June 24th, 2021 – 62.6 percent including motor vehicles, 63.5 percent excluding motor vehicles – that was the total loss rate in Austria’s insurance industry in 2020 in non-life insurance. Among the sub-divisions identified by the VVO, the amount varies greatly, the spectrum ranges from around 30 to over 200 percent.
The claims ratio is one of the key indicators in the insurance industry. It indicates the relationship between insurance benefits and earned premiums.
According to data from the Insurance association (VVO) for the entire industry to 62.6 percent. This results from a premium of 9.003 billion euros and benefits amounting to 5.639 billion euros.
If you take the motor vehicle business out of the equation, it was 63.5 percent: € 5.323 billion in premiums compared to € 3.380 billion in benefits.
The trend over the past seven years
Looking back over the past seven years – see the chart below – there is, by and large, a downward trend.
However, the year 2017 catches the eye. The “outlier” has to do with the fact that natural events at that time caused a lot of effort (VersicherungsJournal 8.3.2018)
Car insurance
A look at motor vehicle insurance: In 2020, this resulted in a total damage rate of 61.4 percent, with 3.680 billion euros in premiums and 2.259 billion euros in benefits.
The decline that last year brought is noticeable, both in liability (from 67.3 to 59.3 percent) and in comprehensive insurance (to 74.6 to 65.5 percent).
The third motor vehicle sub-division, motor vehicle accident insurance, is not included in the graphic below. In recent years, the claims ratio here has mostly ranged between around three and a half and around six percent. In 2020 it was 3.4 percent (58 million euros premium, two million euros in benefits).
16 sub-divisions
Non-life insurance comprises a number of sub-segments. The range of damage rates is just as wide: In 2020, it ranged from 30.5 percent in burglary / theft to 217.5 percent in the fire BU under the sub-categories individually identified by the VVO.
In some cases, the damage rates can be quite volatile from year to year. In the fire BU, for example, the loss rate in 2018 was a much lower 78.8 percent, while the machine BU came to 125.3 percent.
In the table below you will find the loss rates for 2020, sorted in descending order, including information on premiums and benefits and, for comparison, the loss rates for 2019 and 2018.
|
Sub-division |
Prä-mien * |
Leis- |
Claims ratio in percent |
||
|---|---|---|---|---|---|
|
2020 |
2019 |
2018 |
|||
|
Fire bu |
80 |
174 |
217,5 |
126,3 |
78,8 |
|
Machine BU |
9 |
7 |
80,6 |
90,7 |
125,3 |
|
tap water |
578 |
523 |
90,4 |
86,6 |
90,0 |
|
Storm damage |
399 |
333 |
83,4 |
83,8 |
59,4 |
|
Fire industry |
340 |
247 |
72,7 |
38,8 |
63,1 |
|
Transport |
160 |
114 |
71,1 |
63,1 |
77,4 |
|
General liability |
934 |
633 |
67,7 |
59,5 |
62,8 |
|
Fire, civil, agr. |
447 |
302 |
67,5 |
83,6 |
66,3 |
|
Vehicle |
3.680 |
2.259 |
61,4 |
69,7 |
70,9 |
|
aviation |
6 |
3 |
57,8 |
130,5 |
81,3 |
|
Glass breakage |
70 |
38 |
53,8 |
39,2 |
35,1 |
|
machinery |
138 |
69 |
50,2 |
41,0 |
51,9 |
|
Credit |
125 |
56 |
44,8 |
41,2 |
44,1 |
|
Legal protection |
655 |
289 |
44,1 |
40,7 |
41,4 |
|
household |
762 |
257 |
33,7 |
34,4 |
37,1 |
|
Burglary / theft |
91 |
28 |
30,5 |
25,2 |
31,2 |
|
Others |
526 |
307 |
58,4 |
55,2 |
54,9 |
|
Total without vehicle |
5.323 |
3.380 |
63,5 |
58,1 |
57,9 |
|
Total with vehicle |
9.003 |
5.639 |
62,6 |
62,8 |
63,2 |
– .
