Although pipe bursts and storms are the risks causing each about one third of the housing insurance claims in Hungary, it seems people fear most fire damage and burglary, the latest edition of the Aegonʼs Great Home Test (Nagy Lakasteszt) shows.

Hungarian insurers reported 3Q 2018 aggregate GWP up by 9.2% y-o-y to HUF 777 billion (EUR 2.4 billion), according to the market data published by the National Bank of Hungary (MNB).

The board of CIG Pannonia Life Insurance decided on 28 November to raise capital at its general insurance unit by HUF 1.5 billion (~EUR 4.63 million) and modify the unit's dividend policy, Hungarian news agency MTI reports.

Top 5 Hungarian insurers accounted together for 58.6% of the market GWP in 2017, according to the market data published by MABISZ, the local insurers' association. On the non-life side, the Top 5 market weight is even bigger, of 69.7%.

According to the first estimations of the Hungarian Association of Insurers (MABISZ), local insurers paid HUF 3.17 billion (EUR 9.7 million) between May 1 and August 31 for over 57 thousand claims for damages caused to individual and condominium buildings by storms, rainstorms, lightning, and hail.

Hungarian insurers have reported consolidated GWP worth HUF 520.15 billion in 1H2018, by 7.1% up y-o-y. Yet, given the over 6% depreciation of the Forint against the European currency, the market results denominated in Euro show a total GWP volume of EUR 1.58 billion, only 0.6% up y-o-y.

Only 10-20% have an accident insurance, while in many countries of the Western Europe accident insurance coverage among their population is of more than 80%, The Budapest Business Journal reports. The low penetration leaves about 8 million Hungarians uninsured for the accident risk.

Extreme weather conditions have significantly affected Hungary during the first half of June, resulting in about 18,500 claims files worth a combined HUF 2 billion (~EUR 6.1 million) in losses, the local association of insurers said.

Hungarian 25 insurers reported 1Q 2018 aggregate GWP up by 8.2% y-o-y to HUF 275.6 billion (EUR 881.9 million), according to the market data published by the National Bank of Hungary (MNB).

Hungarian 25 insurers reported FY2017 aggregate GWP up by 7% y-o-y to HUF 948.1 billion (EUR 3 billion), according to the market data published by the National Bank of Hungary (MNB).

The most important annual meeting of the Croatian insurers, the "Croatian Insurance Days", took place in Opatija, Croatia, on 7 - 9 November.

On November 1st, an Agricultural insurance conference took place in Skopje, Macedonia, organized by the Insurance Supervision Agency in cooperation with the Ministry of Agriculture, Forestry and Water Economy. Drawing attention to the necessity of reducing the risks in agriculture by using insurance was the event's main purpose.

Emmanuel DJENGUE, Innovation Director, Europe - RGAX, Spain is the Keynote Speaker at IIF 2018 - Insurance in a DIGITAL WORLD Conference in Bucharest, on November 27.

Becoming a growing threat globally, cyber risks is both a challenge and an opportunity for the insurance industry. MUNICH Re's representatives talked to XPRIMM TV in Baden Baden, about the different approach to this type of risk that the Group, as one of the most active players on the cyber market solutions, proposes.

End investors, Insurance-Linked Securities (ILS) funds, and buyers - the three groups active in ILS - have predominantly weathered 2017 loss activity with a view that reinsurance products backed by 'alternative' capital have become mainstream, according to a new Global ILS Market Survey by Willis Towers Watson.

Swiss Re expects the global reinsurance industry to consolidate as the distinction between insurers and reinsurers become increasingly blurred, an executive from the Swiss Group said in Baden Baden, reports Reuters.

Current market conditions are putting increasing pressure on returns with some companies viewing consolidation as a potential solution, James NASH, CEO of International at Guy Carpenter said in his opening remarks at the Baden-Baden 2018 Reinsurance Meeting hosted by the global risk and reinsurance specialist.

E+S Ruckversicherung AG, the Hannover Re Group's unit handling German business, continues to expect a positive premium development in the German market for the January 2019 renewals, albeit at a somewhat more diminished pace than in 2018.

The market volume for cyber insurance is expected to grow up to USD 8-9 billion by 2020, Doris HOEPKE, member of Munich Re's Board of Management stressed in Baden Baden adding that, "The demand for cyber risk cover is growing continuously. We therefore see it as our duty to develop solutions."