New Study: Hungary Insurance Report Q2 2016

From: Fast Market Research, Inc.
Published: Tue Feb 16 2016


The outlook for Hungary's insurance market is highly positive. Rising levels of household income and solid demographic trends are boosting demand for various life products , leading to gains in penetration and density rates over the five year forecast period. Strong demand for some of the smaller non-life lines, such as health and personal accident insurance, will also support growth in the non-life sector.

Key Updates A nd Forecasts

Life insurance is expected to prove the main source of growth in Hungary's insurance market over the forecast 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 a healthy rate of 8.1% annually over the forecast period. While density (premiums per capita) will rise, the rate of penetration (premiums against GDP) is expected to slip slightly as the non-life market is outpaced by wider economic growth.

Full Report Details at
- http://www.fastmr.com/prod/1119006_hungary_insurance_report_q2.aspx?afid=301

We are currently forecasting relatively slow growth in the motor insurance sub-sector. Although one of the largest non-life lines, motor insurance is highly competitive, which has placed downwards pressure on pricing. Hungary's motor insurers are reportedly now considering more robust premium increases in light of high loss ratios, particularly in terms of commercial vehicle coverage.

The Hungary Insurance Report has been researched at source and features BMI Research's independent assessment and forecasts for the insurance sector. It examines industry developments, key growth drivers and risk management projections, including the macroeconomic situation, government policy, regulatory environment and the level of development and potential for growth, broken down by line. Leading insurers are profiled, covering premiums, products and services and competitive positioning.

BMI's Hungary Insurance Report provides professionals, consultancies, government departments, regulatory bodies and researchers with independent forecasts and regional competitive intelligence on the Hungarian insurance industry.

Key Benefits
Benchmark BMI's independent insurance industry forecasts for Hungary to test other views - a key input for successful budgeting and strategic business planning in Hungary's insurance market.
Target business opportunities and risks in Hungary through our reviews of latest industry trends, regulatory changes and major deals, investments and macroeconomic developments.
Exploit latest competitive intelligence on your competitors, partners and clients via our Company Profiles (inc. SWOTs, KPIs and latest activity).

Coverage

BMI Industry View

About Fast Market Research

Fast Market Research is a leading distributor of market research and business information. Representing the world's top research publishers and analysts, we provide quick and easy access to the best competitive intelligence available. Our unbiased, expert staff is always available to help you find the right research to fit your requirements and your budget.

For more information about these or related research reports, please visit our website at http://www.fastmr.com or call us at 1.800.844.8156 (1.413.485.7001 Int'l)

You may also be interested in these related reports:

- Singapore Insurance Report Q2 2016
- Iran Insurance Report Q2 2016
- Australia Insurance Report Q2 2016
- Turkey Insurance Report Q2 2016
- Czech Republic Insurance Report Q2 2016

Company: Fast Market Research, Inc.
Contact Name: Bill Thompson
Contact Email: press@fastmr.com
Contact Phone: 1-413-485-7001

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