The Hungarian insurance market didn't succeed to maintain the upward trend that seemed to emerge at the end of the first quarter of 2012. Thus, in the next quarters the market volume continuously decreased as compared with the correspondent periods of the previous year, although the appreciation of about 6.5% of the Hungarian currency in relation to the Euro somehow flattened the downward curve. Thus, 2012 ended with a 6.75% GWP decrease in the local currency, while the figures denominated in euro showed a quasi steady evolution (a -0.4% GWP change as compared with 2011).

Looking at the main business lines, motor insurance classes recorded the worst y-o-y performance (-10.8% in HUF, -4.7% in EUR), followed by the life insurance segment (-9.45% in HUF, -3.3% in EUR). The property insurance sector is the sole significant sector on the Hungarian market which recorded a positive evolution (3.8% in HUF, 10.9% in EUR).

On the life insurance side, the main business lines - endowment insurance and UL insurance products -, recorded a visible y-o-y reduction of the GWP volume, of 6.7% and 12.3% respectively, in national currency. The market ranking remained almost unchanged as compared with 2011, ING, ALLIANZ and GROUPAMA holding the first three positions, with an aggregated market share of over 37%.

Non-life lines showed mixed results. As already mentioned above, the motor insurance lines recorded the worst performance, with an 8.8% y-o-y GWP decrease for the Motor Hull class and a 12.4% fall in the GWP volume in the MTPL class. Yet, it is interesting to observe that while for the facultative line the decrease in GWP was fairly proportional to the reduction of the number of insurance contracts (5% less valid MOD contracts at the end of 2012 as compared with 2011), on the MTPL side the fall in premiums took place at the same time with a slight increase in the total number of policies issued (+1.1%), indicating a continuously soft market.

For the property insurance lines, it is worth mentioning that the 3.83% increase in premiums corresponds to a quasi constant number of "Fire and allied perils" policies, while the number of contracts issued for "damages to property" class decreased by over 5%.

ALLIANZ, GENERALI-PROVIDENCIA and GROUPAMA are the Top 3 non-life insurers, holding together an over 55% market share.

According to the PSZAF reports, the Hungarian insurance market ended 2012 with an aggregated net profit of EUR 62.6 million, 13% higher than in 2011. The aggregated technical result was of EUR 123.36 million (EUR 59.4 million for life insurance and EUR 63.9 million for non-life insurance).

Access www.xprimm.com and download the FY2012 Hungarian insurance market statistics.

Market portfolio (in EUR and HUF) according to Hungarian Financial Supervision Authority (PSZAF):

• Gross written premiums
• Paid claims
• Growth rates
  

Market rankings (GWP/ Market shares/Growth rates - in EUR and HUF) according to Association of Hungarian Insurance Companies (MABISZ):

• Overall market ranking
• Overall life insurance ranking
• Non-life insurance ranking
• Compulsory MTPL