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Axco's insurance market report provides expert analysis, market insight, company performance data and market statistics for the Austrian non-life (property and casualty) market. The detailed report is produced following a visit to the country and interviews with industry professionals working in Austria's insurance sector. Systematic updates are published throughout the cycle, to the latest developments in the Austrian non-life (P&C) market as well as trends by line of business. Axco analysts also report on Austria's economic factors, the local political situation, and sections on climate, operational, and security risks. The report is suitable for insurers, reinsurance companies, brokers and insurance buyers.
The report describes Austrian insurance regulations and requirements, including vital compliance requirements such as if non admitted insurance is permitted in Austria, what are the local rules on licensing and detailing any relevant taxes and charges for the insurer and the insured.
View detailed analysis of local lines of business and sub-classes such as natural hazards, property, construction and machinery breakdown, motor, workers compensation & employers' liability and liability. The report lists the insurance companies operating in Austria, their market share and investigates how much premium is written through the sector’s different distribution channels.
Statistics include five years of non-life (P&C) market performance indicators, including gross written premiums, premium growth, penetration, profitability ratios, and premium by line of business. Company statistics show who are the leading non-life insurance companies in Austria with local company premiums, market share and year on year growth, expense ratios and retentions by line of business.
Historically, Austria has been one of Europe's more conservative markets and, to a large extent, this remains the case in 2020, with insurers and insureds slow to embrace new sales channels and insurance-related technologies. Having said that, with the domestic insurance market largely saturated and little new business emerging, insurance companies have sought to expand their activities into neighbouring countries and in 2020 Austrian insurance groups were involved in 27 in all, with key markets Croatia, Czech Republic, Hungary, Poland, Romania and Slovakia. The Austrian insurance market in summer 2020 was dealing with the impact of ....
This is a brief extract of information; more updated information may be available in the latest published report.
