During Q3 2013 Austria’s insurance undertakings recorded a premium volume of € 3.73 billion, which represents a slight decrease of 0.29% over the same quarter of the previous year. Looking at the first nine months of 2013, the premium volume amounted to € 12.81 billion, which is a slight rise of 1.17%. Outside Austria, insurers collected premiums worth € 6.67 billion, or 2.7% less, during the same period. All in all, the premium volume of Austrian insurers in the domestic and international markets fell by 0.2% to € 19.48 billion. The news was disclosed in the Report on Q3 2013 Performance of the Austrian Insurance Sector, published today by the Austrian Financial Market Authority (FMA).
In terms of the various insurance sectors, premiums in the life assurance segment decreased by 4.4% to € 1.43 billion in the third quarter due to lower income generated by one-off premiums of classic life assurance products. The segments of non-life and accident insurance (+2.0% to € 1.85 billion) and health insurance (+3.6% to € 452 million) succeeded in achieving higher premiums.
The technical account balance rose by nearly 10% in the first nine months of the current financial year. The financial result dropped by 1.8% compared with the same period in 2012. The result from ordinary activities increased by some € 73.3 million or 6.9% to total € 1.14 billion.
The total carrying amount of all assets (excluding deposits retained, investments in the area of unit-linked and index-linked life assurance, pro rata interest) increased to € 83.66 billion, which corresponds to a rise of 0.46% as at the end of September 2013 compared with the previous quarter.
The core share ratio (listed shares, share-based investment funds, share risk in mixed funds) gave way slightly in Q3 2013, dropping from the previous quarter’s level of 3.54% to 3.50%. At 15.34%, the extended share ratio, i.e. including unlisted shares (including holdings), structured debt securities without capital guarantee and loans without capital guarantee, corresponded roughly to the previous quarter.
The financial result of foreign subsidiaries owned by Austrian groups fell to € 496 million during the first nine months of 2013, a decrease of 4.6% over the same period in 2012. Roughly 77% of all assets (€ 15.89 billion) were held as investments in bonds and cash. At 3.2%, the share of investments held as reserves by foreign subsidiaries was unchanged.
The full Quarterly Report can be found (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