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FMA Q2 2023 Report on the Austrian Insurance Sector: premium volume continues to rise, earnings situation significantly improved

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The premium volume of Austrian insurance undertakings increased during the second quarter of 2023 by +4.68% to € 5.36 billion compared with the second quarter of 2022. This increase is broken down as follows for the individual insurances classes: Non-life/accident +9.13% to € 3.38 bn, life insurance -7.69% to € 1.26 bn as well as health insurance +9.36% to € 717 million. The premium volume for the first half of 2022 as a whole rose to € 11.89 billion (+ € 500 million or + 4.48% year-on-year), with non-life/accident insurance increasing by +8.79 % to € 7.84 billion, health insurance decreasing by -7.69% to € 2.62 billion, and life insurance premium volume increasing by +7.02% to € 1.42 billion. These findings have emerged from the Report on the Austrian Insurance Sector for the second quarter of 2023, which was published today by the Austrian Financial Market Authority (FMA).

Significantly improved earnings situation

The technical result improved in comparison with the corresponding period in the previous year by € 185.72 million in the first half of the year, while the financial result improved by € 645.17 million. The Result from ordinary activities (German: Ergebnis der gewöhnlichen Geschäftstätigkeit (EGT)) during this period increased significantly, by € 426.70 million to € 986.44 million (+76.23%).
The total of all assets at market value (excluding investments in the area of unit-linked and index-linked life insurance) of the insurance undertakings stood at € 105 bn, at the end of the first half of the year, approximately € 1 bn lower than the preceding year, but approximately € 2 billion higher compared to year-end 2022.
The undisclosed reserves of investments (excluding funds- and index-based life insurance), which fell from € 24.1 billion at year-end 2021 to € 10.8 billion at the end of the final quarter 2022 – falling by € 13.3 billion (or -55.2%), it has now increased for the second consecutive quarter, to approximately € 12.04 billion. At the end of the reporting period the reserve ratio therefore stood at 12.80%; a year ago it had stood at 14.8%, two years ago it had stood at 25.5%.

Insurance industry on a very stable footing

The solvency of Austrian insurance undertakings remains very stable. Around nine-tenths of insurance undertakings (87.88%) had an SCR solvency level of over 200% at the end of the first half of the year, and therefore had over twice as much own funds as required; this was a significant increase over the previous year, where it was 69.7%. As of 30 June 2023, the average level (median) stood at 257.20% (end of H1 2022: 230.56%; end of H1 2021 221%; and end of H1 2020: 199.29%).

The full quarterly report can be found on the FMA website (in German only) at

Journalists may address further enquiries to:

Klaus Grubelnik


+43/(0)676 88 249 516

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