Hungary Insurance Report Q1 2016 - New Market Report

Hungary's insurance market is under-penetrated by both regional and global standards. Although total penetration has been consistent , it only accounts for only 2.7% of GDP which puts Hungary among the lowest rating countries out of the OECD member group, especially with an OECD average of 8.4% GDP. Regionally, unlike some of its counterparts in Central and Eastern Europe (CEE) , Hungary does not have a strong outlook in terms of premium growths from a large base as the country is more fragmented and facing numerous challenges. Recently the economy has enjoyed a small boost driven by private expenditure , but we don't see this impacting the segment radically due to lack of affordability and awareness , particularly among the life segment.

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In the non-life segment, soft prices will constrain premium growth in a fragmented marketplace. This is at a time that the near-stagnation of the wider European economy will continue to limit volumes growth. Despite moderate economic growth in 2015 we don't anticipate significant growth in the segment as the shrinking population, high unemployment and low life expectancy all present key challenges for insurers. There are still growth opportunities in some sub sector lines such as property insurance, whilst some lines will continue to stagnate, such as motor insurance.

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

Summary of BMI’s key industry forecasts and views, covering the Life and Non-Life segments, the evolving competitive landscape and business operational risks.

Industry SWOT Analysis

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