Fast Market Research recommends "Non-Life Insurance in Hungary, Key Trends and Opportunities to 2017" from Timetric, now available
Boston, MA -- (SBWIRE) -- 10/29/2013 -- In terms of gross written premium, the Hungarian insurance industry is the third-largest in the Central and Eastern European (CEE) region after Poland and the Czech Republic. The country's insurance industry registered a CAGR of -1.6% during the review period (2008-2012), and was adversely affected by subdued economic conditions. The decline was mainly led by the non-life insurance segment, which registered a CAGR of -3.0%. This contraction was primarily due to a decline in new vehicle sales, increased claims due to natural disasters and changes in the regulatory environment. However, over the forecast period, the segment is expected to be led by an increase in customer awareness of property insurance which will require innovative and customized non-life insurance products.
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- In terms of gross written premium, the Hungarian insurance industry is the third-largest in the Central and Eastern European (CEE) region after Poland and the Czech Republic
- The country's insurance industry registered a CAGR of -1.6% during the review period
- The value of the Hungarian non-life insurance segment is expected to increase at a projected CAGR of 2.5% over the forecast period
- The growth is expected to be driven by the country's economic growth which, in turn, is expected to result in an increase in income levels, growth in the working population, and increased public awareness of the benefits of non-life insurance cover
- The property and motor insurance categories together account for 93.9% of the segment's gross written premium
This report provides a comprehensive analysis of the non-life insurance segment in Hungary:
- It provides historical values for Hungary's non-life insurance segment for the report's 2008-2012 review period and forecast figures for the 2012-2017 forecast period
- It offers a detailed analysis of the key sub-segments in Hungary's non-life insurance segment, along with market forecasts until 2017
- It covers an exhaustive list of parameters including written premium, incurred loss, loss ratio, commissions and expenses, combined ratio, frauds and crimes, total assets, total investment income and retentions
- It analyses the various distribution channels for non-life insurance products in Hungary
- Using Porter's industry-standard "Five Forces" analysis, it details the competitive landscape in Hungary for the non-life insurance segment
- It provides a detailed analysis of the reinsurance segment in Hungary and its growth prospects
- 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
Companies Mentioned in this Report: Allianz Hungaria Biztosito Zrt., Generali-Providencia Biztosito Zrt., Groupama Garancia Biztosito Zrt., Aegon Magyarorszag Altalanos Biztosito Zrt., Uniqa Biztosito Zrt., Union Vienna Insurance Group Biztosito Zrt., K&H Biztosito Zrt., Magyar Posta Biztosito Zrt., Kozlekedesi Biztosito Egyesulet., AIG Europe Ltd
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