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Non-Life Insurance in Hungary, Key Trends and Opportunities to 2020

Non-Life Insurance in Hungary, Key Trends and Opportunities to 2020

Synopsis

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

It provides values for key performance indicators such as written premium, incurred loss, loss ratio, commissions and expenses, combined ratio, 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, explains the various types of natural hazards and their impact on the Hungarian insurance industry, 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 'Non-Life Insurance in Hungary, Key Trends and Opportunities to 2020' report provides in-depth market analysis, information and insights into the Hungarian non-life insurance segment, including:

  • The Hungarian non-life segment’s detailed outlook by product category
  • A comprehensive overview of the Hungarian economy and demographics
  • A comparison of the Hungarian non-life insurance segment with its regional counterparts
  • The various distribution channels in the Hungarian non-life insurance segment
  • Detailed analysis of natural hazards and their impact on the Hungarian insurance industry
  • Details of the competitive landscape in the Hungarian non-life insurance segment
  • Details of regulatory policy applicable to the Hungarian insurance industry
Scope

This report provides a comprehensive analysis of the non-life insurance segment in Hungary:
  • It provides historical values for the Hungarian non-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 non-life insurance segment, and market forecasts to 2020.
  • It provides a comparison of the Hungarian non-life insurance segment with its regional counterparts
  • It analyzes the various distribution channels for non-life insurance products in Hungary.
  • It analyzes various natural hazards and their impact on the Hungarian insurance industry
  • It profiles the top non-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 non-life insurance segment, and each category within it.
  • Understand the demand-side dynamics, key market trends and growth opportunities in the Hungarian non-life insurance segment.
  • Assess the competitive dynamics in the non-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 non-life segment accounted for 44.1% of the insurance industry’s overall gross written premium in 2015.
  • The Hungarian non-life insurance segment expanded during the review period at a review-period CAGR of 2.1%.
  • The Insurance Companies and Insurance Activities Act was introduced in December 2014, and came into force on January 1, 2016.
  • Property insurance was the largest category, accounting for 46.9% of the segment’s gross written premium.
  • Agencies are a highly preferred channel as a result of their detailed understanding of risks and products related to their field and region.
  • The Hungarian non-life insurance segment is highly concentrated, with the 10 leading companies accounting for 91.8% of its gross written premium in 2015.


  • Key Facts and Highlights
    • Table Hungarian Non-Life Insurance - Key Facts, 2015
    • Table Hungarian Non-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 Non-Life Insurance - Gross Written Premium (HUF Billion and US$ Billion), 2011-2015
        • Table Hungarian Non-Life Insurance - Penetration (%), 2011-2015
        • Table Hungarian Non-Life Insurance - Gross Written Premium (HUF Billion and US$ Billion), 2015-2020
        • Table Hungarian Non-Life Insurance - Penetration (%), 2015-2020
        • Table Hungarian Non-Life Insurance - Premium per Capita (HUF and US$), 2011-2015
        • Table Hungarian Non-Life Insurance - Premium per Capita (HUF and US$), 2015-2020
      • Policies sold
        • Table Hungarian Non-Life Insurance - Number of Policies Sold (Thousand), 2011-2015
        • Table Hungarian Non-Life Insurance - Number of Policies Sold (Thousand), 2015-2020
      • Claims
        • Table Hungarian Non-Life Insurance - Paid Claims (HUF Billion and US$ Million), 2011-2015
        • Table Hungarian Non-Life Insurance - Paid Claims (HUF Billion and US$ Million), 2015-2020
      • Profitability
        • Table Hungarian Non-Life Insurance - Profitability Ratio (%), 2011-2015
        • Table Hungarian Non-Life Insurance - Profitability Ratio (%), 2015-2020
      • Assets and investments
        • Table Hungarian Non-Life Insurance - Total Assets (HUF Billion and US$ Billion), 2011-2015
        • Table Hungarian Non-Life Insurance - Total Assets (HUF Billion and US$ Billion), 2015-2020
        • Table Hungarian Non-Life Insurance - Total Investment Income (HUF Billion and US$ Million), 2011-2015
        • Table Hungarian Non-Life Insurance - Total Investment Income (HUF Billion and US$ Million), 2015-2020
        • Table Hungarian Non-Life Insurance - Investment Portfolio (HUF Billion), 2011-2015
        • Table Hungarian Non-Life Insurance - Investment Portfolio (HUF Billion), 2015-2020
  • Outlook by Category
    • Table Hungarian Non-Life Insurance - Gross Written Premium by Category (HUF Billion), 2011-2015
    • Table Hungarian Non-Life Insurance - Gross Written Premium by Category (HUF Billion), 2015-2020
    • Property Insurance
      • Product overview
      • Premium
        • Table Hungarian Property Insurance - Gross Written Premium by Sub-Category (HUF Billion), 2011-2015
        • Table Hungarian Property Insurance - Gross Written Premium by Sub-Category (HUF Billion), 2015-2020
      • Policies sold
        • Table Hungarian Property Insurance - Number of Policies Sold by Sub-Category (Thousand), 2011-2015
        • Table Hungarian Property Insurance - Number of Policies Sold by Sub-Category (Thousand), 2015-2020
      • Claims
        • Table Hungarian Property Insurance - Paid Claims (HUF Billion and US$ Million), 2011-2015
        • Table Hungarian Property Insurance - Paid Claims (HUF Billion and US$ Million), 2015-2020
      • Profitability
        • Table Hungarian Property Insurance - Loss Ratio (%), 2011-2015
        • Table Hungarian Property Insurance - Loss Ratio (%), 2015-2020
    • Motor Insurance
      • Product overview
      • Premium
        • Table Hungarian Motor Insurance - Gross Written Premium by Sub-Category (HUF Billion), 2011-2015
        • Table Hungarian Motor Insurance - Gross Written Premium by Sub-Category (HUF Billion), 2015-2020
      • Policies sold
        • Table Hungarian Motor Insurance - Number of Policies Sold by Sub-Category (Thousand), 2011-2015
        • Table Hungarian Motor Insurance - Number of Policies Sold by Sub-Category (Thousand), 2015-2020
      • Claims
        • Table Hungarian Motor Insurance - Paid Claims (HUF Billion and US$ Million), 2011-2015
        • Table Hungarian Motor Insurance - Paid Claims (HUF Billion and US$ Million), 2015-2020
      • Profitability
        • Table Hungarian Motor Insurance - Loss Ratio (%), 2011-2015
        • Table Hungarian Motor Insurance - Loss Ratio (%), 2015-2020
    • Liability Insurance
      • Product overview
      • Premium
        • Table Hungarian Liability Insurance - Gross Written Premium by Sub-Category (HUF Billion), 2011-2015
        • Table Hungarian Liability Insurance - Gross Written Premium by Sub-Category (HUF Billion), 2015-2020
      • Policies sold
        • Table Hungarian Liability Insurance - Number of Policies Sold (Million), 2011-2015
        • Table Hungarian Liability Insurance - Number of Policies Sold (Million), 2015-2020
      • Claims
        • Table Hungarian Liability Insurance - Paid Claims (HUF Billion and US$ Million), 2011-2015
        • Table Hungarian Liability Insurance - Paid Claims (HUF Billion and US$ Million), 2015-2020
      • Profitability
        • Table Hungarian Liability Insurance - Loss Ratio (%), 2011-2015
        • Table Hungarian Liability Insurance - Loss Ratio (%), 2015-2020
    • Marine, Aviation and Transit Insurance
      • Product overview
        • Table Hungarian Transport Network - Global Rankings
      • Premium
        • Table Hungarian Marine, Aviation and Transit Insurance - Gross Written Premium by Sub-Category (HUF Billion), 2011-2015
        • Table Hungarian Marine, Aviation and Transit Insurance - Gross Written Premium by Sub-Category (HUF Billion), 2015-2020
      • Policies sold
        • Table Hungarian Marine, Aviation and Transit Insurance - Number of Policies Sold (Thousand), 2011-2015
        • Table Hungarian Marine, Aviation and Transit Insurance - Number of Policies Sold (Thousand), 2015-2020
      • Claims
        • Table Hungarian Marine, Aviation and Transit Insurance - Paid Claims (HUF Million and US$ Million), 2011-2015
        • Table Hungarian Marine, Aviation and Transit Insurance - Paid Claims (HUF Million and US$ Million), 2015-2020
      • Profitability
        • Table Hungarian Marine, Aviation and Transit Insurance - Loss Ratio (%), 2011-2015
        • Table Hungarian Marine, Aviation and Transit Insurance - Loss Ratio (%), 2015-2020
  • Distribution Channel Outlook
  • Natural and Man-Made Hazards
    • Table Hungarian Average Annual Loss by Hazard
    • Flooding
    • Drought
    • Earthquakes
    • Exposure
  • Competitive Landscape
    • Table Hungarian Insurance Industry - Market Shares of Leading Insurers (%), 2015
    • Company Profiles
      • Allianz Hungaria Biztosító Zrt - company overview
        • Table Allianz Hungaria Biztosító Zrt - Key Facts
        • Table Allianz Hungaria 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 Altalanos Biztosító Zrt - company overview
        • Table Aegon Magyarország Altalanos Biztosító Zrt - Key Facts
        • Table Aegon Magyarország Altalanos Biztosító 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
      • Uniqa Biztosító Zrt - company overview
        • Table Uniqa Biztosító Zrt - Key Facts
        • Table Uniqa 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 Insurance Industry - Policies and Premium, 2011-2015
      • Table Hungarian Insurance Industry - Policies and Premium, 2015-2020
    • Claims and Expenses
      • Table Hungarian Non-Life Insurance - Claims and Expenses, 2011-2015
      • Table Hungarian Non-Life Insurance - Claims and Expenses, 2015-2020
    • Assets and Investments
      • Table Hungarian Non-Life Insurance - Assets and Investments, 2011-2015
      • Table Hungarian Non-Life Insurance - Assets and Investments, 2015-2020
    • Property Insurance
      • Table Hungarian Non-Life Insurance - Property Insurance, 2011-2015
      • Table Hungarian Non-Life Insurance - Property Insurance, 2015-2020
    • Property Insurance by Product
      • Table Hungarian Non-Life Insurance - Property Insurance by Product, 2011-2015
      • Table Hungarian Non-Life Insurance - Property Insurance by Product, 2015-2020
    • Motor Insurance
      • Table Hungarian Non-Life Insurance - Motor Insurance, 2011-2015
      • Table Hungarian Non-Life Insurance - Motor Insurance, 2015-2020
    • Motor Insurance by Product
      • Table Hungarian Non-Life Insurance - Motor Insurance by Product, 2011-2015
      • Table Hungarian Non-Life Insurance - Motor Insurance by Product, 2015-2020
    • Liability Insurance
      • Table Hungarian Non-Life Insurance - Liability Insurance, 2011-2015
      • Table Hungarian Non-Life Insurance - Liability Insurance, 2015-2020
    • Marine, Aviation and Transit Insurance
      • Table Hungarian Non-Life Insurance - Marine, Aviation and Transit Insurance, 2011-2015
      • Table Hungarian Non-Life Insurance - Marine, Aviation and Transit Insurance, 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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