{"id":35333,"date":"2021-09-15T11:03:52","date_gmt":"2021-09-15T09:03:52","guid":{"rendered":"https:\/\/www.fma.gv.at\/fma-bericht-zum-2-quartal-2021-der-oesterreichischen-versicherungswirtschaft-praemienvolumen-weiter-steigend-signifikanter-anstieg-des-egt\/"},"modified":"2021-09-16T09:20:22","modified_gmt":"2021-09-16T07:20:22","slug":"fma-q2-2021-report-on-the-austrian-insurance-sector-premium-volume-continues-to-increase-significant-increase-in-result-from-ordinary-activities","status":"publish","type":"post","link":"https:\/\/www.fma.gv.at\/en\/fma-q2-2021-report-on-the-austrian-insurance-sector-premium-volume-continues-to-increase-significant-increase-in-result-from-ordinary-activities\/","title":{"rendered":"FMA Q2 2021 Report on the Austrian Insurance Sector: premium volume continues to increase, significant increase in result from ordinary activities."},"content":{"rendered":"<?xml encoding=\"utf-8\" ?><p class=\"has-text-align-left wp-block-paragraph\"><br>The premium volume of Austrian insurance undertakings increased during the second quarter of 2021 by +3.82% to &euro; 4.78 billion compared with the second quarter of 2020. This increase is broken down as follows for the individual insurances classes: Non-life\/accident +4.35% to &euro; 2.85 bn, life insurance +2.69% to &euro; 1.31 bn as well as health insurance +3.84% to &euro; 624 million. The premium volume for the first half of 2020 as a whole rose to &euro; 10.63 billion, with non-life\/accident insurance increasing by +3.07 % to &euro; 6.64 billion, health insurance increasing by +3.40% to &euro; 1.26 billion, while life insurance premium volume decreased by -1.56% to &euro; 2.73 billion. These findings have emerged from the Report on the Austrian Insurance Sector for the second quarter of 2021, which was published today by the Austrian Financial Market Authority (FMA).<\/p><p class=\"has-text-align-left wp-block-paragraph\"><br><strong>Significantly improved earnings situation<\/strong><br>Financial results for the first half of 2020 were affected by the capital market turbulence that occurred following the outbreak of the COVID-19 pandemic. In contrast, the corresponding results for this year are significantly more positive. During the first half of 2021, the result from ordinary activities (EGT; Ergebnis der gew&ouml;hnlichen Gesch&auml;ftst&auml;tigkeit)) was able to be almost doubled in comparison with the corresponding period in 2020: increasing from &euro; 684.7 million to &euro; 1,348 million, an increase by &euro; 663.3 million or 96.88%. This is primarily attributable to the financial result, which improved by +113.16% or &euro; 971.9 million to &euro; 1,830.7 million. The technical result also improved significantly by +8.20% or + &euro; 35.2 million to &euro; 464 million.<br>The total of all assets at market value (excluding investments in the area of unit-linked and index-linked life insurance) of the insurance undertakings stood at &euro;116.1 bn at the end of the first half of 2021, an increase of &euro; 7.4 billion or 6.8% over the previous year. They stood at &euro; 114.4 bn at year end 2020, and &euro;115.1 bn at the end of the 2nd Quarter of 2021.<br>The undisclosed reserves of investments (excluding funds- and index-based life insurance) in contrast fell marginally by 0.14% to &euro; 23.96 billion at the end of the 2nd quarter compared with the first quarter of 2021. At the end of the reporting period the reserve ratio therefore stood at 24.54%; a year previously it had stood at 24.54%.<\/p><p class=\"has-text-align-left wp-block-paragraph\"><br><strong>Insurance industry on a very stable footing<\/strong><br>The solvency level of Austrian insurance undertakings has again improved significantly up until the end of the first half of the year: Two thirds of the undertakings have a solvency capital requirement (SCR) of over 200%, i.e. twice as much own funds as required. A year ago only around a half of the undertakings were in such a position. As of 30 June 2021, the average level (median) stood at 221%, compared with 199.29% a year before.<\/p><p class=\"wp-block-paragraph\"><br>The full quarterly report can be found on the FMA website (in German only) at <a href=\"https:\/\/www.fma.gv.at\/versicherungen\/offenlegung\/quartalsberichte\/\">https:\/\/www.fma.gv.at\/versicherungen\/offenlegung\/quartalsberichte\/<\/a><\/p><h2 class=\"wp-block-heading\">Journalists may address further enquiries to:<\/h2><p class=\"wp-block-paragraph\">Klaus Grubelnik (FMA Media Spokesperson):<br>+43\/(0)1\/24959-6006<br>+43\/(0)676\/882 49 516<\/p>\n","protected":false},"excerpt":{"rendered":"<p>premium volume continues to increase, significant increase in result from ordinary activities.<\/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-35333","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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