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Austria non-life insurance market: 2.2% CAGR growth witnessed between 2008-12

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Non-Life Insurance in Austria, Key Trends and Opportunities to 2017 - a new market research report on companiesandmarkets.com

 

PR-Inside.com: 2014-04-03 00:36:04
Non-life insurance accounted for 43.7% of the Austrian insurance industry´s written premium value in 2012, making it the largest segment in the industry when compared to the life and personal accident and health insurance segments, which accounted for 39.8% and 16.4% of overall written premiums in 2012.

The segment grew in written premium value from EUR6.5 billion (US$9.6 billion) in 2008 to EUR7.1 billion (US$9.2 billion) in 2012, at a CAGR of 2.2% during the review period (2008–2012).

The growth of the non-life insurance segment was mainly attributed to the country´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 property insurance category accounted for the largest market share of 46.6% of the non-life segment´s written premium value in 2012. The Austrian non-life insurance segment is highly competitive. The top 10 non-life insurance companies together accounted for 77.7% of the total segment´s written premiums in 2012.

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