Recently published research from Timetric, "Life Insurance in Austria, Key Trends and Opportunities to 2017: The Austrian life segment's written premium fell from EUR7.4 billion in 2008 to EUR6.5 billion in 2012.", is now available at Fast Market Research

Boston, MA -- (SBWire) -- 10/21/2013 --In terms of gross written premium, Austrian life insurance was the second-largest segment, behind non-life, in the Austrian insurance industry during the review period. The segment accounted for industry shares of 45.0%, 42.3% and 39.8% in 2010, 2011 and 2012 respectively. The segment fell from being the leading insurance segment in 2011 to the second-largest in 2012. In terms of value, the Austrian life segment's written premium fell from EUR7.4 billion (US$10.8 billion) in 2008 to EUR6.5 billion (US$8.4 billion) in 2012, at a review-period CAGR of -3.1%. This was mainly due to the rapid decline of single-premium life insurance products following changes to lock-in periods, which increased from 10 to 15 years.

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Key Highlights

- The Austrian life segment's industry share fell during the review period from 45.3% in 2008 to 39.8% in 2012
- The increase in minimum lock-in periods had an adverse impact on single-premium business, which declined by 32.9% in 2011 and 6.4% in 2012
- The reduction of government subsidies on government-sponsored pension plans reduced demand for life insurance products in Austria
- Austria has one of the fastest-aging populations in the EU, which will create growth opportunities for the life segment over the forecast period
- Austria's life insurance segment is highly concentrated with the 10 leading insurers accounting for 76.9% of the segment's total gross written premium in 2012

Scope

This report provides a comprehensive analysis of the life insurance segment in Austria:

- It provides historical values for Austria's life insurance segment for the report's 2008-2012 review period and forecast figures for the 2012-2017 forecast period
- It offers a detailed analysis of the key sub-segments in Austria's life insurance segment, along with market forecasts until 2017
- It covers an exhaustive list of parameters, including written premium, incurred loss, loss ratio, commissions and expenses, combined ratio, frauds and crimes, total assets, total investment income and retentions
- It analyses the various distribution channels for life insurance products in Austria
- Using Porter's industry-standard "Five Forces" analysis, it details the competitive landscape in Austria for the life insurance business
- It provides a detailed analysis of the reinsurance segment in Austria and its growth prospects
- It profiles the top life insurance companies in Austria and outlines the key regulations affecting them

Reasons to Get This Report

- Make strategic business decisions using in depth historic and forecast market data related to the Austrian life insurance segment and each category within it
- Understand the demand-side dynamics, key market trends and growth opportunities within the Austrian life insurance segment

Companies Mentioned in this Report: Sparkassen Versicherung AG Vienna Insurance Group, Wiener Stadtische Versicherung AG Vienna Insurance Group, Generali Versicherung AG, FinanceLife Lebensversicherung AG, Raiffeisen Versicherung AG, Allianz Elementar Lebensversicherungs AG, Bank Austria Creditanstalt Versicherung AG, Uniqa Osterreich Versicherungen AG, Wustenrot Versicherungs-AG, Donau Versicherung AG Vienna Insurance Group

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