The foreign business conducted by Austrian insurance groups increased by 4.1% to € 5.8 billion in 2018, thereby contributing 40.3% (2017: 39.8%) to total premium volume of € 14.3 billion (+3%). In 2017 foreign premium volume stood at € 5.5 billion. Currently five Austrian insurance groups (Vienna Insurance Group, Uniqa Group, Grawe Group, Merkur Group, Wüstenrot Group) are active through 87 insurance undertakings and four reinsurance undertakings in 27 countries outside of Austria, primarily in Central, Eastern and South Eastern Europe (CESEE).
High market shares in Central and South Eastern Europe
70% of all premiums from foreign business originate from six countries: Czechia, Poland, Slovakia, Romania, Hungary and Croatia. These countries also form the core foreign markets for Austrian insurance undertakings. Central Europea alone, with approx. 27% is the most important market, with market share highest in Czechia and Slovakia. In South East Europe, Albania in particular is noteworthy, with the aggregated market share of Austrian insurance groups standing at more than 50%. The Baltic states (Estonia, Lithuania and Latvia) are gaining increasing significance for Austrian insurers: the market share there, of 6.1% is already higher than the respective market shares in Hungary or Croatia.
The Report on the Foreign Insurance Business of Austrian Insurance Groups in 2018 can be found on the FMA Website.
Journalists may address further enquiries to:
Klaus Grubelnik (FMA Media Spokesperson)
+43/(0)1/24959-5106
+43/(0)676/882 49 516