Boston, MA -- (SBWIRE) -- 07/11/2014 -- 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 compound annual growth rate (CAGR) of -0.7% during the review period (2009-2013), and was adversely affected by subdued economic conditions. The decline was mainly led by the non-life insurance segment, which registered a CAGR of -3.6% . This contraction was primarily due to a decline in new vehicle sales, increased claims due to natural disasters, and changes in the regulatory environment. Over the forecast period (2013-2018), 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.

Report Highlights

- Property insurance is the largest category in the non-life segment, with a 51% share of the written premium value in 2013.

- According to Hungarian disaster statistical records between 1980 and 2010, the average annual economic damage incurred valued HUF12.9 million (US$57,837). In late may 2013.

- Motor insurance was the second-largest category in the non-life segment during the review period, accounting for a 42% share of the segment's written premium in 2013.

- Non-life insurance is distributed through agents, brokers, direct-marketing and bancassurance. Other distribution channels include online sales and telemarketing.

- The non-life segment is highly concentrated, with the 10 leading companies accounting for a combined share of 93.4% of the segment's total written premiums in 2012.

View Full Report Details and Table of Contents

Report Scope

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 2009-2013 review period and forecast figures for the 2013-2018 forecast period.

- It offers a detailed analysis of the key categiories in Hungary's non-life insurance segment, along with market forecasts until 2018.

- 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

- Understand the demand-side dynamics, key market trends and growth opportunities within the Hungarian non-life insurance segment

- Assess the competitive dynamics in the non-life insurance segment, along with the reinsurance segment

- Identify the growth opportunities and market dynamics within key product categories

- Gain insights into key regulations governing the Hungarian insurance industry and its impact on companies and the market's future

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., Kobe Kozep Europai Kolcsonos Biztosito Egyesulet, Signal Biztosito Zrt

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.

Browse all Insurance research reports at Fast Market Research

You may also be interested in these related reports:

- Non-Life Insurance in Indonesia, Key Trends and Opportunities to 2018
- Life Insurance in Indonesia, Key Trends and Opportunities to 2018
- Life Insurance in the Czech Republic, Key Trends and Opportunities to 2018
- Personal Accident and Health Insurance in Indonesia, Key Trends and Opportunities to 2018
- Life Insurance in Hungary, Key Trends and Opportunities to 2018
- Life Insurance in Turkey, Key Trends and Opportunities to 2018
- Non-Life Insurance in the Czech Republic, Key Trends and Opportunities to 2018
- Non-Life Insurance in Turkey, Key Trends and Opportunities to 2018
- Non-Life Insurance in Malta, Key Trends and Opportunities to 2018
- Life Insurance in Malta, Key Trends and Opportunities to 2018