Austria : Publication of Financial Sector Assessment Program Documentation-Technical Note on Insurance Sector—Regulation, Supervision, Recovery, and Resolution Regime Prospects

Author/Editor:

International Monetary Fund. Monetary and Capital Markets Department

Publication Date:

March 2, 2020

Electronic Access:

Free Download. Use the free Adobe Acrobat Reader to view this PDF file

Summary:

The insurance sector is experiencing low growth, stemming mainly from life business and a prolonged low-interest-rate environment. While the total assets have increased in nominal terms, it has underperformed GDP growth. Some segments, in particular single-premium products in life insurance, are suffering from material declines of premiums. Insurers are coping with the challenges with large-scale mergers domestically and international expansions. The duration gap between asset and liabilities was one of the highest among the European peers. The average guaranteed rates remain high, while the investment returns continue to decline.

Series:

Country Report No. 20/63

Subject:

English

Publication Date:

March 2, 2020

ISBN/ISSN:

9781513535807/1934-7685

Stock No:

1AUTEA2020003

Format:

Paper

Pages:

40

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