Life Insurance & Pension in Austria
Summary
Life Insurance & Pension in Austria industry profile provides top-line qualitative and quantitative summary information including: market size (value 2018-23, and forecast to 2028). The profile also contains descriptions of the leading players including key financial metrics and analysis of competitive pressures within the market.
Key Highlights
- Life insurance & pension is the financial cover for a contingency linked with human life, like death, disability, accident, retirement etc. Human life is subject to risks of death and disability due to natural and accidental causes. When human life is lost or a person is disabled permanently or temporarily, there is loss of income to the household.
- The Austrian life insurance & pension market recorded gross written premiums of $5.6 billion in 2023, representing a negative compound annual growth rate (CAGR) of 3.4% between 2018 and 2023.
- The life insurance segment accounted for the market's largest proportion in 2023, with total gross written premiums of $4.6 billion, equivalent to 83.4% of the market's overall value.
- The significant drop in GDP growth has created more uncertainty for consumers about their financial security. For instance, according to Statistics Austria, the real GDP annual growth of Austria stood at negative 1.0% in 2023, as compared to 5.3% in 2022. This negative economic outlook has discouraged consumers from spending more on financial protection and retirement planning.
- Save time carrying out entry-level research by identifying the size, growth, major segments, and leading players in the life insurance & pension market in Austria
- Use the Five Forces analysis to determine the competitive intensity and therefore attractiveness of the life insurance & pension market in Austria
- Leading company profiles reveal details of key life insurance & pension market players’ global operations and financial performance
- Add weight to presentations and pitches by understanding the future growth prospects of the Austria life insurance & pension market with five year forecasts
- What was the size of the Austria life insurance & pension market by value in 2023?
- What will be the size of the Austria life insurance & pension market in 2028?
- What factors are affecting the strength of competition in the Austria life insurance & pension market?
- How has the market performed over the last five years?
- What are the main segments that make up Austria's life insurance & pension market?
- 1 Executive Summary
- 1.1. Market value
- 1.2. Market value forecast
- 1.3. Category segmentation
- 1.4. Geography segmentation
- 1.5. Market share
- 1.6. Market rivalry
- 1.7. Competitive landscape
- 2 Market Overview
- 2.1. Market definition
- 2.2. Market analysis
- 3 Market Data
- 3.1. Market value
- 4 Market Segmentation
- 4.1. Category segmentation
- 4.2. Geography segmentation
- 5 Market Outlook
- 5.1. Market value forecast
- 6 Five Forces Analysis
- 6.1. Summary
- 6.2. Buyer power
- 6.3. Supplier power
- 6.4. New entrants
- 6.5. Threat of substitutes
- 6.6. Degree of rivalry
- 7 Competitive Landscape
- 7.1. Market share
- 7.2. Who are the leading players?
- 7.3. What are the strategies of the leading players?
- 7.4. What are the strengths of the leading players?
- 8 Company Profiles
- 8.1. Vienna Insurance Group AG
- 8.2. UNIQA Insurance Group AG
- 8.3. Allianz SE
- 8.4. Assicurazioni Generali SpA
- 9 Macroeconomic Indicators
- 9.1. Country data
- 10 Appendix
- 10.1. Methodology
- 10.2. Industry associations
- 10.3. Related MarketLine research
- 10.4. About MarketLine
- List of Tables
- Table 1: Austria life insurance & pension market value: $ billion, 2018-23
- Table 2: Austria life insurance & pension market category segmentation: % share, by value, 2018-23
- Table 3: Austria life insurance & pension market category segmentation: $ billion, 2018-23
- Table 4: Austria life insurance & pension market geography segmentation: $ billion, 2023
- Table 5: Austria life insurance & pension market value forecast: $ billion, 2023-28
- Table 6: Austria life insurance & pension market share: % share, by value, 2023
- Table 7: Vienna Insurance Group AG: Key Facts
- Table 8: Vienna Insurance Group AG: Annual Financial Ratios
- Table 9: Vienna Insurance Group AG: Key Employees
- Table 10: UNIQA Insurance Group AG: Key Facts
- Table 11: UNIQA Insurance Group AG: Annual Financial Ratios
- Table 12: UNIQA Insurance Group AG: Key Employees
- Table 13: Allianz SE: Key Facts
- Table 14: Allianz SE: Annual Financial Ratios
- Table 15: Allianz SE: Key Employees
- Table 16: Allianz SE: Key Employees Continued
- Table 17: Assicurazioni Generali SpA: Key Facts
- Table 18: Assicurazioni Generali SpA: Annual Financial Ratios
- Table 19: Assicurazioni Generali SpA: Key Employees
- Table 20: Assicurazioni Generali SpA: Key Employees Continued
- Table 21: Austria Size of Population (million), 2019-23
- Table 22: Austria Real GDP (Constant 2010 Prices, $ Billion), 2019-23
- Table 23: Austria GDP (Current Prices, $ Billion), 2019-23
- Table 24: Austria Inflation, 2019-23
- Table 25: Austria Consumer Price Index (Absolute), 2019-23
- Table 26: Austria Exchange Rate, 2018-23
- List of Figures
- Figure 1: Austria life insurance & pension market value: $ billion, 2018-23
- Figure 2: Austria life insurance & pension market category segmentation: $ billion, 2018-23
- Figure 3: Austria life insurance & pension market geography segmentation: % share, by value, 2023
- Figure 4: Austria life insurance & pension market value forecast: $ billion, 2023-28
- Figure 5: Forces driving competition in the life insurance & pension market in Austria, 2023
- Figure 6: Drivers of buyer power in the life insurance & pension market in Austria, 2023
- Figure 7: Drivers of supplier power in the life insurance & pension market in Austria, 2023
- Figure 8: Factors influencing the likelihood of new entrants in the life insurance & pension market in Austria, 2023
- Figure 9: Factors influencing the threat of substitutes in the life insurance & pension market in Austria, 2023
- Figure 10: Drivers of degree of rivalry in the life insurance & pension market in Austria, 2023
- Figure 11: Austria life insurance & pension market share: % share, by value, 2023
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