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Companies on the Austrian insurance market 2011-2018

In 2018, there was a total of 80 domestic insurance companies operating in the Austrian insurance market. The Austrian insurance market employs over 27,000 staff and paid out more than 6.6 billion euros in life insurance benefits in 2018. The latest figures show that the largest insurance group in Austria by market share was the Vien Insurance Group.

Insurance in Europe

In 2017, there were approximately 8.8 thousand insurance companies in Europe. In terms of premiums written, the largest insurance type was Life insurance. Total direct premiums written in Europe amounted to over 1.2 trillion euros in 2017. The average value of claims and benefits paid in Europe differed depending on the insurance type, with the average value of life insurance claims and benefits paid being the highest.

Largest insurance companies

In 2018, the United Kingdom, France and Germany all saw total premiums written on the European insurance market reach more than 200 hundred billion euros. It may be somewhat unsurprising then to find that in terms of total assets the UK and France account for 5 of the top ten insurance companies in Europe. In terms of market value, UK headquartered companies accounted for 5 of the top nine life and health insurance companies in Europe.

Number of companies operating on the insurance market in Austria from 2011 to 2018

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Source

Release date

August 2020

Region

Austria

Survey time period

2011 to 2018

Supplementary notes

Domestic market: the reported numbers for Domestic companies with the head office in the country and Branches of non-EU/EEA companies operating on the market.

Total market includes: Companies operating on the domestic market, Branches of EU/EEA companies established in the country and companies operating in the country through FOS.

Only domestic figures reported.

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