New opportunities in the insurance brokerage market: historical changes in the Széchenyi Card Program

By: Trademagazin Date: 2025. 03. 21. 11:00

Thanks to the cooperation of the Ministry of National Economy, the Association of Hungarian Insurance Consultants (MBTSZ), and Garantiqa Hitelgarancia Zrt., the opportunity to participate in the Széchenyi Card Program has also been opened for companies engaged in insurance agency and brokerage activities (TEÁOR 6622). The change allows them to access preferential, state-supported loans – which they did not have the opportunity to do before.

This amendment is particularly significant for the sector, as there are approximately 24 thousand insurance intermediaries and agents, as well as 346 brokers and multiple agency companies operating in Hungary, which mediate approximately half of the contracts in the domestic insurance market. Approximately 80 percent of corporate property insurance is also concluded through them – making them key players in the financial protection of the SME sector.

“Insurance intermediaries are also able to access Széchenyi Card Program financing, which not only helps their businesses develop, but also contributes to the stability of the entire financial ecosystem and the competitiveness of the Hungarian economy,”

– said László Krisán, CEO of KAVOSZ Zrt.

The change is based on the initiative of the Hungarian Insurance and Financial Services Association and the support of the Ministry of National Economy, which resulted in amendments to the business rules of Garantiqa and the Széchenyi Card Program.

Other important elements of the current amendment to the Széchenyi Card Program conditions are:

The exclusion for defense industry companies has been eliminated, so companies involved in weapons production or military vehicle production can also use the supported schemes;
Financing of purely electric passenger cars is also possible under Széchenyi Lízing MAX+, with a maximum of up to a gross purchase price of HUF 25 million, with a net interest rate of 4.5% for a maximum term of 5 years. A company can apply for leasing financing for up to 10 such vehicles, if the revenue of its previous closed business year reaches HUF 15 million and the company was founded before 31.12.2022;
Green investment goals have been expanded: the additionally subsidized “GREEN” Széchenyi Investment Loan MAX+ can now be applied for, for example, for the installation of solar panels, the use of geothermal energy, investments aimed at water saving, and the purchase of energy-efficient production equipment;
Start-up companies may also be eligible for financing the purchase of agricultural land under the Agricultural Széchenyi Investment Loan.