Premium revenues of the Austrian private insurance companies recently followed the business cycle profile only to a limited extent. Having stagnated in the recession year 2009, premium revenues rebounded in 2010 at a rate below nominal GDP growth. For 2011, the industry expects a slight deceleration of revenue growth, whereas latest surveys conducted by WIFO suggest an even weaker dynamic. Together with higher returns on investment, earnings from the technical accounts improved and operating results were raised markedly.