Market Size of Austria Property & Casualty Insurance Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 5.60 Billion |
| Market Size (2029) | USD 6.92 Billion |
| CAGR (2024 - 2029) | 4.32 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Austria Property & Casualty Insurance Market Analysis
The Austria Property & Casualty Insurance Market size in terms of gross written premiums value is expected to grow from USD 5.60 billion in 2024 to USD 6.92 billion by 2029, at a CAGR of 4.32% during the forecast period (2024-2029).
- The property and casualty insurance market in Austria is an important sector of the country's insurance industry. Property and casualty insurance, also known as non-life insurance, provides coverage for risks associated with property, liability, and other types of losses. The biggest driver of growth in property and casualty insurance is motor vehicle damage insurance, which increased significantly yearly.
- An increase in the number of policies and a shift in prices contributed to the positive change. Third-party liability for motor vehicles increased marginally. The non-motor lines of business also showed moderate growth for the year. Both domestic and international insurance companies serve the property and casualty insurance market in Austria.
- These companies offer a wide range of insurance products and services to individuals, businesses, and other organizations. The insurance market in Austria is regulated by the Financial Market Authority (FMA), which ensures compliance with applicable laws and regulations, including solvency requirements and consumer protection measures.
