Hungary

Location:
Central Europe, northwest of Romania

Climate:
temperate; cold, cloudy, humid winters; warm summers

Natural hazards:
-



Currency: Forint (HUF)

1 EUR = 314.89 Forints - HUF (December 31st, 2014)
1 EUR = 296.91 Forints - HUF (December 31st, 2013)
1 EUR = 291.29 Forints - HUF (December 31st, 2012)
1 EUR = 311.13 Forints - HUF (December 31st, 2011)
1 EUR = 278.75 Forints - HUF (December 31st, 2010)

Sources:

Starting October 1, 2013, the National Bank of Hungary took over all activities of financial market regulator PSzAF

Association of Hungarian Insurance Companies (MABISZ)
National Bank of Hungary
Hungarian Financial Supervision Authority (PSZAF)

Insurance statistics

1H2017Market portfolio (MNB)xlsx
1Q2017Market portfolio (MNB)xlsx
FY2016Insurance companies rankings (MABISZ)xlsx
FY2016Market portfolio (MNB)xlsx
3Q2016Market Portfolio (MNB)xlsx
1H2016Market portfolio (MNB)xlsx
1Q2016Market Portfolio (MNB)xlsx
FY2015Market portfolio (MNB)xlsx
FY2015Insurance Companies Rankingsxlsx
3Q2015Market portfolio (NBH)xlsx
3Q2015Insurance companies rankingsxlsx
1H2015Market portfolio (MNB)xlsx
1H2015Insurance companies rankingsxlsx
1Q2015Market Portfolio (PSZAF)xlsx
1Q2015Insurance Companies Rankingsxlsx
FY2014Market portfolio (PSZAF)xlsx
FY2014Insurance Companies Rankingsxlsx
3Q2014Market portfolio (NBH)xlsx
3Q2014Insurance companies rankingsxlsx
1H2014Insurance market overview pdf
1H2014Market portfolio (NBH)xlsx
1H2014Insurance companies rankingsxlsx
1Q2014Market portfolio (NBH)xlsx
1Q2014Insurance companies rankingsxlsx
FY2013Insurance market overview pdf
FY2013Market Portfolio (NBH)xlsx
FY2013Insurance Companies Rankingsxlsx
3Q2013Market Portfolio (PSZAF)xlsx
3Q2013Insurance Companies Rankingsxlsx
1H2013Insurance market overview pdf
1H2013
Insurance Companies Rankingsxlsx
1H2013Market Portfolioxlsx
1Q2013Insurance companies rankingsxlsx
1Q2013Market portfolio (PSZAF)xlsx
FY2012Insurance market overview pdf
FY2012Market portfolio (PSZAF)xlsx
FY2012Insurance companies rankings (MABISZ)xlsx
3Q2012Insurance Companies Rankingsxlsx
3Q2012Market Portfolio (PSZAF)xlsx
1H2012Insurance market overview pdf
1H2012Market portfolio (PSZAF)xlsx
1H2012Market portfolio (MABISZ)xlsx
1H2012Insurance companies rankingsxlsx
1Q2012Insurance companies rankingsxlsx
1Q2012Market portfolio (PSZAF)xlsx
1Q2012Market portfolio (MABISZ)xlsx
FY2011Insurance market overview pdf
FY2011Market portfolio (PSZAF)xlsx
FY2011Market portfolio (MABISZ)xlsx
FY2011Insurance companies rankingsxlsx
3Q2011Market portfolio (PSZAF)xlsx
3Q2011Market portfolio (MABISZ)
xlsx
3Q2011Insurance companies rankingsxlsx
1H2011Insurance market overviewpdf
1H2011Market portfolio and rankingsxlsx
2010
Insurance market overviewpdf
2010Market portfolio and rankingsxlsx
1H2009
Hungarian insurance market overviewpdf
1H2009 Market portfolio xls
1H2009 Life insurance rankingsxls
1H2009
Non-Life insurance rankings xls
2009Hungarian insurance market overview pdf
2009Market portfolioxls
2009Life insurance rankingsxls
2009Non-Life insurance rankingsxls
1H2010Hungarian insurance market overviewpdf
1H2010Market portfolioxls
1H2010Life insurance rankingsxls
1H2010Non-Life insurance rankings (total & main lines)xls


1H2017 Market portfolio (MNB)

1Q2017 Market portfolio (MNB)

HUNGARY: MNB sells stakes in MKB insurance units for EUR 1 mln

The National Bank of Hungary (MNB) has sold stakes in the insurance units of MKB Bank to their majority owner Versicherungskammer Bayern for EUR 1 mln, MKB Bank said today. The MNB sold 36.5% stakes in MKB's general insurance and life insurance units, leaving the bank with a 1% stake in both.

HUNGARY: Insurance law passed by Parliament

Parliament approved a new law on insurers that draws on post-crisis market and regulatory experience and transposes European Union directives into national rules, MTI reported today. The law gives clients cancellation rights for 30 days from the signing of life insurance policies longer than six months.

Lower risk for HUNGARIAN insurers (Study)

In a quantitative impact study on conforming to the Solvency II Directive, the National Bank of Hungary (MNB) found among Hungarian insurers a "significantly lower degree of risk compared to pan-European exposure, both for the market as a whole and for individual insurers", the central bank reported yesterday, adding that "Hungarian insurers should have little trouble conforming to a European Union directive harmonizing regulation in the sector".

HUNGARY: CIG Pannonia has deposits in Szechenyi Bank

The general insurance unit of CIG Pannonia Life Insurance has approximately HUF 170 mln in deposits at the troubled Szechenyi Commercial Bank, whose operating license was withdrawn by Hungary's central bank, the insurance company announced late yesterday. The deposits at the bank are expected not to affect the adequacy of the unit's warranty capital, and Hungary's National Deposit Insurance Fund is paying compensation to depositors up to HUF 30 mln, CIG Pannonia added.

VIENNA Life offers free insurance in HUNGARY

Insurance company Vienna Life Biztosito, the former AXA, is entering Hungary in its new form with an opening campaign offering free health insurance policies for those who register at the company's website.

STATISTICS: HUNGARY 1H2014: Increased car sales pushed up the motor insurance segment

Hungarian insurers recorded a slight increase, of 1.5%, in premium production in the first half of 2014, to HUF 435 billion. However, converted in European currency the result looks less encouraging, as the total GWP figure for 1H2014 was of EUR 1.4 billion, by 3.37% below the 1H2013 level. Once again the 5% depreciation of the local currency put an additional pressure on the foreign insurers operating on the Hungarian market.

HUNGARIAN CIG Pannonia enters Italian market

CIG Pannonia Life Insurance's general-insurance unit, CIG Pannonia First Hungarian General Insurance, has started to offer special surety-type insurance for carriers in the form of cross-border service to Italy, CIG Pannonia Life Insurance announced on Thursday.

HUNGARY: Number of home insurance contracts fall

Despite the increasing risk of storm damage, the number of home insurance contracts fell below 3 million. Since 2010 the number of policies signed in Hungary has dropped by 93,000, Hungarian daily Magyar Nemzet reported today, citing figures from the Hungarian Insurers Association (Mabisz).