DEVELOPMENT OF COMMERCIAL INSURANCE BUSINESS IN SLOVAKIA AND HUNGARY IN THE YEARS 1997 - 2006

Insurance industry belongs to the most important branches of economy. It performs a couple of very important functions from the macroeconomic point of view: accumulation, redistribution, stimulation and control function. Insurance companies are big players on the financial market so insurance system deserves adequate attention. This paper deals with the development and comparison of insurance market in Slovakia and Hungary. Insurance becomes more and more significant and its development correspondents tight with national economy. The authors focused their attention on the selected most important indicators as follow: gross written premium, indemnity costs, technical reserves, investment activity and concentration in an insurance industry.