Forecast: Turnover of Non Life Insurance in Austria

The turnover of non-life insurance in Austria reached 17.3 billion Euros in 2023. Historically, the market experienced a notable increase from 2013 to 2023, achieving a consistent year-on-year growth rate. The highest annual growth rate was observed in 2016, with an increase of 7.95%. Over the last two years, from 2021 to 2023, the growth rate was steady but moderate, averaging around 2.47%. The compound annual growth rate (CAGR) from 2018 to 2023 was recorded at 2.45%, showing a trend of gradual but stable growth.

Future trends indicate that the turnover is expected to continue growing, with forecasted figures reaching 19.14 billion Euros by 2028. The forecasted 5-year CAGR is 1.59%, implying a moderate but positive growth trajectory. Factors to watch include potential market disruptions, regulatory changes, and economic conditions that could affect the rate of growth. Additionally, advancements in digitalization and increased awareness of risk may influence future demand and market expansions.