Hungary

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Location map
author: OCHA/ ReliefWeb


Location:
- Central Europe;
- Neighbours: Serbia, Croatia, Slovenia, Austria, Slovakia, Ukraine, Romania.

Climate:
- temperate climate;
- cold, cloudy, humid winters;
- warm summers.

Macro indicators
* 2018 estimates
Surface:93,030km2
Population*:9.8million
Pop. density*:105.1people/km2
GDP*:130.9EUR billion
GDP/capita*:13,383.1EUR

European Union:
EU member, since 2004

Currency: Forint
Code: HUF
Since: 1946


Insurance market portfolio
* 2018 estimates
TOTAL LIFE*:47%
TOTAL NON-LIFE*:53%
Overall Property*:18%
Overall Motor*:26%


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






 


Statistics

Hungary 1Q2019 Market Portfolio M N B

Hungary FY2018 Market Portfolio


See all statistics

Latest news

Allianz Hungaria Zrt. has a new CEO and President

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.

STATISTICS: HUNGARY, 1Q2019: Market profitability remained almost unchanged

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.


GENERALI to take over ERGO units in Hungary and Slovakia

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.

HUNGARY: New regulations for unit-linked policies

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.






Aegon: Hungarian homeowners fear most fire and burglary damages

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.









Hungary: less than 20% of Hungarians have an accident insurance policy

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.