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Hungary life insurance market continues to shrink

Hungarian companies' revenue from premiums on life insurance policies edged down 3% to HUF 114 billion in Q1 from the same period a year earlier, the Hungarian Insurers Association (MABISz) said.

MABISz attributed the decline to a fall in revenue from policies with one-time premiums. These policies generated premiums of HUF 46.8 billion in Q1.

Hungarian insurers had 1.96 million life insurance policies at the end of March, 111,000 fewer than twelve months earlier.