Wien. The premium volume of Austrian insurers is increasing slightly, although not in all sectors. However, the earnings situation is improving significantly, according to the FMA.
Austrian insurance companies increased their premium income by +4.68% to €5.36 billion in the second quarter of 2023 compared to the second quarter of 2022, according to the current FMA report. This increase is distributed across the individual insurance lines as follows:
- Property/casualty: +9.13% to €3.38 billion.
- Life insurance: -7.69% to €1.26 billion.
- Health insurance: +9.36% to €717 million.
In the first half of the year as a whole, the premium volume rose to €11.89 billion (+€500 million or +4.48% year-on-year), with property and casualty insurance increasing by +8.79% to €7.84 billion. increased, life insurance fell by -7.69% to €2.62 billion and health insurance increased by +7.02% to €1.42 billion.
“Significantly improved earnings situation”
The underwriting result improved – compared to the same period last year – by €185.72 million in the entire first half of the year, and the financial result by €645.17 million. As a result, the result from ordinary business activities (EGT) increased significantly in this period by €426.70 million to €986.44 million (+76.23%).
The total of all assets at market value (excluding investments in unit-linked and index-linked life insurance) of the insurance companies was around €105 billion at the middle of the year, around €1 billion lower than the year before, but around €2 billion higher than in the previous year End of year 2022.
Ups and downs in capital investments
The hidden reserves of investments (excluding unit- and index-linked life insurance), which fell from €24.1 billion to €10.8 billion from the end of 2021 to the end of the fourth quarter of 2022 – a loss of €13.3 billion . or -55.2% -, rose again for the second quarter in a row, to around € 12.04 billion, according to the FMA. The reserve ratio was therefore 12.80% at the end of the reporting period; a year before that it was 14.8%, two years before that it was 25.5%.
In principle, the solvency of Austrian insurance companies remains very stable, according to the FMA report for the second quarter. Around nine out of ten insurance companies (87.88%) had an SCR solvency ratio of over 200% at the middle of the year, i.e. they had twice as much capital as required; significantly higher than a year before with 69.7%. The average value (median) on June 31, 2023 was 257.20% (mid-year 2022: 230.56%; 2021: 221%; 2020: 199.29%).
2023-09-12 15:03:05
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