{"id":36547,"date":"2021-12-14T10:36:44","date_gmt":"2021-12-14T09:36:44","guid":{"rendered":"https:\/\/www.fma.gv.at\/fma-bericht-zum-3-quartal-2021-der-oesterreichischen-versicherungswirtschaft-praemienvolumen-496-finanzergebnis-und-egt-stark-verbessert\/"},"modified":"2022-12-14T12:26:32","modified_gmt":"2022-12-14T11:26:32","slug":"fma-q3-2021-report-on-the-austrian-insurance-sector-premium-volume-4-96-financial-result-and-result-from-ordinary-activities-improve-strongly","status":"publish","type":"post","link":"https:\/\/www.fma.gv.at\/en\/fma-q3-2021-report-on-the-austrian-insurance-sector-premium-volume-4-96-financial-result-and-result-from-ordinary-activities-improve-strongly\/","title":{"rendered":"FMA Q3 2021 Report on the Austrian Insurance Sector: Premium Volume + 4.96%, Financial result and result from ordinary activities improve strongly"},"content":{"rendered":"<?xml encoding=\"utf-8\" ?><p class=\"wp-block-paragraph\">In the third quarter of 2021, Austrian insurance undertakings &ndash; compared to the corresponding period in the previous year &ndash; observed an increase in premium volume by +4.96% to &euro;&nbsp;4.58 billion. More than half, some &euro; 2.69 billion (+5.94%), originate from non-life\/accident insurance. With premiums of &euro; 1.27 billion, there was an increase of 3.94% in life insurance, while health insurance increased by +2.93 % with a volume of &euro; 625 million. During the first three quarters of the year premiums written stood at &euro; 15.22 billion in total, an increase of +2.84% compared to the corresponding period last year. These premiums are made up of &euro; 9.33 bn (+3.88%) in non-life\/accident insurance, &euro; 3.97 bn (+0.02%) in life insurance and &euro; 1.89 bn (+3.25%) in health insurance. These findings have emerged from the Report on the Austrian Insurance Sector for the third quarter of 2021, which was published today by the Austrian Financial Market Authority (FMA).<\/p><h2 class=\"wp-block-heading\">Financial result and result from ordinary activities increased strongly<\/h2><p class=\"wp-block-paragraph\">The technical result fell during in the first nine months of 2021 in comparison to those for the previous year by -10.12% to &euro; 529.60 million. However, Austria&rsquo;s insurance industry was able to report an increase by +56.56% to &euro; 2.28 billion in financial result. This results in a increase of +55.12% to &euro; 1.43 billion in the result from ordinary activities, compared to &euro; 924.5 million for the first three quarters of 2020. 86.8% of EGT is obtained from non-life\/accident insurance, 3.4% from life insurance and 9.8% from health insurance. The operating margin, ie. the ratio of EGT to premiums, stood at 9.72% during the first three quarters, 330 basis points more than for the comparable period in 2020. Hidden net reserves (the balance of net reserves and net losses) stood at &euro; 23.83 billion at the end of the 3rd quarter, a decrease by -0.54% compared to the preceding quarter.<strong> <\/strong><\/p><h2 class=\"wp-block-heading\">Solvency remains stable<\/h2><p class=\"wp-block-paragraph\">More than two thirds (69.7%) of all insurance undertakings were able at the end of the third quarter 2021 to post a solvency capital level (SCR &ndash; Solvency Capital Requirement) in accordance with the Insurance Supervision Act 2016 (VAG 2016) of over 200%, i.e. having more than twice as high own funds than required.<\/p><p class=\"wp-block-paragraph\">The full quarterly report can be found online (in German only) on the <a href=\"https:\/\/www.fma.gv.at\/versicherungen\/offenlegung\/quartalsberichte\/\">FMA website<\/a>.<\/p><h2 class=\"wp-block-heading\">Journalists may address further enquiries to:<\/h2><p class=\"wp-block-paragraph\">Klaus Grubelnik (FMA Media Spokesperson)<\/p><p class=\"wp-block-paragraph\">+43 \/ (0) 1 \/ 24959-6006<\/p><p class=\"wp-block-paragraph\">+43 \/ (0) 676 \/ 88 249 516<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Premium Volume + 4.96%, Financial result and result from ordinary activities improve strongly<\/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-36547","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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