Motorists in Budapest paid higher premiums: an average HUF 83,500, up 11%.

The average premium for individual policies covering taxis rose 16% to HUF 167,700, while the premium for trucks rose 5% to HUF 96,400.

The average premium for fleet passenger cars increased 10% to HUF 82,400. There were about 4,186,000 compulsory vehicle insurance policies in Hungary during the period.

The MNB noted that payouts on compulsory vehicle insurance policy claims increased 5pc.