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Life Insurance in Hungary, Key Trends and Opportunities to 2018

  • ID: 2880546
  • June 2014
  • Region: Hungary
  • 289 pages
  • Timetric

The report provides in-depth market analysis, information and insights into the Hungarian life insurance segment, including:
- The Hungarian life insurance segment’s growth prospects by life insurance categories
- Key trends and drivers for the life insurance segment
- The various distribution channels in the Hungarian life insurance segment
- The detailed competitive landscape in the life insurance segment in Hungary
- Detailed regulatory policies of the Hungarian insurance industry
- A description of the life reinsurance segment in Hungary
- Porter's Five Forces analysis of the life insurance segment

In terms of gross written premium, the Hungarian insurance industry is the third-largest in the Central and Eastern European (CEE) region, after Poland and the Czech Republic. Having been affected by adverse economic conditions in the eurozone, the Hungarian insurance industry declined at a compound annual growth rate (CAGR) of 0.7% during the review period (2009–2013). Life insurance was the largest segment within the Hungarian insurance industry with a 54.9% share of total premiums in 2013, and with the segment recording a review-period READ MORE >

Note: Product cover images may vary from those shown

1 Executive Summary
2 Introduction
2.1 What is this Report About?
2.2 Definitions
2.3 Methodology
3 Hungarian Insurance Industry Attractiveness
3.1 Insurance Industry Size, 2009–2018
3.2 Key Industry Trends and Drivers
3.3 Challenges
3.4 Recent Market Developments
4 Life Insurance Outlook
4.1 Consumer Segmentation and Buying Behavior
4.2 Product and Marketing Strategies
4.3 Life Insurance Growth Prospects by Category
4.4 Individual Life Insurance
4.4.1 Individual whole life insurance
4.4.2 Individual general annuity insurance
4.4.3 Individual pension insurance
4.4.4 Individual endowment insurance
4.4.5 Individual term life insurance
4.4.6 Individual supplementary insurance
4.4.7 Individual other insurance
4.5 Group Life Insurance
4.5.1 Group superannuation insurance
4.5.2 Other group life insurance
4.6 Life Insurance Growth Prospects by Product Type
4.6.1 Individual single-premium policies
4.6.2 Individual non-single-premium policies
4.6.3 Group single-premium policies
4.6.4 Group non-single-premium policies
4.7 Life Insurance Growth Prospects by Product Type
4.7.1 Total linked business insurance
4.7.2 Total non-linked business insurance
5 Analysis by Distribution Channel
5.1 Direct Marketing
5.2 Bancassurance
5.3 Agencies
5.4 E-commerce
5.5 Brokers
5.6 Other Channels
6 Porter’s Five Forces Analysis – Hungarian Life Insurance
6.1 Bargaining Power of Supplier: High
6.2 Bargaining Power of Buyer: Medium
6.3 Barriers to Entry: Medium
6.4 Intensity of Rivalry: High
6.5 Threat of Substitutes: Medium
7 Reinsurance Growth Dynamics and Challenges
7.1 Reinsurance Segment Size, 2009–2018
7.2 Reinsurance Segment Size by Type of Insurance, 2009–2018
8 Governance, Risk and Compliance
8.1 Legislation Overview and Historical Evolution
8.2 Regulations by Type of Insurance
8.2.1 Life insurance regulations
8.2.2 Property insurance regulations
8.2.3 Motor insurance regulations
8.2.4 Marine, aviation and transit insurance regulations
8.2.5 Personal accident and health insurance regulations
8.3 Compulsory Insurance
8.3.1 Motor third-party liability insurance
8.3.2 Air carriers and aircraft operators insurance
8.3.3 Workers’ compensation insurance
8.3.4 Marine liability insurance
8.4 Supervision and Control
8.4.1 International Association of Insurance Supervisors (IAIS)
8.4.2 European Insurance and Occupational Pension Authority (EIOPA)
8.4.3 Hungarian Financial Supervisory Authority (HFSA)
8.5 Non-Admitted Insurance Regulations
8.5.1 Overview
8.5.2 Intermediaries
8.5.3 Market practices
8.5.4 Fines and penalties
8.6 Company Registration and Operations
8.6.1 Types of insurance organization
8.6.2 Establishing a local company
8.6.3 Foreign ownership
8.6.4 Types of license
8.6.5 Capital requirements
8.6.6 Solvency margins
8.6.7 Reserve requirements
8.6.8 Investment regulations
8.6.9 Statutory return requirements
8.6.10 Fee structure
8.7 Taxation
8.7.1 Insurance premium or policy taxation
8.7.2 Withholding tax on insurance premium paid overseas
8.7.3 Corporate tax
8.7.4 VAT
8.7.5 Captives
8.8 Legal System
8.8.1 Introduction
8.8.2 Access to court
8.8.3 Alternative dispute resolution (ADR)
9 Competitive Landscape and Strategic Insights
9.1 Overview
9.2 Leading Companies in the Hungarian Life Insurance Segment
9.3 Comparison of the Top Five Insurers
9.3.1 Gross Written Premium
9.3.2 Net Earned Premium
9.3.3 Incurred Loss
9.3.4 Total Investment Income
9.3.5 Assets
9.4 ING Biztosító Zrt. – Company Overview
9.4.1 ING Biztosító Zrt. – Key facts
9.4.2 ING Biztosító Zrt. – Key financials
9.5 Allianz Hungária Biztosító Zrt. – Company Overview
9.5.1 Allianz Hungária Biztosító Zrt. – Key facts
9.5.2 Allianz Hungária Biztosító Zrt. – key financials
9.6 Groupama Garancia Biztosító Zrt. – Company Overview
9.6.1 Groupama Garancia Biztosító Zrt. – key facts
9.6.2 Groupama Garancia Biztosító Zrt. – key financials
9.7 Generali-Providencia Biztosító Zrt. – Company Overview
9.7.1 Generali-Providencia Biztosító Zrt. – key facts
9.7.2 Generali-Providencia Biztosító Zrt. – Key financials
9.8 Magyar Posta Életbiztosító Zrt. – Company Overview
9.8.1 Magyar Posta Életbiztosító Zrt. – key facts
9.8.2 Magyar Posta Életbiztosító Zrt. – key financials
9.9 Aegon Magyarország Zrt. – Company Overview
9.9.1 Aegon Magyarország Zrt. – key facts
9.9.2 Aegon Magyarország Zrt. – key financials
9.1 Uniqa Biztosító Zrt. – Company Overview
9.10.1 Uniqa Biztosító Zrt. – key facts
9.10.2 Uniqa Biztosító Zrt. – key financials
9.11 CIG Pannónia Elso Magyar Általános Biztosító Zrt. – Company Overview
9.11.1 CIG Pannónia Elso Magyar Általános Biztosító Zrt. – key facts
9.11.2 CIG Pannónia Elso Magyar Általános Biztosító Zrt. – key financials
9.12 MetLife Biztosító Zrt. – Company Overview
9.12.1 MetLife Biztosító Zrt. – Key facts
9.12.2 MetLife Biztosító Zrt. – Key financials
9.13 Erste Vienna Insurance Group Biztosító Zrt. – Company Overview
9.13.1 Erste Vienna Insurance Group Biztosító Zrt. – key facts
9.13.2 Erste Vienna Insurance Group Biztosító Zrt. – key financials
10 Business Environment and Country Risk
10.1 Business Confidence
10.1.1 Market capitalization trend – Budapest Stock Exchange, Hungarian
10.2 Economic Performance
10.2.1 GDP at constant prices (US$)
10.2.2 GDP per capita at constant prices (US$)
10.2.3 GDP at current prices (US$)
10.2.4 GDP per capita at current prices (US$)
10.2.5 GDP by key segments
10.2.6 Agriculture, hunting, forestry and fishing net output at current prices (US$)
10.2.7 Agriculture, hunting, forestry and fishing net output at current prices as a percentage of GDP
10.2.8 Manufacturing net output at current prices (US$)
10.2.9 Manufacturing net output at current prices as a percentage of GDP
10.2.10 Mining, manufacturing and utilities at current prices (US$)
10.2.11 Mining, manufacturing and utilities at current prices, as percentage of GDP
10.2.12 Construction net output at current prices, (US$)
10.2.13 Construction net output at current prices as a percentage of GDP
10.2.14 Inflation rate
10.2.15 Exports as a percentage of GDP
10.2.16 Imports as a percentage of GDP
10.2.17 Merchandise exports growth
10.2.18 Merchandise imports growth
10.2.19 Annual average exchange rate HUF–US$
10.3 Infrastructure
10.3.1 Commercial vehicles exports – total value
10.3.2 Commercial vehicles imports – total value
10.3.3 Automotive exports – total value
10.3.4 Automotive imports – total value
10.3.5 Total internet subscribers
10.4 Labor Force
10.4.1 Labor force
10.4.2 Unemployment rate
10.5 Demographics
10.5.1 Gross national disposable income (US$)
10.5.2 Household consumption expenditure (US$)
10.5.3 Total population
10.5.4 Urban and rural populations
10.5.5 Age distribution of the total population
11 Appendix
11.1 Methodology
11.2 Contact Timetric
11.3 About Timetric
11.4 Timetric’s Services
11.5 Disclaimer

Note: Product cover images may vary from those shown
Note: Product cover images may vary from those shown


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