Austria

The Austrian insurance market is very well developed. Unlike many other Western European countries, however, more premiums are achieved in the non-life segment than in the life segment. In 2010 Austrian insurers generated an increase of about 2% in the overall market. This growth was mainly carried by the single premium business and selected classes of property and casualty insurance.

The Vienna Insurance Group further expanded its market leadership in 2010 and is the clear number 1 in Austria, with a market share of 24.1%. In addition, the Vienna Insurance Group undisputedly ranked first both in property and casualty insurance, with a market share of 20.8%, and in life insurance, with a market share of 28.3%.