Two new ventures propose to fill the gap of collapsed mutual

Life insurer CIG and commercial p/c insurer Wabard Biztosito inject new competition to growing market

Hungary’s 2007 total premium income increased by 12.1% to HUF930.3bn from 2006, well in excess of the 8% rate of inflation. Life insurance again increased faster, at 20.9% to HUF508.7bn and now accounts for 54.7% of total business. Single premium products increased by 38%, now accounting for 42.3% of the life account.