Weak Development for Austrian Private Insurers

Professional ServicesInsurance ♦ Published: November 1, 2011; 13:19 ♦ (Vindobona)

After a substantial growth in 2010, this year shows only a slight upward trend for the insurance industry. The outlook however is rather pessimistic.

Weak Development for Austrian Private Insurers / Picture: © Vindobona.org

The premium income is traditionally less volatile than the business cycle. After a stagnation in 2009 and a strong rise in 2010, this year will bring only slight growth rates.

In 2010, premium income could rise substantially, but it remained below the economic growth rate. Financial results contributed to profits as well as operating profits did. For 2012, the insurance expects a…