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Austria life insurance market: Written premium value at $8.4 billion in 2012
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Life Insurance in Austria, Key Trends and Opportunities to 2017 - a new market research report on companiesandmarkets.com

 

PR-Inside.com: 2014-04-03 00:35:01
In terms of gross written premium, Austrian life insurance was the second-largest segment, behind non-life, in the Austrian insurance industry during the review period. The segment accounted for industry shares of 45.0%, 42.3% and 39.8% in 2010, 2011 and 2012 respectively. The segment fell from being the leading insurance segment in 2011 to the second-largest in 2012. In terms of value, the Austrian life segment´s written premium fell from EUR7.4 billion (US$10.8 billion) in 2008 to EUR6.5 billion (US$8.4 billion) in 2012, at a review-period CAGR of -3.1%. This was mainly due to the rapid decline of single-premium life insurance products following changes to lock-in periods, which increased from 10 to 15 years. The increase in minimum lock-in periods had an adverse impact on single-premium business, which declined by 32.9% in 2011 and 6.4% in 2012. The reduction of government subsidies on government-sponsored pension plans reduced demand for life insurance products in Austria. Austria has one of the fastest-aging populations in the EU, which will create growth opportunities for the life segment over the forecast period. Austria´s life insurance segment is highly concentrated with the 10 leading insurers accounting for 76.9% of the segment´s total gross written premium in 2012. Click for report details: www.companiesandmarkets.com/Market/Finance-and-Banking/Market-Re .. Browse all Finance and Banking Market Research Reports www.companiesandmarkets.com/Market/Finance-and-Banking/Market-Re .. Browse all Finance and Banking Company Profile Reports www.companiesandmarkets.com/Market/Finance-and-Banking/Company-P .. Browse all Latest Market Research Reports www.companiesandmarkets.com/Market/All/Market-Research?aCode=f3f .. About Us Companiesandmarkets.com is a leading online business information aggregator with over 300,000 market reports and company profiles available to our clients. Our extensive range of reports are sourced from the leading publishers of business information and provide clients with the widest range of information available. In terms of company profiles, Companiesandmarkets.com’s online database allows clients access to market and corporate information to over 100,000 different companies. We provide clients with a fully indexed database of information where clients can find specific market reports on their niche industry sectors of interest.
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