Austria Medical Devices Q1 2019
Austria's insurance is less developed in certain places than others in Western Europe, with life insurance penetration, inparticular, low at about 1.5% of GDP. The same is true of the non-life sector, where basic lines such as motor and property insuranceare well established, in contrast to smaller discretionary lines. This structure is slowly unravelling, however, as interest in discretionaryproducts grows in line with rising income levels, an expanding retirement-age population, and increased demand for privatehealthcare services. As such, the most dynamic opportunities going forward are likely to be found in these relativelyunderdeveloped market segments, such as life, health and personal accident insurance. Meanwhile, providers of basic lines such asmotor insurance, will increasingly struggle to achieve growth in a crowded and price-pressured marketplace.
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