Hungarian government in talks with insurers on premiums freeze

National Economy Minister Márton Nagy said in a video message on social media on Thursday that the government is in talks with insurers about freezing premiums this year to keep inflation down.

Nagy said the sides were negotiating “this week, next week” and “in two weeks on Monday”. “For our part, it would be acceptable if premiums don’t rise this year and insurers disregard inflation-linked increases or roll back ones that have already been implemented,” he added.

If insurers don’t take voluntary measures, Nagy warned that the government would intervene with regulatory means. He noted that service prices were up 10pc in January-March, while insurance premiums had climbed 16.5pc. The government has recently taken measures to bring down consumer prices in the food, banking and telecommunications sectors.

As we wrote earlier – purchase limits, rising prices: downsides to the price margin caps in Hungary

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