{"id":18579,"date":"2018-09-10T10:05:30","date_gmt":"2018-09-10T08:05:30","guid":{"rendered":"https:\/\/www.fma.gv.at\/fma-bericht-zum-2-quartal-2018-der-oesterreichischen-versicherungswirtschaft-praemienvolumen-legte-im-1-halbjahr-zu-das-egt-war-ruecklaeufig\/"},"modified":"2018-09-10T11:38:32","modified_gmt":"2018-09-10T09:38:32","slug":"q2-2018-fma-report-on-the-austrian-insurance-industry-premium-volume-increased-during-h1-while-earnings-fell","status":"publish","type":"post","link":"https:\/\/www.fma.gv.at\/en\/q2-2018-fma-report-on-the-austrian-insurance-industry-premium-volume-increased-during-h1-while-earnings-fell\/","title":{"rendered":"Q2 2018 FMA report on the Austrian insurance industry: premium volume increased during H1 while earnings fell"},"content":{"rendered":"<?xml encoding=\"utf-8\" ?><p>Austrian insurance undertakings observed an increase in premium volume in the second quarter of 2018 by +3.50% to &euro; 4.14 billion compared to the corresponding period in the previous year. This increase could be attributed to an increase in the non-life\/accident insurance sector by +4.94% to &euro; 2.25 billion in the health insurance sector by +4.31% to &euro; 548 million as well as in the life insurance sector by +0.86% to &euro; 1.34 billion. During the first half of 2018 premium volume as a whole rose marginally by 0.87% to &euro;&nbsp;9.38 billion, with non-life\/accident insurance increasing by +3.36% to &euro;&nbsp;5.38 billion, and health insurance increasing by +4.24% to &euro;&nbsp;1.12 billion, with life insurance in contrast falling by -2.35% to &euro;&nbsp;2.88 billion. These findings have emerged from the Report on the Austrian Insurance Sector for the second quarter of 2018, which was published today by the Austrian Financial Market Authority (FMA).<\/p><p><em>Weak earnings situation<\/em><\/p><p>Compared with the first half of 2017, the technical result across all sectors fell by 6.44% to &euro; 306.01 million, with the financial result for the same period being 16.62% lower than in the preceding year. Consequently the result from ordinary activities decreased by -25.72% to &euro; 693.79 million.<\/p><p><em>Adequate reserves<\/em><\/p><p>The total of all investments at market value (excluding investments in the area of unit-linked and index-linked life insurance) stood at &euro; 108.3 billion at the end of the first half of 2018, whereas they stood at &euro; 109 billion at the end of 2017.<\/p><p>Hidden net reserves (the balance of net reserves and net losses) of investments at the end of last quarter have increased by 0.26% to &euro;&nbsp;21.11&nbsp;billion compared to the preceding quarter.<\/p><p>The solvency capital requirement of Austrian insurance undertakings pursuant to the Insurance Supervision Act 2017 was satisfactory as at the middle of 2018: More than half of the undertakings possess more than 220% of the legally required solvency capital requirement (SCR), i.e. twice as much own funds as required. The average value (median) of all insurance undertakings stands at 238.8%.<\/p><p>The full quarterly report can be found on the FMA website (in German only) at <a href=\"https:\/\/www.fma.gv.at\/en\/insurance\/disclosure\/quarterly-reports\/\">https:\/\/www.fma.gv.at\/versicherungen\/offenlegung\/quartalsberichte\/<\/a><\/p><h2>Journalists may address further enquiries to:<\/h2><p>Klaus Grubelnik (FMA Media Spokesperson):<\/p><p>+43\/(0)1\/24959-6006<\/p><p>+43\/(0)676\/882 49 516<\/p>\n","protected":false},"excerpt":{"rendered":"<p>premium volume increased during H1 while earnings fell<\/p>\n","protected":false},"author":60,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"footnotes":""},"categories":[80],"tags":[],"class_list":["post-18579","post","type-post","status-publish","format-standard","hentry","category-press-release"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.8 - 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