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Insurersʼ revenue from premiums edge up 2% in 2015

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Hungarian insurersʼ revenue from premiums edged up 2.2% to HUF 869 billion last year, the head of the Hungarian Insurers Association (MABISZ) said at a conference yesterday, Hungarian news agency MTI reported.

Premiums revenue from life insurance fell 2.6% to HUF 443 bln, due to a 12% drop in single-premium policy premiums revenue, while premiums revenue from general insurance rose 7.7% to HUF 409 bln, Anett Pandurics said at the insurance conference organized by portfolio.hu. 

Revenue from premiums on pension insurance policies rose overall premiums revenue, she added.

The liability and health insurance segments also show promising growth, she said.

Market concentration was little changed last year, with the top five of Hungaryʼs 25 insurers operating in the country as companies limited by shares and taking 57.8% of market share. The market share of the top ten edged down to 82.3% from 84.2%.

Pandurics said a recent survey by MABISZ reveals that industry insiders think over-regulation is the biggest obstacle to market growth, though the low-yield environment is also a threat.

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