Austrian insurance market posted subunit increase at the end of Q1

23 June 2021 — Andrei Victor
Austrian insurance market totaled at the end of March 2021 EUR 5.85 billion, 0.35% more y-o-y, according to the FMA (Finanzmarktaufsicht in Osterreich / Austrian Financial Market Authority) Q1 2021 Quarterly Report.

Broken down by insurance sectors, the development of premiums was positive in non-life insurance (increasing by 2.13% to EUR 3.79 billion) and in health insurance (by 2.98% to EUR 639 million). At the same time, the GWP volume in life insurance fell by -5.18% to EUR 1.42 billion.

Claims incurred stood at EUR 3.90 billion during the reporting period, which corresponds to a decrease of 2.60% compared to the 1st Quarter 2020.

The result from ordinary activities increased by EUR 387.88 million to EUR 323.14 million compared to the 1st Quarter of 2020 (EUR -64.73 million). This was attributable to the fact that the technical result increased by EUR 182.06 million to EUR 215.60 million, while the financial result rose by EUR 665.96 million to EUR 535.91 million.

At the same time, the total of all assets at market value (excluding investments in the area of unit-linked and index-linked life insurance) as of 31 March 2021 stood at EUR115.05 billion.

The full quarterly report can be found on the FMA website, in German only.

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