STATISTICS: HUNGARY, 1Q2017: incurred claims went up by 12.2%, while GWP increased by only 8.5% y-o-y

The Hungarian insurance market totaled HUF 254.7 billion (EUR 825 million) at the end of March 2017, 8.5% more y-o-y, according to the statistics published by the Central Bank.

Life insurance accounted for 43.6% of total GWP portfolio - of which 21.2% unit-linked / index-linked policies and 9.2% - endowment insurance.

As compared with last year, the share of non-life classes in total market increased to 56.4% GWP or HUF 143.7 billion. In case of general insurance, the largest shares were accounted by property policies (20.9% of total GWP), MTPL (19.3%) and MoD (8%).

In terms of losses, the aggregate volume of incurred claims by insurers increased by 12.2% y-o-y to HUF 141.4 billion (EUR 458 million).

Access www.xprimm.com and download the 1Q2017 Hungarian insurance market statistics.

Share |

Related articles

VIENNA Insurance Group completes mergers in Hungary and Slovakia

VIENNA Insurance Group announced Hungary's central bank approved the merger of the three VIG Group companies. Thus, starting 1 April 2018, VIG will be represented in Hungary solely by the insurance company UNION Biztosito, while in Slovakia, bancassurer Poistovna Slovenskej sporitelne (PSLSP) will merge with Kooperativa Poistovna.

2018-04-04

HUNGARY: CIG Pannonia to merge MKB insurers into its units

Hungarian insurer CIG Pannonia announced it will merge into its units (CIG Pannonia Life Insurance and CIG Pannonia First Hungarian General Insurance) the two MKB insurers recently acquired: MKB Life Insurance and MKB General Insurance.

2017-04-20
photodune-3834701-laughing-girl-xs

STATISTICS: Hungarian market leaders in 2016

The thirty active members of MABISZ (the Hungarian insurance association) posted aggregate FY2016 GWP of HUF 920.6 billion (~ EUR 2.9 billion), up by 5.1% y-o-y, according to the association's website.

2017-04-13

ON THE MOVE

Three new appointments at XL Catlin insurance operations

XL Catlin insurance operations announced on 4 June three appointments: Donnacha SMYTH as President Global Excess Casualty Insurance; Carla GREAVES as Chief Underwriting Officer, Global Excess Casualty; Aurelie FALLON SAINT-LO as Senior Underwriter, Environmental and Client & Distribution Leader for Western France.

07.06.2018

TOP EVENT

5th Annual Insurance Business Forum "Challenges of the Year 2018"

will take place on September 17-21, 2018 in Sochi
The upcoming Forum, supported by the All-Russian Union of Insurers (ARIA), will logically continue a detailed discussion of the most pressing issues previously raised at ARIA events in 2018: Insurance and Reinsurance International Congress in Moscow and Insurance International Conference in St. Petersburg.

12.06.2018

See all