Premiums grow by over 7% in Hungary

Data from the National Bank of Hungary showed that local insurers’ aggregate gross written premium increased by 7.4% year-on-year to 1.43 trillion Hungarian forint ($4.14 billion) in 2022, while nonlife premium increased by 12.6% to HUF819 billion, Xprimm reported. The insurers’ profit after tax declined by 57% year-on-year to HUF35.84 billion due to the impact of the extra tax introduced across the sector in the year.