{"id":119564,"date":"2024-01-22T22:36:18","date_gmt":"2024-01-22T21:36:18","guid":{"rendered":"https:\/\/www.wifo.ac.at\/publication\/119564\/"},"modified":"2024-11-07T05:05:54","modified_gmt":"2024-11-07T04:05:54","slug":"weak-growth-weighs-on-private-insurance-business-in-2013","status":"publish","type":"publication","link":"https:\/\/www.wifo.ac.at\/en\/publication\/119564\/","title":{"rendered":"Weak Growth Weighs on Private Insurance Business in 2013"},"content":{"rendered":"","protected":false},"featured_media":0,"template":"","class_list":["post-119564","publication","type-publication","status-publish","hentry"],"acf":{"subtitle":"","text":"The insurance penetration remained at its low level (5.3 percent) throughout 2013, the consequence of a decline in revenues from life insurance premium payments and below-average growth in the non-life and accident insurance business. With the first contracts falling due and new business moving at a sluggish rate, revenues from payments into state-aided old age insurance continued to fall. Persistently low yields from investment effectively prevented the surplus from investment income to grow inspite of an increase in capital investments. Implementation of the EU's \"Solvency-II\" Directive was postponed to January 2016, although Austria will put into operation some of the measures covered by the second and third pillars of Solvency II already in 2014.","onlinedate":"2014-11-17 12:00:00","lang":"English","publication_series":"","publication_date":"20141101","publication_date_year":"","publication_date_full":false,"publication_num_pages":"","keywords":"[]","jelcodes":"[]","related_publications":"[]","pdf":354389,"zip":null,"link":"","monthly_report":true,"monthly_report_main":false,"monthly_report_volume":"19","monthly_report_pages":"132-141","monthly_report_pages_sort":"132","issue":"14","journal":"WIFO Bulletin","publisher":"","invisible":false,"external":false,"embargo_date":"2014-11-17 12:00:00","types":[50590],"research_groups":[3500],"collaboration":"","persons":[3899],"persons_data":"[{\"personId\":3899,\"personName\":\"Thomas Url\",\"organisationNames\":[]}]","clients":[],"subclients":[],"partners":[],"topics":[],"host_publication_title":"","host_publication_subtitle":"","place_of_publication":"","host_publication_editors":"[]","type_description":"","output_media":"","chapter":"","article_number":"","citations":"{\"apa\":\"<div class=\\\"rendering rendering_researchoutput  rendering_researchoutput_apa rendering_contributiontoperiodical rendering_apa rendering_contributiontoperiodical_apa\\\"><span>Url, T.<\\\/span> (2014). <span>Weak Growth Weighs on Private Insurance Business in 2013<\\\/span>. <span><em>WIFO Bulletin<\\\/em><\\\/span>, <em>19<\\\/em>(14), 132-141. <a onclick=\\\"window.open(this.href, '_blank','noopener,noreferrer'); return false;\\\" href=\\\"https:\\\/\\\/www.wifo.ac.at\\\/wwa\\\/pubid\\\/50684\\\" class=\\\"link\\\"><span>https:\\\/\\\/www.wifo.ac.at\\\/wwa\\\/pubid\\\/50684<\\\/span><\\\/a><\\\/div>\",\"vancouver\":\"<div class=\\\"rendering rendering_researchoutput  rendering_researchoutput_vancouver rendering_contributiontoperiodical rendering_vancouver rendering_contributiontoperiodical_vancouver\\\"><span>Url T<\\\/span>. <span class=\\\"title\\\"><span>Weak Growth Weighs on Private Insurance Business in 2013<\\\/span><\\\/span>. <span>WIFO Bulletin<\\\/span>. 2014 Nov;19(14):132-141.<\\\/div>\",\"bibtex\":\"<div class=\\\"rendering rendering_researchoutput  rendering_researchoutput_bibtex rendering_contributiontoperiodical rendering_bibtex rendering_contributiontoperiodical_bibtex\\\"><div>@misc{791a450b6867401eb213fca5be68ab62,<\\\/div><div>  title    = \\\"Weak Growth Weighs on Private Insurance Business in 2013\\\",<\\\/div><div>  abstract = \\\"The insurance penetration remained at its low level (5.3 percent) throughout 2013, the consequence of a decline in revenues from life insurance premium payments and below-average growth in the non-life and accident insurance business. With the first contracts falling due and new business moving at a sluggish rate, revenues from payments into state-aided old age insurance continued to fall. Persistently low yields from investment effectively prevented the surplus from investment income to grow inspite of an increase in capital investments. Implementation of the EU's {\\\"}Solvency-II{\\\"} Directive was postponed to January 2016, although Austria will put into operation some of the measures covered by the second and third pillars of Solvency II already in 2014.\\\",<\\\/div><div>  keywords = \\\"Private Insurance, Solvency II, Private Retirement Provisions\\\",<\\\/div><div>  author   = \\\"Thomas Url\\\",<\\\/div><div>  note     = \\\"Private Insurance Business 2013\\\",<\\\/div><div>  year     = \\\"2014\\\",<\\\/div><div>  month    = nov,<\\\/div><div>  language = \\\"English\\\",<\\\/div><div>  volume   = \\\"19\\\",<\\\/div><div>  pages    = \\\"132--141\\\",<\\\/div><div>  journal  = \\\"WIFO Bulletin\\\",<\\\/div><p>}<\\\/p><\\\/div>\",\"ris\":\"<div class=\\\"rendering rendering_researchoutput  rendering_researchoutput_ris rendering_contributiontoperiodical rendering_ris rendering_contributiontoperiodical_ris\\\"><p>TY  - GEN<\\\/p><p>T1  - Weak Growth Weighs on Private Insurance Business in 2013<\\\/p><p>AU  - Url, Thomas<\\\/p><p>N1  - Private Insurance Business 2013<\\\/p><p>PY  - 2014\\\/11<\\\/p><p>Y1  - 2014\\\/11<\\\/p><p>N2  - The insurance penetration remained at its low level (5.3 percent) throughout 2013, the consequence of a decline in revenues from life insurance premium payments and below-average growth in the non-life and accident insurance business. With the first contracts falling due and new business moving at a sluggish rate, revenues from payments into state-aided old age insurance continued to fall. Persistently low yields from investment effectively prevented the surplus from investment income to grow inspite of an increase in capital investments. Implementation of the EU's \\\"Solvency-II\\\" Directive was postponed to January 2016, although Austria will put into operation some of the measures covered by the second and third pillars of Solvency II already in 2014.<\\\/p><p>AB  - The insurance penetration remained at its low level (5.3 percent) throughout 2013, the consequence of a decline in revenues from life insurance premium payments and below-average growth in the non-life and accident insurance business. With the first contracts falling due and new business moving at a sluggish rate, revenues from payments into state-aided old age insurance continued to fall. Persistently low yields from investment effectively prevented the surplus from investment income to grow inspite of an increase in capital investments. 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