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Hungary Insurance Report Q2 2016

  • ID: 3616103
  • February 2016
  • Region: Hungary
  • 56 pages
  • Business Monitor International
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The outlook for Hungary's insurance market is highly positive. Rising levels of household income and solid demographic trends are boosting demand for various life products, leading to gains in penetration and density rates over the five year forecast period. Strong demand for some of the smaller nonlife lines, such as health and personal accident insurance, will also support growth in the non-life sector.

Key Updates And Forecasts

- Life insurance is expected to prove the main source of growth in Hungary's insurance market over the forecast period. Life premiums are currently forecast to grow by 11.7% annually between 2016 and 2020, meaning that life premiums will account for over 60% of all premiums written.

- While growth will be slower in the smaller non-life sector, premiums are also expected to rise by a healthy rate of 8.1% annually over the forecast period. While density (premiums per capita) will rise, the rate of penetration (premiums against GDP) is expected to slip slightly as the non-life market is outpaced by wider economic growth.

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Industry View
Table: Headline Insurance Forecasts (Hungary 2013-2020)

SWOT

Insurance

Industry Forecast

Life Premiums Forecast
Table: Life Premiums (Hungary 2013-2020)
Table: Life Insurance Claims (Hungary 2007-2014)

Non-Life Premiums Forecast
Table: Non-Life Premiums (Hungary 2013-2020)
Table: Non-Life Insurance Claims (Hungary 2008-2014)

Non-Life Sub-Sector Forecast
Table: Non-Life Insurance Premiums by Product Line (Hungary 2013-2020)

Industry Risk Reward Ratings

Emerging Europe Risk/Reward Index
Table: Emerging Europe Insurance Risk/Reward IndexQ216

Market Overview

Life Market Overview

The Product Offering

Competitive Landscape
Table: Life Insurance Premiums (USDmn), 2008-2014

Non-Life Market Overview

The Product Offering

Competitive Landscape
Table: Non-Life Insurance Premiums (USDmn), 2008-2014

Company Profile

Allianz

Generali

Groupama

UNIQA Group

Vienna Insurance Group (VIG)

Methodology

Industry Forecast Methodology

Risk/Reward Index Methodology
Table: Indicators
Table: Weighting of Indicators

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Note: Product cover images may vary from those shown

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Our Clients

  • Transatlantic Holdings, Inc.
  • Aon Plc.
  • Swiss Reinsurance Company Ltd.
  • Prudential Financial, Inc.
  • General Reinsurance Corporation
  • ING Group