During Q1 2015 Austria’s insurance undertakings recorded a premium volume of € 5.37 billion, which represents a rise of 4.9% over the same quarter of the previous year. These figures were disclosed in the Report on Q1 2015 Performance of the Austrian Insurance Sector, published today by the Financial Market Authority (FMA).
Broken down according to individual insurance sectors, an increase in premium revenues of 9.62% to € 1.95 billion was seen for the life assurance sector compared with the same period of the previous year. The non-life and accident insurance and health insurance sectors also succeeded in achieving higher premium volumes, by +2.1% to € 2.92 billion and +4.35% to € 501 million respectively. The financial result dropped year on year by 2.77%, which meant that the result from ordinary activities rose during the same period by some € 10.8 million (+2.7%) to € 406.1 million.
The total carrying amount of all assets (excluding deposits retained, investments in unit-linked and index-linked life assurance, investments relating to state-sponsored retirement provision and pro rata interest) increased to € 92.2 billion, which corresponds to a rise of 0.95% as at the end of March 2015 compared with the previous quarter.
At the end of the last quarter, hidden net reserves (the balance of hidden reserves and unrealised losses) showed an increase of 18.26% compared with the previous quarter, amounting to € 24.82 billion. Thus the ratio of reserves to investments amounted to 28.15%.
At 3.69%, the core share ratio (listed shares, share-based investment funds, share risk in mixed funds) remained unchanged in Q1 2015 compared with Q4 2014. The extended share ratio (i.e. with the addition of non-listed shares including holdings, structured debt securities without capital guarantee and structured loans without capital guarantee) decreased and now amounts to 16.92% (Q4 2014: 17.29%).
You can find the full Quarterly Report (in German) on the FMA website at: https://www.fma.gv.at/versicherungen/offenlegung/quartalsberichte/