During Q3 2014 Austria’s insurance undertakings recorded a premium volume of € 3.85 billion, which represents a 3.1% increase over the same quarter of the previous year. Looking at the first nine months of 2014, the premium volume amounted to € 13.10 billion, a rise of 2.25% compared with the same period of 2013. These figures were disclosed in the Report on Q3 2014 Performance of the Austrian Insurance Sector, published today by the Financial Market Authority (FMA).
When broken down according to individual insurance sectors, premium volume increased for non-life and accident insurance by 1.41% to € 6.75 billion, for health insurance by 3.17% to € 4.94 billion and for life assurance by 3.16% to € 1.41 billion.
The technical account balance grew by 9.1% to € 464.2 million and the financial result increased by 0.4% to € 2.51 billion, leading in the first nine months to a roughly € 102 million or 8.9% increase in the result from ordinary activities, totalling € 1.24 billion.
The total amount of all assets (including investments in the area of unit-linked and index-linked life assurance) rose marginally to € 107.34 billion (+0.41%).
At the end of the last quarter, hidden net reserves (the balance of hidden reserves and unrealised losses) showed an increase of +5.67% compared with the previous quarter, amounting to € 20.45 billion. Thus the ratio of reserves to investments amounted to 23.4%.
The core share ratio (listed shares, share-based investment funds, share risk in mixed funds) grew slightly in Q3 2014, climbing from the previous quarter’s value of 3.50% to 3.55%. 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) did not change compared with the last quarter and remained at 17.33%.
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/(0676)/882 49 516