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Hungary Insurance Report Q2 2016

Hungary Insurance Report Q2 2016

BMI View: The outlook for Hungary's insurance market is highly positive. Rising levels of householdincome and solid demographic trends are boosting demand for various life products, leading to gains inpenetration and density rates over the five year forecast period. Strong demand for some of the smaller nonlifelines, 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 theforecast 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 ahealthy rate of 8.1% annually over the forecast period. While density (premiums per capita) will rise, therate of penetration (premiums against GDP) is expected to slip slightly as the non-life market is outpacedby wider economic growth.


BMI 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 Index - Q216
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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