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Life Insurance in Hungary, Key Trends and Opportunities to 2020

Life Insurance in Hungary, Key Trends and Opportunities to 2020

Synopsis

Timetric’s 'Life Insurance in Hungary Key, Trends and Opportunities to 2020' report provides a detailed outlook by product category for the Hungarian life insurance segment, and a comparison of the Hungarian insurance industry with its regional counterparts.

It provides key performance indicators such as written premium, incurred loss, commissions and expenses, total assets and total investment income during the review period (2011–2015) and forecast period (2015–2020).

The report also analyzes distribution channels operating in the segment, gives a comprehensive overview of the Hungarian economy and demographics, and provides detailed information on the competitive landscape in the country.

The report brings together Timetric’s research, modeling and analysis expertise, giving insurers access to information on segment dynamics and competitive advantages, and profiles of insurers operating in the country. The report also includes details of insurance regulations, and recent changes in the regulatory structure.

Summary

Timetric’s 'Life Insurance in Hungary, Key Trends and Opportunities to 2020' report provides in-depth market analysis, information and insights into the Hungarian life insurance segment, including:

  • An overview of the Hungarian life insurance segment
  • The Hungarian life insurance segment’s growth prospects by category
  • A comprehensive overview of the Hungarian economy and demographics
  • A comparison of the Hungarian life insurance segment with its regional counterparts
  • The various distribution channels in the Hungarian life insurance segment
  • Details of the competitive landscape in the Hungarian life insurance segment
  • Details of regulatory policy applicable to the Hungarian insurance industry
Scope

This report provides a comprehensive analysis of the life insurance segment in Hungary:
  • It provides historical values for the Hungarian life insurance segment for the report’s 2011–2015 review period, and projected figures for the 2015–2020 forecast period.
  • It offers a detailed analysis of the key categories in the Hungarian life insurance segment, and market forecasts to 2020.
  • It provides a comparison of the Hungarian life insurance segment with its regional counterparts
  • It analyzes the various distribution channels for life insurance products in Hungary.
  • It profiles the top life insurance companies in Hungary and outlines the key regulations affecting them.
Reasons To Buy
  • Make strategic business decisions using in-depth historic and forecast market data related to the Hungarian life insurance segment, and each category within it.
  • Understand the demand-side dynamics, key market trends and growth opportunities in the Hungarian life insurance segment.
  • Assess the competitive dynamics in the life insurance segment.
  • Identify growth opportunities and market dynamics in key product categories.
  • Gain insights into key regulations governing the Hungarian insurance industry, and their impact on companies and the industry's future.
Key Highlights
  • The Hungarian life insurance segment registered a review-period CAGR of -0.1%.
  • Hungary’s life segment accounted for 51.0% of the industry’s gross written premium in 2015.
  • Life insurance categories such as individual whole life and term life insurance recorded positive growth, at a review-period CAGRs of 3.9% and 4.8%, respectively.
  • The Insurance Companies and Insurance Activities Act was introduced in December 2014, and came into force on January 1, 2016.
  • The Hungarian life segment is highly concentrated, with the 10 leading insurers accounting for 85.8% of the segment’s gross written premium in 2015.


  • Key Facts and Highlights
    • Table Hungarian Life Insurance - Key Facts, 2015
    • Table Hungarian Life Insurance - Segment Shares (%) of the Top Insurers, 2015
  • Executive Summary
  • Economy and Demographics
    • Table Hungarian Government Credit Ratings
  • Segment Outlook
    • Regional Comparison
    • Segment Indicators
      • Gross written premium and penetration
        • Table Hungarian Life Insurance - Gross Written Premium (HUF Billion and US$ Billion), 2011-2015
        • Table Hungarian Life Insurance - Penetration (%), 2011-2015
        • Table Hungarian Life Insurance - Gross Written Premium (HUF Billion and US$ Billion), 2015-2020
        • Table Hungarian Life Insurance - Penetration (%), 2015-2020
        • Table Hungarian Life Insurance - New Business Direct Written Premium (HUF Billion and US$ Million), 2011-2015
        • Table Hungarian Life Insurance - New Business Direct Written Premium (HUF Billion and US$ Million), 2015-2020
        • Table Hungarian Life Insurance - Premium per Capita (HUF and US$), 2011-2015
        • Table Hungarian Life Insurance - Premium per Capita (HUF and US$), 2015-2020
      • Policies sold
        • Table Hungarian Life Insurance - Number of Policies Sold (Million), 2011-2015
        • Table Hungarian Life Insurance - Number of Policies Sold (Million), 2015-2020
      • Claims
        • Table Hungarian Life Insurance - Paid Claims (HUF Billion and US$ Billion), 2011-2015
        • Table Hungarian Life Insurance - Paid Claims (HUF Billion and US$ Billion), 2015-2020
      • Assets and investments
        • Table Hungarian Life Insurance - Total Assets (HUF Trillion and US$ Billion), 2011-2015
        • Table Hungarian Life Insurance - Total Assets (HUF Trillion and US$ Billion), 2015-2020
        • Table Hungarian Life Insurance - Total Investment Income (HUF Billion and US$ Million), 2011-2015
        • Table Hungarian Life Insurance - Total Investment Income (HUF Billion and US$ Million), 2015-2020
        • Table Hungarian Life Insurance - Investment Portfolio (HUF Billion), 2011-2015
        • Table Hungarian Life Insurance - Investment Portfolio (HUF Billion), 2015-2020
  • Outlook by Category
    • Policies Sold
      • Table Hungarian Individual Life Insurance - Number of Policies Sold by Category (Thousand), 2011-2015
      • Table Hungarian Individual Life Insurance - Number of Policies Sold by Category (Million), 2015-2020
  • Distribution Channel Outlook
  • Competitive Landscape
    • Table Hungarian Insurance Industry - Shares of the Leading Insurers (%), 2015
    • Company Profiles
      • NN Biztosító Zrt - company overview
        • Table NN Biztosító Zrt - Key Facts
        • Table NN Biztosító Zrt - Key Financials (HUF Billion), 2011-2015
      • Magyar Posta Életbiztositó Zrt - company overview
        • Table Magyar Posta Életbiztositó Zrt - Key Facts
        • Table Magyar Posta Életbiztositó Zrt - Key Financials (HUF Billion), 2011-2015
      • Groupama Garancia Biztosító Zrt - company overview
        • Table Groupama Garancia Biztosító Zrt - Key Facts
        • Table Groupama Garancia Biztosító Zrt - Key Financials (HUF Billion), 2011-2015
      • Generali Providencia Biztosító Zrt - company overview
        • Table Generali Providencia Biztosító Zrt - Key Facts
        • Table Generali Providencia Biztosító Zrt - Key Financials (HUF Billion), 2011-2015
      • Aegon Magyarország Általános Biztosító Zrt - company overview
        • Table Aegon Magyarország Általános Biztosító Zrt - Key Facts
        • Table Aegon Magyarország Általános Biztosító Zrt - Key Financials (HUF Billion), 2011-2015
  • Governance, Risk and Compliance
    • Table Hungary - Insurance Regulatory Framework Key Features
    • Legislation Overview and Historical Evolution
    • Latest Changes in Regulation
    • Legislation and Market Practice by Type of Insurance
      • Life insurance
        • Table Hungary - Life Insurance Regulatory Framework
      • Property insurance
        • Table Hungary - Property Insurance Regulatory Framework
      • Motor insurance
        • Table Hungary - Motor Insurance Regulatory Framework
        • Table Hungary - Bonus-Malus System for Passenger Cars and Motorcycles
        • Table Hungary - Bonus-Malus System for Trucks, Buses, Tractors and Other Commercial Vehicles
      • Liability insurance
        • Table Hungary - Liability Insurance Regulatory Framework
      • Marine, aviation and transit insurance
      • Personal accident and health insurance
    • Compulsory Insurance
      • Motor third-party liability insurance
      • Air carriers and aircraft operators' liability insurance
        • Table Hungary - Minimum Coverage for Aircraft Third-Party Liability per Accident and Aircraft
      • Workers' compensation insurance
      • Marine liability insurance
      • Professional indemnity insurance for alternative investment fund managers
      • Professional indemnity insurance for insurance brokers
      • Liability for ships with respect to oil pollution
    • Supervision and Control
      • International Association of Insurance Supervisors
      • European Insurance and Occupational Pensions Authority
      • Magyar Nemzeti Bank
    • Non-Admitted Insurance Regulation
      • Overview
      • Intermediaries
      • Market practices
      • Fines and Penalties
    • Company Registration and Operations
      • Type of insurance organization
      • Establishing a local company
      • Foreign ownership
      • Types of license
      • Capital requirements
      • Solvency margin
      • Reserve requirements
      • Investment regulations
      • Statutory return requirements
      • Fee structure
    • Taxation
      • Insurance premium or policy taxation
        • Table Hungary - Insurance Premium Taxation
      • Withholding taxes on premium paid overseas
      • Corporate tax
        • Table Hungary - Corporate Tax Rates for the Financial Year 2016
      • VAT
      • Captives
    • Legal System
      • Introduction
      • Access to court
      • Alternative dispute resolution (ADR)
  • Databook
    • Policies and Premium
      • Table Hungarian Life Insurance - Policies and Premium, 2011-2015
      • Table Hungarian Life Insurance - Policies and Premium, 2015-2020
    • Claims and Expenses
      • Table Hungarian Life Insurance - Claims and Expenses, 2011-2015
      • Table Hungarian Life Insurance - Claims and Expenses, 2015-2020
    • Assets and Investments
      • Table Hungarian Life Insurance - Assets and Investments, 2011-2015
      • Table Hungarian Life Insurance - Assets and Investments, 2015-2020
    • Individual Life Insurance
      • Table Hungarian Life Insurance - Individual Life Insurance, 2011-2015
      • Table Hungarian Life Insurance - Individual Life Insurance, 2015-2020
    • Individual Life Insurance by Product
      • Table Hungarian Life Insurance - Individual Life Insurance by Product, 2011-2015
      • Table Hungarian Life Insurance - Individual Life Insurance by Product, 2015-2020
    • Individual Life - Single vs. Non-Single Premium
      • Table Hungarian Life Insurance - Individual Life Insurance by Premium, 2011-2015
      • Table Hungarian Life Insurance - Individual Life Insurance by Premium, 2015-2020
    • Linked vs. Non-Linked Policies
      • Table Hungarian Life Insurance - Linked vs. Non-Linked Policies, 2011-2015
      • Table Hungarian Life Insurance - Linked vs. Non-Linked Policies, 2015-2020
  • Definitions and Methodology
    • Definitions
      • Table Insurance Industry Definitions
    • Methodology
  • About Timetric
    • Contact Timetric
    • About Timetric
    • Timetric's Services
    • Disclaimer

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