International Business Important for Austrian Insurers

Professional Services › Insurance ♦ Published: June 21, 2011; 17:22 ♦ (Vindobona)

The Austrian insurance companies recorded moderate growth in the first quarter of the year. More than 50% of their premium income comes from their international business.

International Business Important for Austrian Insurers / Picture: © Vindobona.org

According to the Financial Market Authority’s (FMA) latest report on the insurance industry, Austrian insurance companies achieved a slight premium growth of 0.3% in the first quarter of 2011. Total premium income amounted to € 4.98bn, € 2.62bn or 52.6% of which were generated by the companies’ international subsidiaries.

The underwriting result increased by 12.3% to €…

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