Austrian Insurance Market
In Austria the top 5 insurance groups in the country in the 1st to 3rd quarter 2025 generated approximately 71% of the gross written premiums. The two largest insurance groups contributed around 44%.
Market development 1st to 3rd quarter 2025 compared to the previous year
9M 2025 figures
In the 1st to 3rd quarter of 2025, the Austrian insurance industry generated a total of EUR 17.3 billion gross written premiums. Compared to the previous year this corresponds to an increase of approximately 4.6%, which is primarily attributable to the positive development of health insurance as well as of property and casualty insurance.
In the 1st to 3rd quarter 2025 an increase of 5.0% in the property and casualty insurance was recorded year-on-year. The motor vehicle insurance contributed with an increase in the gross written premiums of 6.1%, which is especially attributable to the increased price levels. The premiums in the motor third party liability insurance grew by 4.7%, in the motor own damage insurance (Casco) by 8.3%. The premiums in the non-motor lines of business grew by 4.5% in the 1st to 3rd quarter 2025.
In life insurance a moderate increase in gross written premiums of 1.2% was recorded in the 1st to 3rd quarter 2025. While the income from regular-premium life insurance declined slightly by 1.8% year-on-year, a double-digit gain of 22.5% was recorded in single-premium life insurance. Unit- and index-linked life insurance also recorded an increase of 6.1% year-on-year. In income protection insurance, which is also classified as life insurance, premium income fell significantly with a decrease of 8.4%. Endowment insurance, which constitutes the largest share of life insurance, also recorded a decline of 6.3%. The gross written premiums in the health insurance developed positively with an increase of 8.5% year-on-year.
According to internal calculations based on data from the International Monetary Fund (IMF) and the Austrian Insurance Association (VVO), in 2024 an average of EUR 2,322 per capita was spent for insurance in Austria. Of which the non-life sector accounted for EUR 1,755 and life insurance accounted for EUR 568.
Market share of the largest insurance groups
Per cent of total premium volume
VIG companies in Austria
Vienna Insurance Group is represented by the two insurance companies Wiener Städtische and Donau Versicherung in Austria. s Versicherung, which was merged with Wiener Städtische in 2018, continues to exist as a brand for bancassurance customers. Wiener Städtische also operates via a branch in Slovenia. The branch in Italy was closed in 2024 for regulatory reasons.
VIG Holding operates out of Austria as a reinsurer of the Group and an insurer in the cross-border corporate business. In addition, since 2019 it operates via branches in the Northern European countries of Sweden, Norway and Denmark in the traditional industrial insurance business. VIG Holding is assigned to the segment Group Functions.
The VIG insurance companies are the leading insurance group in Austria with a market share of 22.9% in the 1st to 3rd quarter 2025. In property and casualty insurance and in life insurance it holds first market rankings, in the health insurance business it takes third place.
Financial performance indicators in the reportable segment Austria
Insurance service revenue
The insurance service revenue in the year 2025 amounted to EUR 3,747.7 million (2024: EUR 3,543.2 million). This corresponds to an increase of 5.8%. This is due in particular to the positive development in non-life insurance (accounted for using the Premium Allocation Approach) and health insurance (accounted for using the Variable Fee Approach).
Insurance service revenue by line of business
Result before taxes
The result before taxes in the segment Austria amounted to EUR 434.5 million in 2025 (2024: EUR 336.1 million). This corresponds to an increase of 29.3%. This positive development is mainly due to the improved combined ratio.
Net combined ratio
The net combined ratio in 2025 was 90.3% (2024: 92.5%). The improvement is mainly due to a more favourable claims development as a result of lower weather-related claims (previous year: storm “Boris”).