Austrian life segment's written premium fell from EUR7.4 billion in 2008 to EUR6.5 billion in 2012

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.

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

Full Report Details at
- http://www.fastmr.com/prod/690089_life_insurance_in_austria_key_trends_and.aspx?afid=302

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

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