Life Report

Product Insurance Market Reports Life Rev Hungary

Key Highlights

Get access to Axco’s online product with the latest market intelligence for the market of your choice


  • Key insights and explanations of market developments in life insurance, healthcare and pensions
  • Details Hungary's insurance, social security, pensions and healthcare regulatory framework and company and personal tax considerations
  • Current legislation and upcoming changes
  • The latest developments in Hungary's economic and political environment
  • Demographic information
  • Market statistics and company performance

Report Overview

Independent strategic insight, line of business detail, regulatory information & market data for the non-life (P&C) insurance market of Hungary

The Hungary life and benefits market report provides a comprehensive, impartial analysis of the life insurance market of Hungary.  Information extends to extensive detail on healthcare (public and private), pensions and benefits, and social security. Specialist researchers visit Hungary and interview local professionals working across the local market. The report is updated with new information and data regularly throughout the cycle of country visits.

The report provides information about Hungary’s demographic profile and assesses its economic, political, climate, operational, and security risks. Key data on the investment environment in Hungary is available.

Axco’s report describes the regulatory framework that applies to Hungary domestic life insurance sector, including whether non-admitted insurance is permitted in Hungary; as well as the legislation necessary to know regarding Hungary’s healthcare, pensions and social security.

Statistics include five years of life insurance market performance indicators, including gross written premiums, premium growth and penetration rates. Company statistics show who are the leading life insurance companies in Hingary with local life insurance company premiums, market share and year on year growth.

Life Insurance

Axco provides details on the life insurance sector including Hungary market participants, reinsurance and distribution channels. The reports describe classes of business from both individual and group life such as whole life, endowment, term life and unit-linked.
Information on non-life classes for example critical illness and private medical insurance.


The report describes the public and private healthcare system in Hungary, the scope of cover, accessibility financing and provides an analysis of how the public and private systems complement each other.


Axco reports on the three pillars of Hungary pension provision.

  • State pension benefits including benefit calculations and eligibility criteria 
  • Workplace pension provision; types of schemes calculations eligibility and; tax implications
  • Voluntary individual pension provision, type of products and tax implications

Social Security

The Hungary report provides an in-depth analysis of the regulatory framework governing social security as well as details on financing and eligibility. Information includes but is not limited to

  • state pensions,
  • permanent disability benefit
  • occupational accident and disease
  • maternity and paternity payments 

Hungary Life and Benefits Report Extract

Below are brief extracts of information from the Hungary Life & Benefits Report; more updated information may be available in the latest published report.

Life Insurance

The market is predominately one of savings vehicles rather than risk benefits. Total premiums in 2020 increased by around 5.00%, which was unexpectedly positive, in the year of COVID-19 lockdown, and followed three successive years of growth. Most of the fluctuations are due to unit-linked products, in particular single premiums ....


The IORP II Directive has been implemented in Hungary by Regulations which are in line with EU legislation. There is, however, little appetite in Hungary for IORP, as the initial one was not a success. The Allianz IORP was very small and is now in run-off.

Draft regulations to implement PEPP in Hungary, amending the Insurance Act, and other relevant Acts ....


Hungary has achieved a successful transition from an integrated healthcare system to a contract system in which purchasers and providers are separate. A social health insurance scheme has been implemented, funded from employer and employee contributions and a two-component healthcare tax. Waiting times and service levels continue to cause concern, however, and efforts have been directed toward ....

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