You are here: 

FMA Q4 2022 Report on the Austrian Insurance Sector: 2022 was a difficult year – significant growth in premiums but massive drop in earning power

Release Date: |

During the 4th quarter of 2022, Austrian insurance undertakings posted an increase in premium volume of 2.03% to € 4.64 billion, in comparison with the corresponding period in 2021. For the full-year 2022 premium volume stood at € 20.82 billion, an increase of 5.36% or by € 1.06 billion compared with the preceding year. These findings have emerged from the Report on the Austrian Insurance Sector for the fourth quarter of 2022, which was published today by the Austrian Financial Market Authority (FMA).

The volume of premiums in the 4th Quarter of 2022 consisted of € 2.71 billion in the non-life/accident insurance sector (+8.13% compared to Q4 2021), € 1.28 billion in the life insurance sector (-8.16%) and € 654.41 million in the health insurance sector (+0.28%). For the full-year 2022 premium volume in non-life and accident insurance increased by 8.59% to € 12.85 billion, and by 3.42% to € 2.63 billion in health insurance. In contrast, the volume of life insurance premiums fell by 0.97% to € 5.34 billion.

In 2022, the technical result compared with 2021 fell by 23.71% (- € 181.6 million) to € 584.42 million, with the financial result falling by 29.27% (- € 902.10 million) to € 2.18 billion. Consequently the result from ordinary activities (EGT) deteriorated by € 975.37 million (- 50.22%) to € 967.0 million.

The total of all assets at market value (excluding investments in the area of unit-linked and index-linked life insurance) stood at € 102.66 billion at the end of 2022, a decrease of -12.02% or – € 14.02 billion below the corresponding value at year-end 2021.

Solvency remains good

The hidden net reserves (the balance of undisclosed reserves and losses) stood at € 10.78 billion at the end of 2022, a decrease of € 13.36 billion (-55.34%) compared with year-end 2021.

With regard to the solvency requirements pursuant to the Insurance Supervision Act 2016 (VAG 2016; Versicherungsaufsichtsgesetz 2016), around nine out of ten of all insurance undertakings (87.88%) had an SCR solvency level of over 200%; i.e. holding more than double the amount of own funds as required. The Solvency Capital Requirement (SCR) measures whether the insurance undertaking is able with 99.5% probability within the next twelve months to absorb unexpected losses as well as to be able to meet its obligations towards policyholders. For around half of all insurance undertakings the MCR solvency level was in the range between approx. 626% to 988%. The Minimum Capital Requirement (MCR) is the minimum amount of own funds that the insurance undertaking is required to hold in any case and at all times.

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

Journalists may address further enquiries to:

Klaus Grubelnik (FMA Media Spokesperson)


+43/(0)676 88 249 516