New Market Research Report: Hungary Insurance Report Q1 2011

Dec. 14, 2010 - PRLog -- We are looking for total premiums of HUF894,969mn. This includes non-life premiums of HUF401,683mn and life premiums of HUF493,286mn. In 2015, the corresponding figures should be HUF1,211,777mn, HUF649,116mn and HUF562,661mn. In terms of the key drivers that underpin our forecasts, we are looking for non-life penetration to rise from 1.42% of GDP in 2010 to 1.69% in 2015. We are looking for life density to increase from US$240 per capita to US$290. BMI's proprietary Insurance Business Environment Rating for Hungary is 58.2.

The results for H110 posted by Vienna Insurance Group, Allianz, Generali and other major crossborder groups who have focused on Central and Eastern Europe were, as of late July 2010, yet to be published. We expect, though, that they will show that conditions - in both the non-life and the life segments - have remained difficult throughout much of the region this year. In Hungary, for instance, the 12% contraction in life premiums in 2009 followed a similar-sized reduction in the previous year.

Issues To Watch

Pricing In The Motor Insurance Lines

The weakness of compulsory motor third-party liability (CMTPL) and CASCO premiums in 2009 implies that even Allianz, which accounts for nearly 40% of CMTPL premiums written in Hungary, lacks pricing power. If Hungary's economy weakens further through 2010, the slide in non-life premiums could accelerate.

Investment Earnings

Relative to their peers in other countries across Central and Southern Europe, Hungarian insurers are highly exposed to volatility in local bond markets, whether as a result of problems that are specific to Hungary or as a result of contagion.

Rationalisation

There is a long-tail of small insurance companies in Hungary. Operating conditions may be such that some of these groups rethink their commitment to the market.

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Report Table of Contents:

Executive Summary
- Table: Overview Of Hungary's Insurance Sector
- Key Insights On Hungary's Insurance Sector
- Issues To Watch
SWOT Analysis
- Hungary Insurance Industry SWOT
- Hungary Political SWOT
- Hungary Economic SWOT
- Hungary Business Environment SWOT
MetLife's Acquisition Of ALICO
- Table: ALICO At A Glance
- Table: ALICO's Pre-Tax Profits By Segment And Region Contribution, Year To November 30 2009 (%)
- Table: ALICO - A Market Leader In Japan
- Table: MetLife's Acquisition Of ALICO
- Table: MetLife And ALICO Combined
Central And Eastern Europe Overview
- Table: Non-Life Segment Premiums In Central And Eastern Europe
- Table: Life Segment Premiums In Central And Eastern Europe
Projections And Forecasts
- Table: Insurance Premiums, 2007-2015
- Projections And Drivers of Growth
- Table: Growth Drivers, 2007-2015
Country Update
- Macroeconomic Outlook
- Table: Hungary Economic Activity, 2007-2015
- Political Outlook
- Long-Term Political Outlook
Insurance Business Environment Ratings
- Table: Hungary's Insurance Business Environment Rating
- Table: Central And Eastern Europe Insurance Business Environment Ratings
Regional Context
- Table: Non-Life Premiums In A Regional Context, 2009
- Table: Life Premiums In A Regional Context, 2009
Major Players In Hungary's Insurance Sector
- Table: Principal Insurance Lines By Gross Written Premiums, H109 (HUFmn)
- Table: Companies By Gross Written Premiums, H109 (HUFmn)
Analysis Of Competitive Conditions
Company Profiles
- Local Company Profiles
- KOBE Traffic Insurance Mutual
- Posta Biztosito (Hungarian Post Insurance/Life)
- Regional Company Profiles
- AEGON
- ALICO
- Allianz
- Aviva
- AXA
- BNP Paribas/Cardif
- ERGO
- Erste Group
- Eureko
- Generali
- GRAWE
- Groupama Garancia
- HDI-Gerling
- ING
- KBC Group
- MetLife
- Prudential Financial
- QBE
- RSA
- UNIQA
- Vienna Insurance Group
- Zurich
Country Snapshot: Hungary Demographic Data
- Section 1: Population
- Table: Demographic Indicators, 2005-2030
- Table: Rural/Urban Breakdown, 2005-2030
- Section 2: Education And Healthcare
- Table: Education, 2002-2005
- Table: Vital Statistics, 2005-2030
- Section 3: Labour Market And Spending Power
- Table: Employment Indicators, 2001-2006
- Table: Consumer Expenditure, 2000-2012 (US$)
- Table: Average Annual Wages, 2000-2012
BMI Methodology
- Insurance Business Environment Ratings
- Table: Insurance Business Environment Indicators And Rationale
- Table: Weighting Of Indicators

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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.