Non-Life Insurance in Hungary, Key Trends and Opportunities to 2019

Non-Life Insurance in Hungary, Key Trends and Opportunities to 2019

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Published on Oct 22, 2015 - 135 pages

Timetric's 'Non-Life Insurance in the Hungary, Key Trends and Opportunities to 2019' report provides in-depth market analysis, information and insights into the Hungarian non-life insurance segment, including:
  • The Hungarian non-life insurance segment's detailed outlook by product category
  • A comprehensive overview of Hungary's economy and demographics
  • A comparison of the Hungarian insurance industry with regional counterparts
  • Detailed analysis of natural hazards and their impact on the Hungarian insurance industry
  • Analysis of various distribution channels in Hungary.
  • Details of the competitive landscape in the non-life insurance segment in Hungary
  • Details of regulatory policy applicable to the Hungarian insurance industry
Report Highlights
  • The non-life segment accounted for 41.5% of the industry's gross written premium in 2014.
  • Property insurance was the largest category in the segment in terms of gross written premium during the review period.
  • The non-life segment declined at a review-period CAGR of 1.9%.
  • According to the International Monetary Fund, exports of goods and services as a percentage of GDP grew from 82.6% in 2009 to 88.8% in 2013.
  • The non-life segment is highly concentrated, with the 10 leading companies accounting for a combined share of 92.0% of the segment's total written premiums in 2013.
Report 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 2010-2014 review period, and projected figures for the 2014-2019 forecast period.
  • It offers a detailed analysis of the key categories in the Hungarian non-life insurance segment, and market forecasts to 2019.
  • It profiles the top non-life insurance companies in Hungary, and outlines the key regulations affecting them.
Reasons to Get this Report
  • 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.

Table of Contents

1 Key Facts and Highlights
2 Executive Summary
3 Economy and Demographics
4 Segment Outlook
4.1 Regional Comparison
4.2 Segment Indicators
4.2.1 Gross written premium and penetration
4.2.2 Policies sold
4.2.3 Claims
4.2.4 Profitability
4.2.5 Assets and investments
5 Outlook by Category
5.1 Property Insurance
5.1.1 Product overview
5.1.2 Premium
5.1.3 Policies
5.1.4 Claims
5.1.5 Profitability
5.2 Motor Insurance
5.2.1 Product overview
5.2.2 Premium
5.2.3 Policies
5.2.4 Claims
5.2.5 Profitability
5.3 Liability Insurance
5.3.1 Product overview
5.3.2 Premium
5.3.3 Policies
5.3.4 Claims
5.3.5 Profitability
5.4 Marine, Aviation and Transit Insurance
5.4.1 Product overview
5.4.2 Premium
5.4.3 Policies
5.4.4 Claims
5.4.5 Profitability
6 Distribution Channel Outlook
7 Natural Hazards
7.1 Flood
7.2 Drought
7.3 Earthquake
7.4 Exposure
8 Competitive Landscape
8.1 Overview
8.2 Leading Companies in the Hungarian Non-life segment
8.2.1 Allianz Hungaria Biztosito Zrt - company overview
8.2.2 Generali Providencia Biztosito Zrt - company overview
8.2.3 Aegon Magyarorszag Altalanos Biztosito Zrt - company overview
8.2.4 Groupama Garancia Biztosito Zrt - company overview
8.2.5 Uniqa Biztosito Zrt - company overview
8.2.6 Union Vienna Insurance Group Biztosito Zrt - company overview
8.2.7 K&H Biztosito Zrt - company overview
8.2.8 Waberer Hungaria Biztosito Zrt - company overview
8.2.9 Magyar Posta Eletbiztosito Zrt - company overview
8.2.10 Kobe Kozep-europai Kolcsonos Biztosito Egyesulet - company overview
9 Governance, Risk and Compliance
9.1 Legislation Overview and Historical Evolution
9.2 Latest Changes in Regulations
9.3 Legislation and Market Practice by Type of Insurance
9.3.1 Life insurance
9.3.2 Property insurance
9.3.3 Motor insurance
9.3.4 Liability insurance
9.3.5 Marine, aviation and transit insurance
9.3.6 Personal accident and health insurance
9.4 Compulsory Insurance
9.4.1 Motor third-party liability insurance
9.4.2 Air carriers and aircraft operators insurance
9.4.3 Workers' compensation insurance
9.4.4 Marine liability insurance
9.4.5 Professional indemnity insurance for alternative investment fund managers
9.5 Supervision and Control
9.5.1 International Association of Insurance Supervisors (IAIS)
9.5.2 European Insurance and Occupational Pension Authority (EIOPA)
9.5.3 Magyar Nemzeti Bank (MNB)
9.6 Non-Admitted Insurance Regulations
9.6.1 Overview
9.6.2 Intermediaries
9.6.3 Market practices
9.6.4 Fines and penalties
9.7 Company Registration and Operations
9.7.1 Types of insurance organization
9.7.2 Establishing a local company
9.7.3 Foreign ownership
9.7.4 Types of license
9.7.5 Capital requirements
9.7.6 Solvency margins
9.7.7 Reserve requirements
9.7.8 Investment regulations
9.7.9 Statutory return requirements
9.7.10 Fee structure
9.8 Taxation
9.8.1 Insurance premium or policy taxation
9.8.2 Withholding tax on insurance premium paid overseas
9.8.3 Corporate tax
9.8.4 VAT
9.8.5 Captives
9.9 Legal System
9.9.1 Introduction
9.9.2 Access to court
9.9.3 Alternative dispute resolution (ADR)
10 Databook
10.1 Policies and Premium
11 Definitions and Methodology
11.1 Definitions
11.2 Methodology
12 About Timetric
12.1 Contact Timetric
12.2 About Timetric
12.3 Timetric's Services
12.4 Disclaimer

List of Tables

Table 1: Hungarian Non-Life Insurance - Key Facts
Table 2: Hungarian Non-Life Insurance - Segment Share of the Top Insurers, 2014
Table 3: Hungarian Government Credit Ratings
Table 4: Hungarian Non-Life Insurance - Gross Written Premium (HUF Billion and US$ Billion), 2010-2014
Table 5: Hungarian Non-Life Insurance - Penetration (%), 2010-2014

Companies Mentioned:

Allianz Hungaria Biztosito Zrt
Generali-Providencia Biztosito Zrt
Aegon Magyarorszag altalanos Biztosito Zrt
Groupama Garancia Biztosito Zrt
Uniqa Biztosito Zrt
Union Vienna Insurance Group Biztosito Zrt
K&H Biztosito Zrt
Waberer Hungaria Biztosito Zrt.
Magyar Posta Biztosito Zrt
Kobe Kozep-europai Kolcsonos Biztosito Egyesulet