Forecast: Insurance, Reinsurance and Pension Funding Output in Austria

The insurance, reinsurance, and pension funding output in Austria has experienced some fluctuations over the past decade. From 2013 to 2019, the sector saw a mix of rises and dips, with a notably strong year in 2019, boasting a robust year-on-year growth of 7.23%. However, 2020 saw a decline of 3.27%, which was quickly offset by an 8.55% increase in 2021. By 2023, the industry had recovered, registering a value of 8.43 billion Euros.

Year-on-year variations over the last two years were relatively moderate, with an increase of 2.46% in 2022 and a 1.52% increase in 2023. The compound annual growth rate (CAGR) for the past five years stands at 3.21%, indicating steady expansion.

Looking ahead, the projected data suggests a continued upward trajectory with values expected to rise consistently, reaching 9.26 billion Euros by 2028. The forecasted 5-year CAGR is moderate at 1.5%, translating to a total growth rate of 7.75% over the same period.

Future trends to watch for include advancements in digital insurance solutions, regulatory changes that may impact the market structure, and the increasing importance of sustainability and ESG factors in underwriting and investment decisions.