Non-Life Insurance in Austria, Key Trends and Opportunities to 2018

Date: 2015-09

Non-life insurance accounted for 44.2% of the Austrian insurance industryโ€™s written premium value in 2013, making it its largest segment when compared to the life and personal accident and health segments, which accounted for 39.0% and 16.8% respectively of the overall written premium in 2013. This growth was mainly attributed to the countryโ€™s favorable regulatory environment for non-life insurers, including the implementation of mandatory liability insurance for doctors, dentists, hospitals and convalescent homes, and rising property prices. The rise in property prices in Vienna supported the property insurance category, to record a review-period CAGR of 3.7%. Improving economic indicators such as increasing household consumption expenditure and stable GDP growth are also expected to drive the segmentโ€™s growth over the forecast period (2013โ€“2018), recording a CAGR of 3.6%.

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