AXA Insurance is selling home insurance from April, targeting fifth place on the market within ten years, the company said on Wednesday.
AXA Hungary had HUF 585 million in revenue from premiums from travel insurance last year.
Figures from the Hungarian Insurers Association (MABISz) show insurance companies had HUF 146 billion in revenue from premiums from providing coverage for fire and disaster damage and other property risks.
Internationally, the property insurance segment is highly profitable, accounting for 25% of the AXA group's total revenue from premiums last year.
In Hungary, the AXA group includes AXA Insurance Zrt, AXA Bank Europe SA Hungary Branch, AXA Voluntary and Private Pension Fund, AXA Voluntary Health Fund, AXA Hungary Investment Fund Management Zrt, AXA Personal Finance Consulting Kft and AXA Services Kft.
The AXA group employs 216,000 people in 57 countries, serving 93 million customers.