Austria: Publication of Financial Sector Assessment Program Documentation—Technical Note on Insurance Sector

International Monetary Fund

No 2014/014, IMF Staff Country Reports from International Monetary Fund

Abstract: This Technical Note provides an update on the Austrian insurance industry and an analysis of its regulatory and supervisory regime. The structure of the domestic insurance sector has remained largely stable since the last update. At Q3-2012 there were 50 insurance companies with assets of €108 billion, making up nearly 40 percent of GDP. Although insurance portfolios are largely concentrated in high-quality bonds, they have significant exposure to European banks. Most insurance companies in Austria appear well capitalized under the Solvency I regime. The industry remains profitable though margins have come under some pressure recently.

Keywords: ISCR; CR; insurer; life insurer; industry; life insurance; premium; FMA department; FMA issues regulation; originating insurer; insurance market; insurance supervisor; Insurance companies; Insurance; Solvency; Stress testing; Insurance supervision (search for similar items in EconPapers)
Pages: 17
Date: 2014-01-21
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