{"id":39177,"date":"2022-06-01T10:47:44","date_gmt":"2022-06-01T08:47:44","guid":{"rendered":"https:\/\/www.fma.gv.at\/fma-bericht-zum-1-quartal-2022-der-oesterreichischen-versicherungswirtschaft-anstieg-des-praemienvolumens-rueckgang-des-egt\/"},"modified":"2022-06-01T14:54:55","modified_gmt":"2022-06-01T12:54:55","slug":"fma-q1-2022-report-on-the-austrian-insurance-sector-increase-in-premium-volume-fall-in-earnings-from-ordinary-activities","status":"publish","type":"post","link":"https:\/\/www.fma.gv.at\/en\/fma-q1-2022-report-on-the-austrian-insurance-sector-increase-in-premium-volume-fall-in-earnings-from-ordinary-activities\/","title":{"rendered":"FMA Q1 2022 Report on the Austrian Insurance Sector: increase in premium volume, fall in earnings from ordinary activities"},"content":{"rendered":"<?xml encoding=\"utf-8\" ?><p class=\"wp-block-paragraph\">Austrian insurance undertakings increased their premium volume in the first quarter of 2022 by +6.96 % to &euro; 6.26 billion compared with the first quarter of 2021. The result from ordinary activities (German: EGT; Ergebnis der gew&ouml;hnlichen Gesch&auml;ftst&auml;tigkeit) fell during this period by &euro; 220.21 million to &euro; 102.21 million. The was attributable to the fact that the technical result fell by &euro; 191.82 million (-88.97%) to &euro; 23.78 million, while the financial result fell by &euro; 259.73 million (-48.47%) to &euro; 276.18 million. The total of all assets at market values (excluding investments from unit-linked and index-linked life insurance)<strong> <\/strong>stood at &euro;<strong>&nbsp;<\/strong>111.87 billion as at 31 March 2022, a decrease by &euro; 4.81 billion or -4.1% compared with the year-end values for 2021 due to the turbulence of the capital markets as a consequence of Russia&rsquo;s war of aggression against its neighbour Ukraine<strong>.<\/strong>These are the findings of the Austrian Financial Market Authority&rsquo;s (FMA) &ldquo;Q1 2022 Quarterly Report &ndash; Insurance Undertakings&rdquo;, which was published today.<\/p><h3 class=\"wp-block-heading\">Fall in earnings, but capital basis remains good<\/h3><p class=\"wp-block-paragraph\">Broken down by insurance classes, the volume of premiums for non-life and accident insurance increased by +8.34% to &euro; 4.11 billion, while the volume of premiums for life insurance increased by +4.1% to &euro; 1.48 billion, and those of health insurance increased by +5.12% to &euro; 671 million; these values are compared with those for the 1st quarter of 2021. Claims incurred stood at &euro; 3.98 billion during the reporting period, which corresponds to an increase of 2.21% compared to the corresponding quarter of the previous year.<\/p><p class=\"wp-block-paragraph\">The yield on turnover (result on ordinary activities to premiums) is a significant indicator of earning capacity, and fell by 467 basis points, nevertheless remaining positive at +1.99%.<\/p><p class=\"wp-block-paragraph\">The capital base of insurance undertakings remained good: during the reporting period 67% of undertakings had a solvency capital ratio (SCR) of in excess of 200%, meaning that they had twice as high financial means as was necessary to fulfil all commitments. However, the hidden reserves of capital investments (excluding those of funds and index-based life insurance) on a quarter-by-quarter basis fell by -19.86% to &euro;&nbsp;19.34&nbsp;billion. At the end of the reporting period the reserve ratio therefore stood at<strong> <\/strong>20.58%<strong>.<\/strong><\/p><p class=\"wp-block-paragraph\">The full quarterly report can be found on the FMA website (in German only) on the page on <a href=\"https:\/\/www.fma.gv.at\/versicherungen\/offenlegung\/quartalsberichte\/\">FMA Quarterly Reports<\/a><\/p><h3 class=\"wp-block-heading\">Journalists may address further enquiries to:<\/h3><p class=\"wp-block-paragraph\">Klaus Grubelnik<\/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>increase in premium volume, fall in earnings 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-39177","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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