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Hungary's insurance sector is only modest, says Research and Markets

Research and Markets, the world's largest market research resource, has added Hungary Insurance Report Q3 2011 to their offerings, according to a press release on Businesswire. The aim of the report is to provide industry professionals and interested parties with independent forecasts and competitive intelligence on Hungary's insurance industry.

The report evaluates penetration levels in the life and non-life segments in Hungary as modest, suggesting room for expansion, yet not envisaging considerable accelerations in the pace of economic expansion.

According to the report, although Hungary's insurance sector is characterised by low levels of life and non-life penetration, it has not stopped major international insurers from participating in the market. It predicts non-life penetration to remain at similar levels for the remainder of the forecast period to 2015. Life insurance segment is performing better. However, the report describes the levels of market participation as 'modest.'  Penetration rates are low by regional standards and the report predicts further contractions.