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Synopsis
Timetric’s 'Non-Life Insurance in the Hungary, Key Trends and Opportunities to 2019' report provides a detailed outlook by product category for the Hungarian non-life insurance segment, and a comparision of the Hungarian insurance industry with regional counterparts.

It uses key performance indicators such as written premium, incurred loss, commissions and expenses, total assets, total investment income and retentions during the review period (2010–2014) and forecast period (2014–2019).
The report also gives a comprehensive overview of Hungary's economy and demographics, explains the various types of natural hazard 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 regulatory structure.

Summary
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

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 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 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.

Table Of Contents

Non-Life Insurance in Hungary, Key Trends and Opportunities to 2019
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 Biztosító Zrt - company overview
8.2.2 Generali Providencia Biztosító Zrt - company overview
8.2.3 Aegon Magyarország Altalanos Biztosító Zrt - company overview
8.2.4 Groupama Garancia Biztosító Zrt - company overview
8.2.5 Uniqa Biztosító Zrt - company overview
8.2.6 Union Vienna Insurance Group Biztosító Zrt - company overview
8.2.7 KandH Biztosító Zrt - company overview
8.2.8 Waberer Hungaria Biztosító Zrt - company overview
8.2.9 Magyar Posta Életbiztosító Zrt - company overview
8.2.10 Köbe Közep-európai Kölcsönös Biztosító Egyesület - 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
Table 6: Hungarian Non-Life Insurance - Gross Written Premium (HUF Billion and US$ Billion), 2014-2019
Table 7: Hungarian Non-Life Insurance - Penetration (%), 2014-2019
Table 8: Hungarian Non-Life Insurance - Premium per Capita (HUF and US$), 2010-2014
Table 9: Hungarian Non-Life Insurance - Premium per Capita (HUF and US$), 2014-2019
Table 10: Hungarian Non-Life Insurance - Number of Policies Sold (Thousand), 2010-2014
Table 11: Hungarian Non-Life Insurance - Number of Policies Sold (Thousand), 2014-2019
Table 12: Hungarian Non-Life Insurance - Paid Claims (HUF Billion and US$ Billion), 2010-2014
Table 13: Hungarian Non-Life Insurance - Paid Claims (HUF Billion and US$ Billion), 2014-2019
Table 14: Hungarian Non-Life Insurance - Profitability Ratio (%), 2010-2014
Table 15: Hungarian Non-Life Insurance - Profitability Ratio (%), 2014-2019
Table 16: Hungarian Non-Life Insurance - Total Assets (HUF Billion and US$ Billion), 2010-2014
Table 17: Hungarian Non-Life Insurance - Total Assets (HUF Billion and US$ Billion), 2014-2019
Table 18: Hungarian Non-Life Insurance - Total Investment Income (HUF Billion and US$ Billion), 2010-2014
Table 19: Hungarian Non-Life Insurance - Total Investment Income (HUF Billion and US$ Billion), 2014-2019
Table 20: Hungarian Non-Life Insurance - Investment Portfolio (HUF Billion), 2010-2014
Table 21: Hungarian Non-Life Insurance - Investment Portfolio (HUF Billion), 2014-2019
Table 22: Hungarian Non-Life Insurance - Gross Written Premium by Category (HUF Billion), 2010-2014
Table 23: Hungarian Non-Life Insurance - Gross Written Premium by Category (HUF Billion), 2014-2019
Table 24: Hungarian Property Insurance - Gross Written Premium by Sub-Category (HUF Billion), 2010-2014
Table 25: Hungarian Property Insurance - Gross Written Premium by Sub-Category (HUF Billion), 2014-2019
Table 26: Hungarian Property Insurance - Number of Policies Sold by Sub-Category (Thousand), 2010-2014
Table 27: Hungarian Property Insurance - Number of Policies Sold by Sub-Category (Thousand), 2014-2019
Table 28: Hungarian Property Insurance - Paid Claims (HUF Billion and US$ Billion), 2010-2014
Table 29: Hungarian Property Insurance - Paid Claims (HUF Billion and US$ Billion), 2014-2019
Table 30: Hungarian Property Insurance - Loss Ratio (%), 2010-2014
Table 31: Hungarian Property Insurance - Loss Ratio (%), 2014-2019
Table 32: Hungarian Motor Insurance - Gross Written Premium by Sub-Category (HUF Billion), 2010-2014
Table 33: Hungarian Motor Insurance - Gross Written Premium by Sub-Category (HUF Billion), 2014-2019
Table 34: Hungarian Motor Insurance - Number of Policies Sold by Sub-Category (Thousand), 2010-2014
Table 35: Hungarian Motor Insurance - Number of Policies Sold by Sub-Category (Thousand), 2014-2019
Table 36: Hungarian Motor Insurance - Paid Claims (HUF Billion and US$ Billion), 2010-2014
Table 37: Hungarian Motor Insurance - Paid Claims (HUF Billion and US$ Billion), 2014-2019
Table 38: Hungarian Motor Insurance - Loss Ratio, 2010-2014
Table 39: Hungarian Motor Insurance - Loss Ratio, 2014-2019
Table 40: Hungarian Liability Insurance - Gross Written Premium (HUF Billion), 2010-2014
Table 41: Hungarian Liability Insurance - Gross Written Premium (HUF Billion), 2014-2019
Table 42: Hungarian Liability Insurance - Number of Policies Sold (Thousand), 2010-2014
Table 43: Hungarian Liability Insurance - Number of Policies Sold (Thousand), 2014-2019
Table 44: Hungarian Liability Insurance - Paid Claims (HUF Billion and US$ Billion), 2010-2014
Table 45: Hungarian Liability Insurance - Paid Claims (HUF Billion and US$ Billion), 2014-2019
Table 46: Hungarian Liability Insurance - Loss Ratio (%), 2010-2014
Table 47: Hungarian Liability Insurance - Loss Ratio (%), 2014-2019
Table 48: Hungarian Marine, Aviation and Transit Insurance - Gross Written Premium by Sub-Category (HUF Billion), 2010-2014
Table 49: Hungarian Marine, Aviation and Transit Insurance - Gross Written Premium by Sub-Category (HUF Billion), 2014-2019
Table 50: Hungarian Marine, Aviation and Transit Insurance - Number of Policies Sold by Sub-Category (Thousand), 2010-2014
Table 51: Hungarian Marine, Aviation and Transit Insurance - Number of Policies Sold by Sub-Category (Thousand), 2014-2019
Table 52: Hungarian Marine, Aviation and Transit Insurance - Paid Claims (HUF Billion and US$ Billion), 2010-2014
Table 53: Hungarian Marine, Aviation and Transit Insurance - Paid Claims (HUF Billion and US$ Billion), 2014-2019
Table 54: Hungarian Marine, Aviation and Transit Insurance - Loss Ratio (%), 2010-2014
Table 55: Hungarian Marine, Aviation and Transit Insurance - Loss Ratio (%), 2014-2019
Table 56: Hungarian Average Annual Loss by Hazard
Table 57: Hungarian Non-Life Insurance - Segment Shares (%), 2013
Table 58: Allianz Hungaria Biztosito Zrt - Key Facts
Table 59: Allianz Hungaria Biztosito Zrt, Key Financials (HUF Million), 2009-2013
Table 60: Generali Providencia Biztosito Zrt - Key Facts
Table 61: Generali Providencia Biztosito Zrt, Key Financials (HUF Million), 2009-2013
Table 62: Aegon Magyarorszag Altalanos Biztosito Zrt - Key Facts
Table 63: Aegon Magyarorszag Altalanos Biztosito Zrt, Key Financials (HUF Million), 2009-2013
Table 64: Groupama Garancia Biztosito Zrt - Key Facts
Table 65: Groupama Garancia Biztosito Zrt, Key Financials (HUF Million), 2009-2013
Table 66: Uniqa Biztosito Zrt - Key Facts
Table 67: Uniqa Biztosito Zrt, Key Financials (HUF Million), 2009-2013
Table 68: Union Vienna insurance Group Biztosito Zrt - Key Facts
Table 69: Union Vienna insurance Group Biztosito Zrt, Key Financials (HUF Million), 2009-2013
Table 70: KandH Biztosito Zrt - Key Facts
Table 71: KandH Biztosito Zrt, Key Financials (HUF Million), 2009-2013
Table 72: Waberer Hungaria Biztosito Zrt - Key Facts
Table 73: Magyar Posta Eletbiztosito Zrt - Key Facts
Table 74: Magyar Posta Eletbiztosito Zrt, Key Financials (HUF Million), 2009-2013
Table 75: Kobe Kozep-europai Kolcsonos Biztosito Egyesulet - Key Facts
Table 76: Kobe Kozep-europai Kolcsonos Biztosito Egyesulet, Key Financials (HUF Million), 2009-2013
Table 77: Hungary - Insurance Regulatory Framework Key Features
Table 78: Hungary - Life Insurance Regulatory Framework
Table 79: Hungary - Property Insurance Regulatory Framework
Table 80: Hungary - Motor Insurance Regulatory Framework
Table 81: Hungary - Liability Insurance Regulatory Framework
Table 82: Hungary - Minimum Coverage for Aircraft Third-Party Liability per Accident and Aircraft
Table 83: Hungary - Insurance Premium Taxation
Table 84: Hungary - Corporate Tax Rates for the Financial Year 2015
Table 85: Hungarian Insurance Industry, Policies and Premium, 2010-2014
Table 86: Hungarian Insurance Industry, Policies and Premium, 2014-2019
Table 87: Hungarian Non-Life Insurance - Policies and Premium, 2010-2014
Table 88: Hungarian Non-Life Insurance - Policies and Premium, 2014-2019
Table 89: Hungarian Non-Life Insurance - Policies and Premium by Property Insurance, 2010-2014
Table 90: Hungarian Non-Life Insurance - Policies and Premium by Property Insurance, 2014-2019
Table 91: Hungarian Non-Life Insurance - Policies and Premium by Motor Insurance, 2010-2014
Table 92: Hungarian Non-Life Insurance - Policies and Premium by Motor Insurance, 2014-2019
Table 93: Hungarian Non-Life Insurance - Policies and Premium by Liability Insurance, 2010-2014
Table 94: Hungarian Non-Life Insurance - Policies and Premium by Liability Insurance, 2014-2019
Table 95: Hungarian Non-Life Insurance - Policies and Premium by Marine, Aviation and Transit Insurance, 2010-2014
Table 96: Hungarian Non-Life Insurance - Policies and Premium by Marine, Aviation and Transit Insurance, 2014-2019
Table 97: Hungarian Non-Life Insurance - Gross Written Premium by Sub-Category (HUF), 2010-2014
Table 98: Hungarian Non-Life Insurance - Gross Written Premium by Sub-Category (HUF), 2014-2019
Table 99: Hungarian Non-Life Insurance - Direct Written Premium by Sub-Category (HUF), 2010-2014
Table 100: Hungarian Non-Life Insurance - Direct Written Premium by Sub-Category (HUF), 2014-2019
Table 101: Hungarian Non-Life Insurance - Penetration (Ratio of Direct Premium to GDP) by Sub-Category (%), 2010-2014
Table 102: Hungarian Non-Life Insurance - Penetration (Ratio of Direct Premium to GDP) by Sub-Category (%), 2014-2019
Table 103: Hungarian Non-Life Insurance - Number of Active Policies by Sub-Category (Thousand), 2010-2014
Table 104: Hungarian Non-Life Insurance - Number of Active Policies by Sub-Category (Thousand), 2014-2019
Table 105: Insurance Industry Definitions


List of Figures
Figure 1: Hungarian Real GDP (HUF Trillion), 2010-2019
Figure 2: HUF/US$ Exchange Rate, 2010-2019
Figure 3: Hungarian Consumer Price Inflation (%), 2010-2019
Figure 4: Hungarian Current Account Balance, 2010-2019
Figure 5: Hungarian Unemployment Rate (%), 2010-2019
Figure 6: Hungarian Population by Age Group, 1991-2025
Figure 7: Hungarian Non-Life Insurance Penetration - Regional Comparison, 2014
Figure 8: Hungarian Insurance - Regional Direct Written Premium Segment Shares (%), 2014
Figure 9: Hungarian Non-Life Insurance - Gross Written Premium (HUF Billion), 2010-2019
Figure 10: Hungarian Non-Life Insurance - Penetration (%), 2010-2019
Figure 11: Hungarian Non-Life Insurance - Premium per Capita (HUF), 2010-2019
Figure 12: Hungarian Non-Life Insurance - Number of Policies Sold (Thousand), 2010-2019
Figure 13: Hungarian Non-Life Insurance - Paid Claims (HUF Billion), 2010-2019
Figure 14: Hungarian Non-Life Insurance - Profitability Ratio (%), 2010-2019
Figure 15: Hungarian Non-Life Insurance - Total Assets (HUF Billion), 2010-2019
Figure 16: Hungarian Non-Life Insurance - Total Investment Income (HUF Billion), 2010-2019
Figure 17: Hungarian Non-Life Insurance - Investment Portfolio (HUF Billion), 2010-2019
Figure 18: Hungarian Non-Life Insurance - Investment Portfolio Dynamics by Category, 2010-2019
Figure 19: Hungarian Non-Life Insurance - Gross Written Premium by Category (HUF Billion), 2010-2019
Figure 20: Hungarian Non-Life Insurance - Gross Written Premium Dynamics by Category, 2010-2019
Figure 21: Hungarian Property Insurance - Growth of Urban Population and New Dwellings (%), 2010-2014
Figure 22: Hungarian Property Insurance - Growth of Agriculture Output and Number of Policies (%), 2010-2014
Figure 23: Hungarian Property Insurance - Gross Written Premium by Sub-Category, 2010-2019
Figure 24: Hungarian Property Insurance - Gross Written Premium Dynamics by Sub-Category, 2010-2019
Figure 25: Hungarian Property Insurance - Number of Policies Sold by Sub-Category (Thousand), 2010-2019
Figure 26: Hungarian Property Insurance - Paid Claims (HUF Billion), 2010-2019
Figure 27: Hungarian Property Insurance - Earned Premium, Incurred Loss and Loss Ratio (HUF Billion and %), 2010-2019
Figure 28: Hungarian Motor Insurance - Road Traffic Accidents (Thousand), 2010-2014
Figure 29: Hungarian Motor Insurance - Vehicle Sales by Category, 2010-2014
Figure 30: Hungarian Motor Insurance - Gross Written Premium by Sub-Category (HUF Billion), 2010-2019
Figure 31: Hungarian Motor Insurance - Gross Written Premium Dynamics by Sub-Category, 2010-2019
Figure 32: Hungarian Motor Insurance - Number of Policies Sold by Sub-Category (Thousand), 2010-2019
Figure 33: Hungarian Motor Insurance - Paid Claims (HUF Billion), 2010-2019
Figure 34: Hungarian Motor Insurance- Earned Premium, Incurred Loss and Loss Ratio (HUF Billion and %), 2010-2019
Figure 35: Hungarian Liability Insurance - Gross Written Premium (HUF Billion), 2010-2019
Figure 36: Hungarian Liability Insurance - Number of Policies Sold (Thousand), 2010-2019
Figure 37: Hungarian Liability Insurance - Paid Claims (HUF Billion), 2010-2019
Figure 38: Hungarian Liability Insurance - Earned Premium, Incurred Loss and Loss Ratio (HUF Billion and %), 2010-2019
Figure 39 : Hungarian Marine, Aviation and Transit Insurance - Exports and Imports (US$ Billion), 2010-2014
Figure 40: Hungarian Marine, Aviation and Transit Insurance - Domestic Transport of Goods (%), 2010-2014
Figure 41: Hungarian Marine, Aviation and Transit Insurance - International Transport of Goods (%), 2010-2014
Figure 42: Hungarian Marine, Aviation and Transit Insurance - Interurban Passengers Transport (Thousand), 2011-2014
Figure 43: Hungarian Marine, Aviation and Transit Insurance - Number of Water Accidents, 2011-2014
Figure 44: Hungarian Marine, Aviation and Transit Insurance - Number of Passengers (Arrival and Departures), 2010-2014
Figure 45: Hungarian Marine, Aviation and Transit Insurance - Gross Written Premium (HUF Billion), 2010-2019
Figure 46: Hungarian Marine, Aviation and Transit Insurance - Number of Policies Sold by Sub-Category (Thousand), 2010-2019
Figure 47: Hungarian Marine, Aviation and Transit Insurance - Paid Claims (HUF Billion), 2010-2019
Figure 48: Hungarian Marine, Aviation and Transit Insurance - Earned Premium, Incurred Loss and Loss Ratio (HUF Billion and %), 2010-2019
Figure 49: Hungarian Frequency of Hazards by Type, 1990-2014
Figure 50: Hungarian Mortality of Hazards by Type, 1990-2014
Figure 51: Hungarian Economic Issues of Hazards by Type, 1990-2014
Figure 52: Hungarian Non-Life Insurance - Segment Shares (%), 2014
Figure 53: Hungary - The Three Pillars of Solvency II
Figure 54: Hungary - Insurance Supervision and Control at Various Levels
Figure 55: Hungary - Insurance Regulatory Frameworks for Company Registration and Operation

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