During Q2 2014 Austria’s insurance undertakings recorded a premium volume of € 4.13 billion, which represents a 2.55% increase over the same quarter of the previous year. Looking at the entire first half of 2014, the premium volume amounted to € 9.25 billion, a rise of 1.89% compared with the same period of 2013.
When broken down according to individual insurance sectors, premium volume in Q2 2014 increased for non-life and accident insurance by 2.07% to € 2.03 billion, for health insurance by 3.5% to € 464 million and for life assurance by 2.89% to € 1.64 billion.
Compared with the same half-year period of the previous year, the technical account balance grew by nearly 15% (+€ 56.2 million) and the financial result increased by 3% (+€ 53 million), leading to a roughly € 90.8 million or 9% increase in the result from ordinary activities to total € 1.10 billion in the first six months.
The total carrying amount of all assets (excluding deposits retained, investments in the area of unit-linked and index-linked life assurance, investments relating to state-sponsored retirement provision and pro rata interest) increased to € 85.24 billion, which corresponds to a rise of 0.28% as at the end of June 2014 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 +8.85% compared with the previous quarter, amounting to € 19.36 billion. Thus the ratio of reserves to investments amounted to 22.2%.
The core share ratio (listed shares, share-based investment funds, share risk in mixed funds) was up slightly in Q2 2014, rising to 3.50% from the previous quarter’s level of 3.47%. 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) fell from 17.44% as at the end of March 2014 to 17.33% as at the end of June 2014.
You can find the full Quarterly Report (in German) on the FMA website at: https://www.fma.gv.at/versicherungen/offenlegung/quartalsberichte/
Journalists may address further enquiries to:
Klaus Grubelnik (FMA Media Spokesperson)
+43/(0)1/24959-6006
+43/(0)676/882 49 516