Life insurance gathers pace after double-digit increase in premiums

The life sector now accounts for 44% of Hungary’s insurance market, strengthening market leader ING’s share to 28%

The publication of the 2005 results for the Hungarian market reveal a significant move away from the non-life sector in favour of the long term account. Life business, which now accounts for 44.0% of gross market premiums increased by 24.3% last year in a climate of moderating inflation (below 3% a year), compared with the previous year’s growth of 8.6%.