Research and Markets: Non-Life Insurance in Hungary, Key Trends and Opportunities to 2017

Business Wire

DUBLIN--(BUSINESS WIRE)--

Research and Markets (http://www.researchandmarkets.com/research/qsr64q/nonlife) has announced the addition of the "Non-Life Insurance in Hungary, Key Trends and Opportunities to 2017" report to their offering.

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. The country's insurance industry registered a CAGR of -1.6% during the review period (2008-2012), and was adversely affected by subdued economic conditions.

The decline was mainly led by the non-life insurance segment, which registered a CAGR of -3.0%. This contraction was primarily due to a decline in new vehicle sales, increased claims due to natural disasters and changes in the regulatory environment. However, over the forecast period, the segment is expected to be led by an increase in customer awareness of property insurance which will require innovative and customized non-life insurance products.

Key Highlights

- 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

- The country's insurance industry registered a CAGR of -1.6% during the review period

- The value of the Hungarian non-life insurance segment is expected to increase at a projected CAGR of 2.5% over the forecast period

- The growth is expected to be driven by the country's economic growth which, in turn, is expected to result in an increase in income levels, growth in the working population, and increased public awareness of the benefits of non-life insurance cover

- The property and motor insurance categories together account for 93.9% of the segment's gross written premium

Companies Mentioned

Allianz Hungária Biztosító Zrt.

Generali-Providencia Biztosító Zrt.

Groupama Garancia Biztosító Zrt.

Aegon Magyarország Általános Biztosító Zrt.

Uniqa Biztosító Zrt.

Union Vienna Insurance Group Biztosító Zrt.

K&H Biztosító Zrt.

Magyar Posta Biztosító Zrt.

Közlekedési Biztosító Egyesület.

AIG Europe Ltd

For more information visit http://www.researchandmarkets.com/research/qsr64q/nonlife

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Sector: Insurance

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