STATISTICS: HUNGARY: Insurers' 3Q net profit was up to EUR 180 million

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).

Life insurance GWP increased by 6% to HUF 358 billion (EUR 1.1 billion), while non-life GWP increased by 12.2% to HUF 418.8 billion (EUR 1.3 billion), as the nine-months figures reveal.

In terms of damages, the value of incurred claims (paid claims and reserves, summed-up) amounted to HUF 283.5 billion for life insurance contracts (+4.9% y-o-y) and HUF 183.7 billion for non-life policies, +3.4 less y-o-y. Overall, during January-September 2018, insurers paid out and made reserves an aggregate HUF 467.2 billion of incurred claims, up by 4.3% y-o-y.

The aggregate market gross profit increased by 28.9% y-o-y to HUF 61.6 billion (EUR 190 million), while the value of net profit was up by 28.7% to HUF 57.9 billion (EUR 180 million). At the same time, the technical result was HUF 46.4 billion (EUR 143.3 million) vs. HUF 31.3 billion a year before.

Access and download the 3Q2018 Hungarian insurance market statistics.

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