Thomas Url, Deutliche Binnenmarkteffekte in der Privatversicherungswirtschaft

WIFO-Monatsberichte, 1999, 72(10), S.705-710
   
In der österreichischen Versicherungswirtschaft sanken im Gefolge des Eintritts in den Binnenmarkt 1998 erstmals die Prämieneinnahmen im gesamten Schaden- und Unfallbereich. Scharfer Wettbewerb war vor allem in der Kfz-Versicherung zu verzeichnen, die Durchschnittsprämie ging 1998 gegenüber dem ersten Jahr des Binnenmarktes (1994) um insgesamt 16,7% zurück. Durch direkte Preiseffekte konnten Konsumenten und Unternehmen, die Versicherungsprodukte als Vorleistungen beziehen, in der Kfz-Versicherung etwa 5,4 Mrd. S an Prämienzahlungen einsparen. Die gesamten Prämieneinnahmen stiegen wegen des unerwartet guten Geschäftsverlaufs in der Lebensversicherung leicht. Trotzdem verringern sich die Versicherungsdichte im Vorjahresvergleich. In der Veranlagungsstrategie österreichischer Privatversicherungen ist erstmals eine markante Umschichtung zu Anteilswerten von Unternehmen festzustellen. Die Rendite versicherungswirtschaftlicher Kapitalanlagen sank im Gefolge der allgemeinen Zinssenkung und der ungünstigen Entwicklung an der Wiener Börse leicht; sie lag aber auch 1998 deutlich über der Sekundärmarktrendite.
 
Online seit: 25.10.1999 0:00
Forschungsbereich:Makroökonomie und europäische Wirtschaftspolitik
Sprache:Deutsch

Single Market Effects Felt by Private Insurance Industry

In 1998, effects emanating from the single European market had a major impact on the private insurance industry in Austria. For the first time, the industry recorded a decline in its revenues from casualty and accident insurance premiums. Price cuts made to survive in the fierce competition for market shares could not be compensated by an increase in the number of new policies. Between 1994 and 1998, the average premium for third-party motor insurance fell by almost 17 percent. Liberalisation of the insurance market first made itself felt in the third-party motor insurance sector and later extended its momentum to other motor insurance products (part comprehensive cover, passenger accident insurance) and, finally in 1997, to casualty insurance in general. According to provisional estimates made by WIFO, motor insurance customers as a result enjoyed savings of about ATS 5.4 billion (1998). Added to this are indirect price effects as a consequence of the modest price increases for insurance products compared to other products and services for everyday needs. Low losses in the past years were used by insurers to extend or at least maintain their market shares. Consumers benefit mainly by being offered low premiums and better services. Whether this strategy can be sustained will, however, depend greatly on the development of claims incurred. Although legislators took a major step towards improving traffic safety by reducing the statutory drunk-driving limit, the rising number of traffic fatalities this year still shows that the measure as such does not guarantee a permanent reduction of traffic accidents. The two other sectors of the private insurance industry went off at different tangents in 1998. Premium revenues from health insurance were slightly down (by 0.1 percent), but the life insurance sector easily overcame the effects of the tax increases caused by the austerity package of 1996, and, at almost 11 percent, achieved an unexpectedly high growth rate. Yet even this line recorded a decline in the number of new policies, although average premiums were up.

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