Hungarian insurance companies, the 11% y-o-y increase in GWP justifying optimistic expectations for the year-end result. "Premium income of the sector is expected to exceed HUF 1,100 billion (~EUR 3.3 billion) by the end of the year," said Mihaly ERDOS, vice president of the Hungarian Insurance Association (MABISZ).
30 January 2020
Hungarian insurance market totaled HUF 862.20 billion (EUR 2.66 billion) at the end of Q3 2019, 10.97% more y-o-y, official statistics showed. In terms of damages, the value of incurred claims (paid claims and reserves, summed-up) amounted to HUF 312.95 billion for life insurance contracts (+10.72% y-o-y) and HUF 198.45 billion for non-life policies, +13.96 more y-o-y.
12 December 2019
The Central Bank of Hungary (MNB) announced the introduction of Certified Consumer-Friendly Home Insurance system (Minositett Fogyasztobarat Otthonbiztositas - MFO), to be available to consumers starting Q1 2020.
2 December 2019
Michal HUCAL will be appointed Chief Executive Officer (CEO) of NN Hungary, effective 1 January 2020, subject to regulatory approval, as the Dutch insurance group informed in a statement. "As CEO of NN Hungary, he will focus on continuing our growth in the local market".
28 November 2019
The National Bank of Hungary (MNB) announced the decision to temporarily suspend NOVIS life insurance product distribution after the regulator found several problems that might affect the Hungarian customers.
12 November 2019
Hungarian branch of UNIQA was fined with HUF 108 million (~ EUR 320,000) by the Central Bank of Hungary (MNB), following an investigation from the regulator who found several problems regarding internal control, insurance portfolio management and customer service.
26 September 2019
In terms of summer storms losses, 2019 was an average year for Hungarian insurers. As the latest Association of Hungarian Insurance Companies (MABISZ) analysis shows, local insurers paid around HUF 4.1 billion (~ EUR 12 million) in households claims related to weather events, between May 1st - August 31st.
18 September 2019
Hungarian H1 insurers' GWP rose 11.3% year-on-year to HUF 591.5 billion (~EUR 1.8 billion) according to the quarterly market figures published by the National Bank of Hungary (MNB).
5 September 2019
7 August 2019
Alexander PROTSENKO has been appointed as the new President and CEO of Allianz Hungarian branch. He will take over the position held by Peter KISBENEDEK, who served Allianz Hungaria Zrt. for more than 11 years, after choosing to continue his career outside Allianz.
19 July 2019
25 Hungarian insurers reported 1Q2019 aggregate GWP up by 14.8% y-o-y to HUF 316.4 billion (EUR 986 million), according to the quarterly market data published by the National Bank of Hungary (MNB). Life insurance GWP increased by 11.2% to HUF 132 billion (EUR 411 million), while non-life GWP increased by 17.5% to HUF 185 billion (EUR 575 million), as the MNB figures reveal.
27 June 2019
The high interest in digitalization of the Hungarian branch of UNIQA paid off, making UNIQA an innovation "trendsetter" in the local market with its recently launched projects, like UNIQA HomeGuard and UNIQA CHERRISK.
13 June 2019
Italian insurer GENERALI announced signing an agreement to take over the entire life, non-life and composite insurance portfolios of three entities of ERGO International AG in Hungary and Slovakia. The sale is subject to certain regulatory and anti-trust approvals, as is customary for transactions of this kind. The parties have agreed not to provide details of the purchase price and other terms.
4 April 2019
New amendments from the Hungarian Ministry of Finance on unit-linked life insurance will come into force on July 1, 2019. The adjustment of the Insurance Activities Act creates new obligations for insurers.
4 April 2019
Hungarian insurersʼ revenues from premiums rose 7.1% y-o-y in 2018 to
HUF 1,024 billion (EUR 3.2 billion), as the figures recently published
by the National Bank of Hungary (MNB) show.
14 March 2019
According to the Association of Hungarian Insurance Companies (MABISZ), between 2010 and 2017, Hungarian insurers paid aprox. HUF 40 billion for a total of 50,000 reported fire incidents. 2012 was the most severe year, with fires causing HUF 10 billion in damage.
21 February 2019
During 2008-2017 the main segments of the Hungarian insurance market - life and non-life insurance -, recorded a U-shape trend, both in written premiums and paid claims terms. Life insurance claims made the only exception from this path, recording a growth trend in the toughest years of the financial crisis.
7 February 2019
Hungary's central bank aims to introduce in the second half of 2019 measures to enhance competition in the home insurance market, the central bank's managing director for oversight of financial organizations Csaba KANDRACS said, quoted by Reuters.
8 January 2019
2 January 2019