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About 40% of insurance industry professionals see noticeable contraction in 2012

About 40% of the participants at an insurance industry conference organized by portfolio.hu on Thursday said the sector would contract 2-10% this year.

About 35% of the some 300 participants said the market would contract less than 2% and 19% project a 2-10% expansion.

About 39% said government measures would be the biggest factor affecting the industry over the next three years, while 35% said it would be the country's response to the economic crisis and 19% said it would be the crisis itself.

About 41% of the participants expect the health insurance segment to generate revenue from premiums of HUF 5 billion-20 billion by 2014, while 31% put the amount higher, at HUF 20 billion-50 billion.