Hungary's insurance market up by 3.2% y/y in Jan-Sep.

By bne IntelliNews November 15, 2010
The premium income of the insurance sector increased by 3.2% y/y to HUF 622bn for the January-September period, data from the Hungarian Insurance Companies Association (MABISZ) showed. The growth mainly resulted from the 15% y/y growth of the life insurance segment to HUF 308bn, representing approximately half of the total premium income for the period. At the same time, the non-life insurance segment dropped by more than 4% y/y to HUF 314bn in the first nine months, as the mandatory vehicle insurance revenues slipped by 8.5% y/y. Allianz continued to be the market leader with a 22% market share in terms of revenues, followed by Generali (15.4%) and Groupama Garancia (10.5%).

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