Forecast: Value Added of Insurance, Reinsurance and Pension Funding in Austria

The value-added of insurance, reinsurance, and pension funding in Austria increased from €2.94 billion in 2013 to €4.20 billion in 2023, showcasing steady growth except for minor fluctuations. Significant year-on-year variations include a decline of -7.15% in 2014, followed by a recovery of 10.07% in 2015. The period from 2016 to 2023 witnessed a consistent upward trend, with the CAGR for the last five years at 3.07%. Forecast data from 2024 to 2028 indicates continued growth, with a predicted average annual growth rate (CAGR) of 2.26%, and an overall increase of 11.84% during these years.

Future trends to watch for:

- Technological advancements in the insurance sector, including the adoption of AI and blockchain.

- Increasing importance of sustainability and ESG criteria in investment strategies.

- Changes in regulatory frameworks impacting pension funds and reinsurance markets.

- Demographic shifts influencing demand for insurance and pension products.