Unit linked life popularity buoys Hungary’s insurers

Two important events have taken place since the end of 2007; the suspension of MAV and the sale of OTP Garancia

The development of Hungary’s insurance sector in 2007 was characterised by the continuing high rate of growth in unit-linked life products, a decline in the traditional type life policies as well as by the diminishing rate of growth in the non-life account. Most of the changes are attributed to deterioration in the financial condition of Hungarian consumers, due to increased inflation and moderate rate of growth in disposable incomes.