Forecast: Production Value of Life Insurance in Austria

The production value of life insurance in Austria has consistently declined from 2013 to 2023, starting at 1.74 billion euros in 2013 and dropping to 0.7562 billion euros in 2023. This trend is marked by significant year-on-year variations, such as a 36.11% drop in 2016 and a notable 28.49% increase in 2020. For context, the value in 2023 was a decline of 8.78% from the previous year, indicating a continuation of the overall downward trend. The Compound Annual Growth Rate (CAGR) for the last five years was -1.45%.

Looking forward into the forecasted period through 2028, the production value is expected to continue its decline, with a five-year CAGR forecasted at -10.04%, leading to an overall reduction in production value by 41.09% by 2028. This projected decline suggests ongoing challenges in the life insurance sector, likely influenced by market conditions, regulatory changes, and consumer behavior.

Future trends to watch for:

• Regulatory impacts on life insurance products.
• Shifts in consumer preferences and demand for alternative financial products.
• Technological advancements and digital transformation in the insurance industry.
• Macroeconomic factors affecting disposable income and life insurance affordability.
• Impact of aging population and changes in demographic structures.