In 2019, the Austrian private insurance industry continued the previous year's development with a moderate increase in gross
premium income (+1.6 percent). This development was driven by a dynamic expansion in health (+4.9 percent) and non-life and
accident insurance (+2.9 percent), while revenues in life insurance were down 2.2 percent. The Austrian insurance market followed
the general dynamics in the European Economic Area. Due to the COVID-19 crisis, forecasts for real premium growth in life
insurance will be revised downwards for 2020 and 2021 by around 4 percentage points, and by 1 percentage point in non-life
insurance.
