Financial Conglomerates in Austria

In 2024, 63 financial conglomerates were identified throughout Europe, of which two have their headquarters in Austria and fall under the direct supervision of the Austrian Financial Market Authority (FMA):

1. Wüstenrot Gruppe, with three material institutions: Bausparkasse Wüstenrot AG, Wüstenrot Versicherungs-AG and Wüstenrot Bank,
2. Grazer Wechselseitige Versicherung AG, with the Hypo-Bank Burgenland AG group of credit institutions (consisting inter alia of Hypo-Bank Burgenland AG, Schelhammer Capital Bank AG and Security KAG).

The FMA performs the coordination function of the conglomerate and analyses the ongoing risk situation and development of the conglomerates based on regularly reported data and indicators. In addition, the FMA conducts relevant on-site inspections regarding the group structure, group strategy, financial situation and the organisational structure, risk management and internal control systems at the level of the conglomerate.