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Follow on Google News | "Hungary Insurance Report Q3 2011" is now available at Fast Market ResearchFast Market Research recommends "Hungary Insurance Report Q3 2011" from Business Monitor International, now available
* Penetration levels in the life and non-life segments are modest, suggesting room for expansion. * The industry trade association reported that in 2009, Hungary's personal income tax system changed adversely for life insurance. * Our core view is that the pace of economic expansion will not accelerate considerably over the coming years. * The income tax rate has been lowered slightly from 17 to 16% in 2011 moderately easing the obligations of tax payers. Overall, Hungary's insurance sector is characterised by low levels of life and non-life penetration. This has not, however, dissuaded major international insurers from participating in the market. In a significant reform affecting Hungary as member of the EU, in early 2011 the European Insurance and Occupational Pensions Authority (EIOPA) was established. EIOPA will have some executive rights in relation to national regulatory bodies, insurance companies and markets. ------------------------------------------------------------ Full Report Details at - http://www.fastmr.com/ ------------------------------------------------------------ On the domestic front, the Association of Hungarian Insurance Companies (MABISZ) said that Act LXXVII of 2009 on legal amendments for the transformation of the tax system abolished tax benefits from January 2010, including the life insurance tax benefit, noting that this and other changes to the taxation system would adversely affect life insurance. Hungary's insurance sector is characterised by modest, but not extraordinarily low, levels of non-life penetration for the region. We forecast non-life penetration to remain at similar levels for the remainder of the forecast period to 2015. This is despite a rebound in the growth rate in non-life premiums after a period of modest contraction registered during and immediately after the global financial crisis. While performing better than its non-life segment, analysis of Hungary's life insurance segment shows that it is, in contrast to the regional powerhouses, achieving only modest levels of market participation. Penetration rates have remained at low levels by regional standards over the past few years and we expect them to contract slightly over the forecast period. Report Table of Contents: Executive Summary - Table: Total Premiums, 2008-2015 - Key Insights And Key Risks SWOT Analysis - Hungary Insurance Industry SWOT - Hungary Political SWOT - Hungary Economic SWOT - Hungary Business Environment SWOT Life - Central And Eastern Europe Life Sector Overview - Table: Central And Eastern Europe's Life Premiums, 2008-2015 (US$mn) - Hungary Life Sector Update - Table: Life Premiums, 2008-2015 - Population - Table: Insurance Sector Key Drivers - Demographics, 2008-2015 Non-Life - Central And Eastern Europe Non-Life Sector Overview - Table: Central And Eastern Europe's Non-Life Premiums, 2008-2015 (US$mn) - Hungary Non-Life Sector Update - Table: Non-Life Premiums, 2008-2015 - Macroeconomic Outlook - Table: Hungary Economic Activity, 2008-2015 - Political Stability Outlook - Table: Europe Security Risk Ratings - Healthcare - Health Insurance - Epidemiology - Table: Insurance SectorKey Drivers - Disability-Adjusted Life Years, 2008-2015 - Motor - Table: Insurance Sector Key Drivers - Autos, 2008-2015 - Tourism - Table: Insurance Sector Key Drivers - Tourism, 2008-2015 Insurance Risk/Reward Ratings - Table: Hungary's Insurance Risk/Reward Ratings - Table: Central And Eastern Europe Insurance Risk/Reward Ratings Competitive Landscape - Competitive Landscape Analysis - Major Players In Hungary's Insurance Sector - Table: Life Segment - Gross Written Premiums And Fees, 9M10 - Table: Non-Life Segment - Gross Written Premiums And Fees, 9M10 - Table: Breakdown Of Compulsory Third-Party Motor Liability Insurance, 9M10 Company Profiles - Local Company Profiles - KOBE (Transport Insurance Association) - Posta Biztosito (Hungarian Post Insurance/Life) - Regional Company Profiles - AEGON - Allianz - Aviva - AXA - BNP Paribas Cardif - ERGO - Eureko - Generali - GRAWE - Groupama - HDI-Gerling/ - ING - KBC Group - MetLife ALICO - Prudential Financial - QBE - RSA - UNIQA - Vienna Insurance Group - Zurich BMI Methodology - Insurance Risk/Reward Ratings - Table: Insurance Risk/Reward Indicators And Rationale - Table: Weighting Of Indicators About Business Monitor International Business Monitor International (BMI) offers a comprehensive range of products and services designed to help senior executives, analysts and researchers assess and better manage operating risks, and exploit business opportunities, across 175 markets. BMI offers three main areas of expertise: Country Risk BMI's country risk and macroeconomic forecast portfolio includes weekly financial market reports, monthly regional Monitors, and in-depth quarterly Business Forecast Reports. Industry Analysis BMI covers a total of 17 industry verticals through a portfolio of services, including in-depth quarterly Country Forecast Reports. View more research from Business Monitor International at http://www.fastmr.com/ About Fast Market Research Fast Market Research is an online aggregator and distributor of market research and business information. We represent the world's top research publishers and analysts and provide quick and easy access to the best competitive intelligence available. 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. # # # Fast Market Research is an online aggregator and distributor of market research and business information. We represent the world's top research publishers and analysts and provide quick and easy access to the best competitive intelligence available. End
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