Life insurance market growth grinds to a halt

As for the non-life market, only the smaller lines recorded any significant premium increases during 2008

The economic difficulties facing Hungary, in common with most markets in the Central European region, have impacted on the insurance market, with the strongest negative effect on life insurance business. After the 20.9% growth recorded in life premiums during 2007, the first nine months of 2008 managed only a 0.3% advance over the corresponding period of the previous year. Most of the decline was due to the drop in unit-linked, single premium business, which recorded a 6.5% drop.