Austrian Insurance Industry Shrinks

BusinessEconomy ♦ Published: May 9, 2012; 12:32 ♦ (Vindobona)

Last year, premium income generated by Austrian insurance companies was down by 1.7%. Insurance benefits were up, however.

Austrian Insurance Industry Shrinks / Picture: ©

In total, the Austrian insurance industry recorded a rise in premium income of 1.7% to € 16.45bn. Insurance benefits reached € 12.78bn which is an increase of 8.3% against 2010.

According to recent forecasts, the premium income in 2012 will decline by 0.6% to € 16.34bn. Assets under management totaled € 99.77bn.

The premium volume in the life insurance segment…