Non-Life Insurance in Austria, Key Trends and Opportunities to 2016

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4 Non-Life Insurance Segment Outlook

The Austrian non-life insurance segment recorded a CAGR of XX% during the review period. This growth was primarily derived from the country’s favorable regulatory environment, including the implementation of mandatory liability insurance norms. The segment also benefited from the rising property prices in tier I and tier II cities that increased the value of property insurance products. However, the growth could have been stronger if it were not constrained by the global economic crisis in 2009, which had a noticeable impact on the country’s economic development and caused GDP to decline by XX%. The country was also adversely affected by the rising concern over the sovereign debt crisis in the Eurozone. This unfavorable economic environment created anxiety among global investors, and led to a moderate growth of XX% for the non-life insurance segment during 2009-2010.