Márton Nagy: the next step in the price drop is coming

By: Trademagazin Date: 2025. 04. 24. 10:32

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After reducing food prices and halting premium increases in the banking and telecommunications sectors, it is now the turn of insurance companies, announced Minister of National Economy Márton Nagy in a video uploaded to his Facebook page on Thursday.

In the first three months, it is clear that service provider inflation has stuck at 10 percent, the minister said, adding: “the insurance sector is very much in trouble in this, the price of insurance has increased by 16.5 percent.”

“Insurance, such as home insurance, car insurance or life insurance, has become very expensive. For us, what is acceptable is if premiums do not increase this year, and insurance companies refrain from inflationary premium increases, and where they have already been implemented, they will reverse them. Meanwhile, once again, the amount of home and car insurance will increase, of course, in line with inflation. So insurance is not damaged, there is no underinsurance,”

– the minister said.

As he said, “we are negotiating this week, we are negotiating next week, we will meet again in two weeks on Monday. If the insurers comply with this, then that is fine, we will be able to accept it as a voluntary commitment. If they do not comply, then we will intervene with regulatory tools,” the minister warned.