Non-Life Insurance in Austria, Key Trends and Opportunities to 2020

  • ID: 4374922
  • Report
  • Region: Austria
  • 148 pages
  • Timetric
1 of 5

FEATURED COMPANIES

  • Allianz Versicherung Ag
  • Donau Versicherung Ag Vig
  • Generali Versicherung Ag
  • Grawe Versicher
  • Zürich Versicherungs-Ag
  • MORE

This 'Non-Life Insurance in Austria, Key Trends and Opportunities to 2020' report provides a detailed outlook by product category for the Austria non-life insurance segment, and a comparison of the Austrian insurance industry with its regional counterparts.

It provides values for key performance indicators such as written premium, incurred loss, loss ratio, commissions and expenses, combined ratio, total assets, total investment income and retentions during the review (2011-2015) and forecast periods (2015-2020).

The report also analyzes distribution channels operating in the segment, gives a comprehensive overview of the Austrian economy and demographics, explains the various types of natural hazard and their impact on the Austrian insurance industry, and provides detailed information on the competitive landscape in the country.

The report brings together This research, modeling and analysis expertise, giving insurers access to information on segment dynamics and competitive advantages, and profiles of insurers operating in the country. The report also includes details of insurance regulations, and recent changes in the regulatory structure.

Summary
This 'Non-Life Insurance in Austria, Key Trends and Opportunities to 2020' report provides in-depth market analysis, information and insights into the Austrian non-life insurance segment, including:
  • The segment’s detailed outlook by product category
  • A comprehensive overview of the Austrian economy and demographics
  • A comparison of the Austrian insurance industry with its regional counterparts
  • The various distribution channels in the segment
  • Detailed analysis of natural hazards and their impact on the Austrian insurance industry
  • Details of the competitive landscape in the segment
  • Details of regulatory policy applicable to the Austrian insurance industry
Scope
This report provides a comprehensive analysis of the non-life insurance segment in Austria:
  • It provides historical values for the segment for the report’s 2011-2015 review period, and projected figures for the 2015-2020 forecast period.
  • It offers a detailed analysis of the key categories in the segment, and market forecasts to 2020.
  • It profiles the top non-life insurance companies in Austria, and outlines the key regulations affecting them.
Reasons To Buy
  • Make strategic business decisions using in-depth historic and forecast market data related to the Austrian non-life insurance segment and each category within it.
  • Understand the demand-side dynamics, key market trends and growth opportunities in the segment.
  • Assess the competitive dynamics in the segment.
  • Identify growth opportunities and market dynamics in key product categories.
  • Gain insights into key regulations governing the Austrian insurance industry, and their impact on companies and the industry's future.
Key Highlights
  • On February 7, 2017, EIOPA published a Draft Implementing Technical Standards (ITS) on Insurance Product Information Document (IPID) to support the technical advice on possible delegated acts concerning the Insurance Distribution Directive published on February 1, 2017.
  • On February 16, 2017, the EIOPA published a Decision EIOPA-BoS-17/014, regarding the collaboration of the insurance regulatory authorities from all the EU member states in accordance with the requirements stipulated in the Solvency II directive.
  • The new Solvency II standard for insurers came into force in Austria and other European countries in January 2016.
  • In September 2015, Generali Group signed an agreement with Obi World Phones, following which the Generali mobile app will be embedded in the home screen of Obi smartphones.
READ MORE
Note: Product cover images may vary from those shown
2 of 5

FEATURED COMPANIES

  • Allianz Versicherung Ag
  • Donau Versicherung Ag Vig
  • Generali Versicherung Ag
  • Grawe Versicher
  • Zürich Versicherungs-Ag
  • MORE
1 Key Facts and Highlights
2 Executive Summary
3 Economy and Demographics
4 Segment Outlook
4.1 Segment Indicators
4.1.1 Gross written premium
4.1.2 Policies sold
4.1.3 Claims
4.1.4 Profitability
4.1.5 Assets and investments
5 Outlook by Category
5.1 Property Insurance
5.1.1 Product overview
5.1.2 Premium
5.1.3 Policies sold
5.1.4 Claims
5.1.5 Profitability
5.2 Motor Insurance
5.2.1 Product overview
5.2.2 Premium
5.2.3 Policies sold
5.2.4 Claims
5.2.5 Profitability
5.3 Liability Insurance
5.3.1 Product overview
5.3.2 Premium
5.3.3 Policies sold
5.3.4 Claims
5.3.5 Profitability
5.4 Marine, Aviation and Transit Insurance
5.4.1 Product overview
5.4.2 Premium
5.4.3 Policies sold
5.4.4 Claims
5.4.5 Profitability
6 Distribution Channel Outlook
6.1 Analysis by Distribution Channel
6.1.1 Brokers
6.1.2 Agencies
6.1.3 Direct marketing
6.1.4 Bancassurance
6.1.5 E-commerce
7 Natural and Man-Made Hazards
7.1 Flooding
7.2 Storms
7.3 Exposure
8 Competitive Landscape
8.1 Company Profiles
8.1.1 Generali Versicherung AG – company overview
8.1.2 Uniqa Österreich Versicherungen AG – company overview
8.1.3 Wiener Städtische Versicherung AG Vienna Insurance Group – company overview
8.1.4 Allianz Elementar Versicherungs AG – company overview
8.1.5 VIG Vienna Insurance Group AG – company overview
9 Governance, Risk and Compliance
9.1 Legislation Overview and Historical Evolution
9.2 Latest Changes in Regulation
9.3 Legislation and Market Practice by Type of Insurance
9.3.1 Life insurance
9.3.2 Property insurance
9.3.3 Motor insurance
9.3.4 Liability insurance
9.3.5 Marine, aviation and transit insurance
9.3.6 Personal accident and health insurance
9.4 Compulsory Insurance
9.4.1 Motor vehicle third-party liability insurance
9.4.2 Social security system
9.4.3 Air carriers and aircraft operators insurance
9.4.4 Professional indemnity insurance for alternative investment fund managers
9.4.5 Professional indemnity insurance for brokers:
9.4.6 Clinical trial liability
9.5 Supervision and Control
9.5.1 International Association of Insurance Supervisors (IAIS)
9.5.2 European Insurance and Occupational Pensions Authority (EIOPA)
9.5.3 Financial Market Authority (FMA)
9.5.4 Federation of European Risk Management Associations (FERMA)
9.6 Non-Admitted Insurance Regulations
9.6.1 Overview
9.6.2 Intermediaries
9.6.3 Market practices
9.6.4 Fines and Penalties
9.7 Company Registration and Operations
9.7.1 Type of insurance organization
9.7.2 Establishing a local company
9.7.3 Foreign ownership
9.7.4 Types of license
9.7.5 Capital requirements
9.7.6 Solvency margins
9.7.7 Reserve requirements
9.7.8 Investment regulations
9.7.9 Statutory return requirements
9.7.10 Fee structure
9.8 Taxation
9.8.1 Insurance premium or policy taxation
9.8.2 Corporate tax
9.8.3 VAT
9.8.4 Captives
9.9 Legal System
9.9.1 Introduction
9.9.2 Access to court
9.9.3 Alternative dispute resolution
10 Databook
10.1 Policies and Premium
10.2 Claims and Expenses
10.3 Assets and Investments
10.4 Direct Marketing and E-Commerce
10.5 Insurance Brokers and Agencies
10.6 Bancassurance and Other Distribution Channels
10.7 Property Insurance
10.8 Property Insurance by Product
10.9 Motor Insurance
10.1 Motor Insurance by Product
10.11 Liability Insurance
10.12 Marine, Aviation and Transit Insurance
11 Definitions and Methodology
11.1 Definitions
11.2 Methodology
12 About Timetric
12.1 Contact Timetric
12.2 About Timetric
12.3 Timetric’s Services
12.4 Disclaimer

List of Tables

Table 1: Austrian Non-Life Insurance – Key Facts, 2015
Table 2: Austrian Non-Life Insurance – Segment Shares of the Top Insurers, 2015
Table 3: Austrian Government Credit Ratings
Table 4: Austrian Non-Life Insurance – Gross Written Premium (EUR Billion and US$ Billion), 2011–2015
Table 5: Austrian Non-Life Insurance – Gross Written Premium (EUR Billion and US$ Billion), 2015–2020
Table 6: Austrian Non-Life Insurance – Number of Policies Sold (Million), 2011–2015
Table 7: Austrian Non-Life Insurance – Number of Policies Sold (Million), 2015–2020
Table 8: Austrian Non-Life Insurance – Paid Claims (EUR Billion and US$ Billion), 2011–2015
Table 9: Austrian Non-Life Insurance – Paid Claims (EUR Billion and US$ Billion), 2015–2020
Table 10: Austrian Non-Life Insurance – Profitability Ratio (%), 2011–2015
Table 11: Austrian Non-Life Insurance – Profitability Ratio (%), 2015–2020
Table 12: Austrian Non-Life Insurance – Total Assets (EUR Billion and US$ Billion), 2011–2015
Table 13: Austrian Non-Life Insurance – Total Assets (EUR Billion and US$ Billion), 2015–2020
Table 14: Austrian Non-Life Insurance – Total Investment Income (EUR Million and US$ Million), 2011–2015
Table 15: Austrian Non-Life Insurance – Total Investment Income (EUR Million and US$ Million), 2015–2020
Table 16: Austrian Non-Life Insurance – Investment Portfolio (EUR Billion), 2011–2015
Table 17: Austrian Non-Life Insurance – Investment Portfolio (EUR Billion), 2015–2020
Table 18: Austrian Non-Life Insurance – Gross Written Premium by Category (EUR Billion), 2011–2015
Table 19: Austrian Non-Life Insurance – Gross Written Premium by Category (EUR Billion), 2015–2020
Table 20: Austrian Property Insurance – Gross written premium by Sub-Category (EUR Billion), 2015–2020
Table 21: Austrian Property Insurance – Gross written premium by Sub-Category (EUR Billion), 2015–2020
Table 22: Austrian Property Insurance – Number of Policies Sold by Sub-Category (Million), 2011–2015
Table 23: Austrian Property Insurance – Number of Policies Sold by Sub-Category (Million), 2015–2020
Table 24: Austrian Property Insurance – Paid Claims (EUR Billion and US$ Billion), 2011–2015
Table 25: Austrian Property Insurance – Paid Claims (EUR Billion and US$ Billion), 2015–2020
Table 26: Austrian Property Insurance – Loss Ratio (%), 2011–2015
Table 27: Austrian Property Insurance – Loss Ratio (%), 2015–2020
Table 28: Austrian Motor Insurance – Gross Written Premium by Sub-Category (EUR Billion), 2011–2015
Table 29: Austrian Motor Insurance – Gross written premium by Sub-Category (EUR Billion), 2015–2020
Table 30: Austrian Motor Insurance – Number of Policies Sold by Sub-Category (Thousand), 2011–2015
Table 31: Austrian Motor Insurance – Number of Policies Sold by Sub-Category (Thousand), 2015–2020
Table 32: Austrian Motor Insurance – Paid Claims (EUR Billion and US$ Billion), 2011–2015
Table 33: Austrian Motor Insurance – Paid Claims (EUR Billion and US$ Billion), 2015–2020
Table 34: Austrian Motor Insurance – Loss Ratio (%), 2011–2015
Table 35: Austrian Motor Insurance – Loss Ratio (%), 2015–2020
Table 36: Austrian Liability Insurance – Gross Written Premium by Sub-Category (EUR Billion), 2011–2015
Table 37: Austrian Liability Insurance – Gross Written Premium by Sub-Category (EUR Billion), 2015–2020
Table 38: Austrian Liability Insurance – Number of Policies Sold (Million), 2011–2015
Table 39: Austrian Liability Insurance – Number of Policies Sold (Million), 2015–2020
Table 40: Austrian Liability Insurance – Paid Claims (EUR Million and US$ Million), 2011–2015
Table 41: Austrian Liability Insurance – Paid Claims (EUR Million and US$ Million), 2015–2020
Table 42: Austrian Liability Insurance – Loss Ratio (%), 2011–2015
Table 43: Austrian Liability Insurance – Loss Ratio (%), 2015–2020
Table 44: Austrian Transport Network – Global Rankings
Table 45: Austrian Marine, Aviation and Transit Insurance – Gross Written Premium by Sub-Category (EUR Million), 2011–2015
Table 46: Austrian Marine, Aviation and Transit Insurance – Gross Written Premium by Sub-Category (EUR Million), 2015–2020
Table 47: Austrian Marine, Aviation and Transit Insurance – Number of Policies Sold (Thousand), 2011–2015
Table 48: Austrian Marine, Aviation and Transit Insurance – Number of Policies Sold (Thousand), 2015–2020
Table 49: Austrian Marine, Aviation and Transit Insurance – Paid Claims (EUR Million and US$ Million), 2011–2015
Table 50: Austrian Marine, Aviation and Transit Insurance – Paid Claims (EUR Million and US$ Million), 2015–2020
Table 51: Austrian Marine, Aviation and Transit Insurance – Loss Ratio (%), 2011–2015
Table 52: Austrian Marine, Aviation and Transit Insurance – Loss Ratio (%), 2015–2020
Table 53: Austrian Non-Life Segment – Market Shares of Leading Insurers (%), 2015
Table 54: Generali Versicherung AG – Key Facts
Table 55: Generali Versicherung AG – Key Financials (EUR Million), 2011–2015
Table 56: Uniqa Österreich Versicherungen AG – Key Facts
Table 57: Uniqa Österreich Versicherungen AG – Key Financials (EUR Million), 2011–2015
Table 58: Wiener Städtische Versicherung AG – Key Facts
Table 59: Wiener Städtische Versicherung AG – Key Financials (EUR Million), 2011–2015
Table 60: Allianz Elementar Versicherungs AG – Key Facts
Table 61: Allianz Elementar Versicherungs AG – Key Financials (EUR Million), 2011–2015
Table 62: VIG Vienna Insurance Group AG – Key Facts
Table 63: VIG Vienna Insurance Group AG – Key Financials (EUR Million), 2011–2015
Table 64: Austria – Insurance Regulatory Framework Key Features
Table 65: Austria – Life Insurance Regulatory Framework
Table 66: Austria – Property Insurance Regulatory Framework
Table 67: Austria – Motor Insurance Regulatory Framework
Table 68: Austria – Bonus-Malus System for Motor Insurance
Table 69: Austria – Liability Insurance Regulatory Framework
Table 70: Austria – Minimum Coverage for Aircraft Third-Party Liability Per Accident and Aircraft
Table 71: Austria– Insurance Premium Tax Rates for the Financial Year 2016
Table 72: Austria – Corporate Tax Rates for the Financial Year 2017
Table 73: Austrian Insurance Industry – Policies and Premium, 2011–2015
Table 74: Austrian Insurance Industry – Policies and Premium, 2015–2020
Table 75: Austrian Non-Life Insurance – Claims and Expenses, 2011–2015
Table 76: Austrian Non-Life Insurance – Claims and Expenses, 2015–2020
Table 77: Austrian Non-Life Insurance – Assets and Investments, 2011–2015
Table 78: Austrian Non-Life Insurance – Assets and Investments, 2015–2020
Table 79: Austrian Non-Life Insurance – Direct Marketing and E-Commerce, 2011–2015
Table 80: Austrian Non-Life Insurance – Direct Marketing and E-Commerce, 2015–2020
Table 81: Austrian Non-Life Insurance – Insurance Brokers and Agencies, 2011–2015
Table 82: Austrian Non-Life Insurance – Insurance Brokers and Agencies, 2015–2020
Table 83: Austrian Non-Life Insurance – Insurance Brokers and Agencies, 2011–2015
Table 84: Austrian Non-Life Insurance – Insurance Brokers and Agencies, 2015–2020
Table 85: Austrian Non-Life Insurance – Property Insurance, 2011–2015
Table 86: Austrian Non-Life Insurance – Property Insurance, 2015–2020
Table 87: Austrian Non-Life Insurance – Property Insurance by Product, 2011–2015
Table 88: Austrian Non-Life Insurance – Property Insurance by Product, 2015–2020
Table 89: Austrian Non-Life Insurance – Motor Insurance, 2011–2015
Table 90: Austrian Non-Life Insurance – Motor Insurance, 2015–2020
Table 91: Austrian Non-Life Insurance – Motor Insurance by Product, 2011–2015
Table 92: Austrian Non-Life Insurance – Motor Insurance by Product, 2015–2020
Table 93: Austrian Non-Life Insurance – Liability Insurance, 2011–2015
Table 94: Austrian Non-Life Insurance – Liability Insurance, 2015–2020
Table 95: Austrian Non-Life Insurance – Marine, Aviation and Transit Insurance, 2011–2015
Table 96: Austrian Non-Life Insurance – Marine, Aviation and Transit Insurance, 2015–2020
Table 97: Insurance Industry Definitions

List of Figures

Figure 1: Austrian Real GDP (EUR Billion), 2011–2020
Figure 2: Austrian Consumer Price Inflation (%), 2011–2020
Figure 3: EUR–US$ Exchange Rate, 2011–2020
Figure 4: Austrian Current Account Balance (% of GDP), 2011–2015
Figure 5: Austrian Unemployment Rate, 2011–2020
Figure 6: Austrian Population by Age Group, 1990–2025
Figure 7: Austrian Non-Life Insurance – Gross Written Premium (EUR Billion), 2011–2020
Figure 8: Austrian Non-Life Insurance – Number of Policies Sold (Million), 2011–2020
Figure 9: Austrian Non-Life Insurance – Paid Claims (EUR Billion), 2011–2020
Figure 10: Austrian Non-Life Insurance – Profitability Ratio (%), 2011–2020
Figure 11: Austrian Non-Life Insurance – Total Assets (EUR Billion), 2011–2020
Figure 12: Austrian Non-Life Insurance – Total Investment Income (EUR Million), 2011–2020
Figure 13: Austrian Non-Life Insurance – Investment Portfolio (EUR Billion), 2011–2020
Figure 14: Austrian Non-Life Insurance – Investment Portfolio Dynamics by Category, 2011–2020
Figure 15: Austrian Non-Life Insurance – Direct Written Premium by Category (EUR Billion), 2011–2020
Figure 16: Austrian Non-Life Insurance – Direct Written Premium Dynamics by Category, 2011–2020
Figure 17: Austrian Property Insurance – Gross written premium by Sub-Category (EUR Billion), 2011–2020
Figure 18: Austrian Property Insurance – Gross written premium Dynamics by Sub-Category, 2011–2020
Figure 19: Austrian Property Insurance – Number of Policies Sold by Sub-Category (Million), 2011–2020
Figure 20: Austrian Property Insurance – Paid Claims (EUR Billion), 2011–2020
Figure 21: Austrian Property Insurance – Earned Premium, Incurred Loss and Loss Ratio (EUR Billion and %), 2011–2020
Figure 22: Austrian Motor Insurance – Gross written premium by Sub-Category (EUR Billion), 2011–2020
Figure 23: Austrian Motor Insurance – Gross written premium Dynamics by Sub-Category, 2011–2020
Figure 24: Austrian Motor Insurance – Number of Policies Sold by Sub-Category (Thousand), 2011–2020
Figure 25: Austrian Motor Insurance – Paid Claims (EUR Billion), 2011–2020
Figure 26: Austrian Motor Insurance – Earned Premium, Incurred Loss and Loss Ratio (EUR Billion and %), 2011–2020
Figure 27: Austrian Liability Insurance – Gross Written Premium (EUR Billion), 2011–2020
Figure 28: Austrian Liability Insurance – Number of Policies Sold (Million), 2011–2020
Figure 29: Austrian Liability Insurance – Paid Claims (EUR Million), 2011–2020
Figure 30: Austrian Liability Insurance – Earned Premium, Incurred Loss and Loss Ratio (EUR Billion and %), 2011–2020
Figure 31: Austrian Marine, Aviation and Transit Insurance – Gross Written Premium (EUR Million), 2011–2020
Figure 32: Austrian Marine, Aviation and Transit Insurance – Number of Policies Sold (Thousand), 2011–2020
Figure 33: Austrian Marine, Aviation and Transit Insurance – Paid Claims (EUR Million), 2011–2020
Figure 34: Austrian Marine, Aviation and Transit Insurance – Earned Premium, Incurred Loss and Loss Ratio (EUR Million and %), 2011–2020
Figure 35: Austrian Non-Life Segment – Market Shares of Leading Insurers (%), 2015
Figure 36: Austria – The Three Pillars of Solvency II
Figure 37: Austria – Insurance Supervision and Control at Various Levels
Figure 38: Austria – Insurance Regulatory Frameworks for Company Registration and Operation
Note: Product cover images may vary from those shown
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4 of 5

FEATURED COMPANIES

  • Allianz Versicherung Ag
  • Donau Versicherung Ag Vig
  • Generali Versicherung Ag
  • Grawe Versicher
  • Zürich Versicherungs-Ag
  • MORE
This 'Non-Life Insurance in Austria, Key Trends and Opportunities to 2020' report provides in-depth market analysis, information and insights into the Austrian non-life insurance segment, including:
  • The segment’s detailed outlook by product category
  • A comprehensive overview of the Austrian economy and demographics
  • A comparison of the Austrian insurance industry with its regional counterparts
  • The various distribution channels in the segment
  • Detailed analysis of natural hazards and their impact on the Austrian insurance industry
  • Details of the competitive landscape in the segment
  • Details of regulatory policy applicable to the Austrian insurance industry
Note: Product cover images may vary from those shown
5 of 5
  • Generali Versicherung Ag
  • Uniqa Österreich Versicherung Ag
  • Wiener Städtische Versicherung Ag
  • Allianz Versicherung Ag
  • Vig Vienna Insurance Group Ag
  • Generali Holding Vienna Ag
  • Donau Versicherung Ag Vig
  • Zürich Versicherungs-Ag
  • Grawe Versicher
Note: Product cover images may vary from those shown
6 of 5
Note: Product cover images may vary from those shown
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