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Hungary Insurance Report Q3 2015

75 Pages BMI Research May 06, 2015 SKU: BMI5552896

Hungary Insurance Report Q3 2015

BMI View: Hungary's insurance market is neither especially large nor growing at a particularly fast rate.

While the Hungarian economy is expected to grow at a moderate pace over 2015, concerns surrounding thehealth of the wider European economy look set to stymie demand for insurance coverage among bothbusiness and households. A shrinking population with a low average life expectancy presents a long-termchallenge for insurers; however, we see growth opportunities emerging in some markets, including propertyinsurance.

There are some markets in Central and Eastern Europe (CEE) that can look forward to superior growth inpremiums - and from a large base - through the forecast period. Hungary is not one of them. The country isa classic example of a fragmented market where excess capacity is causing prices to fall in the main subsectorsof the non-life segment (namely property and motor vehicle insurance). A key metric is totalpenetration. This has been fairly constant at about 2.7% of GDP (which is not a high level) and is expectedto remain broadly unchanged through the forecast period. Indeed, it appears that all the households andbusinesses that can afford life insurance (and who understand it) are already using it.

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Hungary Insurance Report Q3 2015

BMI Research
May 06, 2015

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Report with 3 quarterly updates
Report with 3 quarterly updates - 3 User License
Report with 3 quarterly updates - 5 User License
Report with 3 quarterly updates - Departmental/Site License
Global Site License Fulfilled by Publisher

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