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Life Insurance in Austria, Key Trends and Opportunities to 2020

Life Insurance in Austria, Key Trends and Opportunities to 2020

Synopsis

Timetric’s 'Life Insurance in Austria, Key Trends and Opportunities to 2020' report provides a detailed analysis of the market trends, drivers and challenges in the Austrian life insurance segment.

It provides key performance indicators such as written premium, incurred loss, loss ratio, commissions and expenses, 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, and provides detailed information on the competitive landscape in the country.

The report brings together Timetric’s 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

Timetric’s 'Life Insurance in Austria, Key Trends and Opportunities to 2020' report provides in-depth market analysis, information and insights into the Austrian life insurance segment, including:

  • The segment’s growth prospects by life insurance category
  • Key trends, drivers and challenges for the segment
  • A comprehensive overview of the Austrian economy and demographics
  • The various distribution channels in the segment
  • 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 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 analyzes the various distribution channels for life insurance products in Austria.
  • It profiles the top 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 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 January 3, 2017, the new guidelines on product oversight and governance arrangements became law and would be implemented by 2018.
  • On September 27, 2016, Austria's Financial Market Supervisory Authority (FMA) reduced the maximum authorized interest rate in new classic life insurance contracts from 1.0% to 0.5%, becoming effective from January 1, 2017.
  • In October 2015, the FMA passed the Regulation on Information Requirements, which mandated the clear and transparent presentation of information prior to and upon signing a life insurance contract.
  • Austria’s life segment is concentrated, with the 10 leading insurers accounting for 78.9% of the segment’s total gross written premium in 2015.


  • Key Facts and Highlights
    • Table Austrian Life Insurance - Key Facts, 2015
    • Table Austrian Life Insurance - Segment Shares of the Top Insurers, 2015
  • Executive Summary
  • Economy and Demographics
    • Table Austrian Government Credit Ratings
  • Segment Outlook
    • Segment Indicators
      • Gross written premium
        • Table Austrian Life Insurance - Gross Written Premium (EUR Billion and US$ Billion), 2011-2015
        • Table Austrian Life Insurance - Gross Written Premium (EUR Billion and US$ Billion), 2015-2020
      • Policies sold
        • Table Austrian Life Insurance - Number of Policies Sold (Million), 2011-2015
        • Table Austrian Life Insurance - Number of Policies Sold (Million), 2015-2020
      • Claims
        • Table Austrian Life Insurance - Paid Claims (EUR Billion and US$ Billion), 2011-2015
        • Table Austrian Life Insurance - Paid Claims (EUR Billion and US$ Billion), 2015-2020
      • Sum assured
        • Table Austrian Life Insurance - Sum Assured (EUR Million and US$ Million), 2011-2015
        • Table Austrian Life Insurance - Sum Assured (EUR Million and US$ Million), 2015-2020
      • Assets and investments
        • Table Austrian Life Insurance - Total Assets (EUR Billion and US$ Billion), 2011-2015
        • Table Austrian Life Insurance - Total Assets (EUR Billion and US$ Billion), 2015-2020
        • Table Austrian Life Insurance - Total Investment Income (EUR Billion and US$ Billion), 2011-2015
        • Table Austrian Life Insurance - Total Investment Income (EUR Billion and US$ Billion), 2015-2020
        • Table Austrian Life Insurance - Investment Portfolio (EUR Billion), 2011-2015
        • Table Austrian Life Insurance - Investment Portfolio (EUR Billion), 2015-2020
  • Outlook by Sub-Segment
    • Table Austrian Life Insurance - Gross Written Premium by Sub-Segment (EUR Billion), 2011-2015
    • Table Austrian Life Insurance - Gross Written Premium by Sub-Segment (EUR Billion), 2015-2020
    • Individual Life Insurance
      • Premium
        • Table Austrian Individual Life Insurance - Gross Written Premium by Category (EUR Billion), 2011-2015
        • Table Austrian Individual Life Insurance - Gross Written Premium by Category (EUR Billion), 2015-2020
      • Policies sold
        • Table Austrian Individual Life Insurance - Number of Policies Sold by Category (Million), 2011-2015
        • Table Austrian Individual Life Insurance - Number of Policies Sold by Category (Million), 2015-2020
      • Penetration
    • Group Life Insurance
      • Premium
        • Table Austrian Group Life Insurance - Gross Written Premium by Category (EUR Million), 2011-2015
        • Table Austrian Group Life Insurance - Gross Written Premium by Category (EUR Million), 2015-2020
  • Distribution Channel Outlook
  • Competitive Landscape
    • Table Austrian Life Insurance - Segment Shares of the Leading Insurers (%), 2015
    • Company Profiles
      • Sparkassen Versicherung AG Vienna Insurance Group - company overview
        • Table Sparkassen Versicherung AG Vienna Insurance Group - Key Facts
        • Table Sparkassen Versicherung AG Vienna Insurance Group - Key Financials (EUR Million), 2011-2015
      • Wiener Städtische Versicherung AG Vienna Insurance Group - company overview
        • Table Wiener Städtische Versicherung AG Vienna Insurance Group - Key Facts
        • Table Wiener Städtische Versicherung AG Vienna Insurance Group - Key Financials (EUR Million), 2011-2015
      • Raiffeisen Versicherung AG - company overview
        • Table Raiffeisen Versicherung AG - Key Facts
        • Table Raiffeisen Versicherung AG - Key Financials (EUR Million), 2011-2015
      • Generali Versicherung AG - company overview
        • Table Generali Versicherung AG - Key Facts
        • Table Generali Versicherung AG - Key Financials (EUR Million), 2011-2015
      • Ergo Versicherung AG - company overview
        • Table Ergo Versicherung AG - Key Facts
        • Table Ergo Versicherung AG - Key Financials (EUR Million), 2011-2015
  • Governance, Risk and Compliance
    • Table Austria - Insurance Regulatory Framework Key Features
    • Legislation Overview and Historical Evolution
    • Latest Changes in Regulation
    • Legislation and Market Practice by Type of Insurance
      • Life insurance
        • Table Austria - Life Insurance Regulatory Framework
      • Property insurance
        • Table Austria - Property Insurance Regulatory Framework
      • Motor insurance
        • Table Austria - Motor Insurance Regulatory Framework
        • Table Austria - Bonus-Malus System for Motor Insurance
      • Liability insurance
        • Table Austria - Liability Insurance Regulatory Framework
      • Marine, aviation and transit insurance
      • Personal accident and health insurance
    • Compulsory Insurance
      • Motor vehicle third-party liability insurance
      • Social security system
      • Air carriers and aircraft operators insurance
        • Table Austria - Minimum Coverage for Aircraft Third-Party Liability Per Accident and Aircraft
      • Professional indemnity insurance for alternative investment fund managers
      • Professional indemnity insurance for brokers:
      • Clinical trial liability
    • Supervision and Control
      • International Association of Insurance Supervisors (IAIS)
      • European Insurance and Occupational Pensions Authority (EIOPA)
      • Financial Market Authority (FMA)
      • Federation of European Risk Management Associations (FERMA)
    • Non-Admitted Insurance Regulations
      • Overview
      • Intermediaries
      • Market practices
      • Fines and Penalties
    • Company Registration and Operations
      • Type of insurance organization
      • Establishing a local company
      • Foreign ownership
      • Types of license
      • Capital requirements
      • Solvency margins
      • Reserve requirements
      • Investment regulations
      • Statutory return requirements
      • Fee structure
    • Taxation
      • Insurance premium or policy taxation
        • Table Austria- Insurance Premium Tax Rates for the Financial Year 2016
      • Corporate tax
        • Table Austria - Corporate Tax Rates for the Financial Year 2017
      • VAT
      • Captives
    • Legal System
      • Introduction
      • Access to court
      • Alternative dispute resolution
  • Databook
    • Policies and Premium
      • Table Austrian Life Insurance - Policies and Premium, 2011-2015
      • Table Austrian Life Insurance - Policies and Premium, 2015-2020
    • Claims and Expenses
      • Table Austrian Life Insurance - Claims and Expenses, 2011-2015
      • Table Austrian Life Insurance - Claims and Expenses, 2015-2020
    • Assets and Investments
      • Table Austrian Life Insurance - Assets and Investments, 2011-2015
      • Table Austrian Life Insurance - Assets and Investments, 2015-2020
    • Direct Marketing and E-Commerce
      • Table Austrian Life Insurance - Direct Marketing and E-Commerce, 2011-2015
      • Table Austrian Life Insurance - Direct Marketing and E-Commerce, 2015-2020
    • Insurance Brokers and Agencies
      • Table Austrian Life Insurance - Insurance Brokers and Agencies, 2011-2015
      • Table Austrian Life Insurance - Insurance Brokers and Agencies, 2015-2020
    • Bancassurance and Other Distribution Channels
      • Table Austrian Life Insurance - Insurance Brokers and Agencies, 2011-2015
      • Table Austrian Life Insurance - Insurance Brokers and Agencies, 2015-2020
    • Individual Life Insurance
      • Table Austrian Life Insurance - Individual Life Insurance, 2011-2015
      • Table Austrian Life Insurance - Individual Life Insurance, 2015-2020
    • Individual Life Insurance by Product
      • Table Austrian Life Insurance - Individual Life Insurance by Product, 2011-2015
      • Table Austrian Life Insurance - Individual Life Insurance by Product, 2015-2020
    • Group Life Insurance
      • Table Austrian Life Insurance - Group Life Insurance, 2011-2015
      • Table Austrian Life Insurance - Group Life Insurance, 2015-2020
    • Group Life Insurance by Product
      • Table Austrian Life Insurance - Group Life Insurance by Product, 2011-2015
      • Table Austrian Life Insurance - Group Life Insurance by Product, 2015-2020
    • Individual Life - Single vs Non-Single Premium
      • Table Austrian Life Insurance - Individual Life Insurance by Premium, 2011-2015
      • Table Austrian Life Insurance - Individual Life Insurance by Premium, 2015-2020
    • Group Life - Single vs Non-Single Premium
      • Table Austrian Life Insurance - Group Life Insurance by Premium, 2011-2015
      • Table Austrian Life Insurance - Group Life Insurance by Premium, 2015-2020
    • Linked vs Non-Linked Policies
      • Table Austrian Life Insurance - Linked vs Non-Linked Policies, 2011-2015
      • Table Austrian Life Insurance - Linked vs Non-Linked Policies, 2015-2020
  • Definitions and Methodology
    • Definitions
      • Table Insurance Industry Definitions
    • Methodology
  • About Timetric
    • Contact Timetric
    • About Timetric
    • Timetric's Services
    • Disclaimer

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