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The Hungarian Insurance Market: Economic Transition in the Insurance Sector
Author(s) -
Venard Bertrand,
Halek Martin,
Dorfman Mark S.
Publication year - 2008
Publication title -
risk management and insurance review
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.386
H-Index - 16
eISSN - 1540-6296
pISSN - 1098-1616
DOI - 10.1111/j.1540-6296.2008.00145.x
Subject(s) - monopoly , business , market economy , bancassurance , insurance industry , state (computer science) , nonmarket forces , insurance policy , general insurance , insurance law , factor market , economics , finance , actuarial science , algorithm , computer science
This article analyzes Hungary's insurance sector as an important part of the country's economic transition from a centrally planned economy to a market economy. It details the historic economic development of the Hungarian insurance market from a state monopoly to a competitive insurance market where foreign‐owned insurance companies have a dominant market share.