Rapid growth in number of FOE companies is becoming a great cause of concern for domestic companies

An EU insurer which establishes a branch in Hungary not only has access to head office insurance capacity, but also enjoys a huge cost advantage over its Hungarian-registered rivals

There are 26 insurance companies supervised in Hungary, of which seven were non-life, eight life and 11 composite. A total of 24 branches have been established by EU insurers on a ‘freedom of establishment’ basis, though only five of these are believed to be active.