Promoted and relegated in five divisions

May 11, 2022: Wiener Städtische will reduce its market share in life insurance in 2021, but will remain in the number one segment. The same applies to Uniqa in health and non-life insurance. However, the top field in the claims division is very tight. In accident insurance, Uniqa can extend its leadership in the market. In the motor vehicle subdivision, Generali defended the first place despite the decline; Uniqa, however, is still hot on its heels, also despite the decline.

Street arrows (Image: Christian Riedel/Pixelio.de)
Image: Christian Riedel/Pixelio.de

In 2021, Austrian insurers earned €18.649 billion (+3.4 percent compared to 2020) in premiums written in direct domestic business. We reported in the Tuesday edition (VersicherungsJournal May 10, 2021) which company was involved and how much.

Data from the Insurance Association (VVO) also shows how market shares break down by line of business. In addition to the 2021 figures, the following tables also contain the previous five years so that longer-term trends can be better identified.

Please note: Breaking changes are due in part to mergers. Corresponding comments can be found in the tables.

life insurance

In 2021, the amount of the premium in life insurance grew by 0.6 percent compared to the previous year to 5,432 million euros.

Wiener Städtische remains the undisputed market leader, but the upward trend of 2019 and 2020 has stopped: at 22.86%, the market share is 1.46 percentage points lower than in 2020.

Uniqa, in second place, has already lost shares in 2019 and 2020, and again by 0.36 points in 2021. Thus, it comes to 17.21 percent and is still far behind third place.

The number 3, Generali, meanwhile, can gain 0.30 points and thus reduce the difference somewhat. It is now scraping the 12 percent mark.

Life Insurance Market Shares (Top 16 of 2021)

#

business

+/–

2021

2020

2019

2018

2017

2016

one.

Wr. Urban V

22.86

24.32

23.74

23.13¹

11.56

11.69

two.

Uniqa Ost. Verse.

17:21

17.57

17.93

18:23

18:13

18.07²

3.

overall verse

+

11.98

11.68

10.99

11.01

10.46

10.20³

Four.

ergo verse

+

7.68

7.60

7.96

8:15

7.90

8.94

5.

Life Alliance Element

+

7.08

6.83

7.01

6.66

6.60

6.46

6.

desert red verse

+

4.68

4.48

4.51

4.74

4.87

4.70

7.

Bawag PSK version.

+

3.65

3.51

3.84

3.78

3.74

3.78

8th

Danube Verse

3.57

3.63

3.84

3.64

3.69

3.70

9.

Helvetia vers.

+

3.30

2.84

2.76

3.27

3.47

3.32

10

Grazer We. Verse.

+

2.95

2.72

2.60

2.45

2.30

2:19

eleven

this official verse

+

2.93

2.78

2.83

2.68

2.66

2.66

12

Zurich Vers.

+

2.52

2.40

2.41

2.68

3.41

2.43

13

Nuremberg Verse.

2.03

2.07

1.98

1.91

1.80

1.69

14

this superior Verse.

1.89

1.92

1.95

1.94

1.91

1.87

fifteen

HDI life insurance

+

1.55

1.45

1.37

1.29

1.23

1:17

sixteen

FWU Vida Ins. Austria

1.32

1.42

1.53

1.66

1.85

2.01

health insurance

In health insurance, there were 2,491 million euros in premiums (+3.7 percent) to be distributed, after the entry of Ergo Versicherung among nine companies.

Here, too, Uniqa has to give a bit. The 0.42 point loss is, of course, at a high level: the company still covers almost half of the market with 44.11 percent.

Merkur, in second place since 2020, can continue to expand its market share and gains +0.14 points to 18.31 percent. The Wiener Städtische loses 0.09 points and falls to just under 18 percent.

Market share in health insurance

#

business

+/–

2021

2020

2019

2018

2017

2016

one.

Uniqa Ost. Verse.

44:11

44.53

44.92

45.46

46.02

46.61

two.

mercury verse

+

18:31

18:17

18.02

17.45

17.01

16.49

3.

Wr. urban verse

17.97

18.06

18.07

18:34

18.48

18.75

Four.

overall verse

+

13.82

13.79

13.72

13.60

13.48

13:29

5.

Element of the Alliance Verse.

+

4:12

3.84

3.69

3.59

3.47

3.34

6.

Danube Verse

+

0.81

0.74

0.68

0.62

0.55

0.50

7.

muki

0.60

0.63

0.67

0.70

0.74

0.76

8th

desert red verse

0.22

0.23

0.24

0.24

0.25

0.26

9.

ergo verse

*

0.04

*

*

*

*

*

Accident insurance

Accident insurance increases its volume of premiums by 2.6 percent to 1,227 million.

The proportion of the first classified, the Uniqa, has also increased: it has gone from 27.49 to 27.68 percent. Therefore, it can compensate for the losses of the previous three years, it is even slightly above the value of 2017 and therefore it is extending its lead.

For the second-place Wiener Städtische, 2021 will bring another decline after 2020. At -0.30 points, it reaches 14.96 percent.

Its difference with the Generali, third, continues to shrink: it is reduced to less than one percentage point, because the lion increases 0.22 points to 14.00 percent.

Market shares in accident insurance (top 14 of 2021)

#

business

+/–

2021

2020

2019

2018

2017

2016

one.

Uniqa Ost. Verse.

+

27.68

27.49

27.51

27.62

27.66

27.31²

two.

Wr. Urban V

14.96

15:26

15.30

15.14¹

11.60

11.52

3.

overall verse

+

14.00

13.78

13.56

13:33

13:31

12.97

Four.

Elemental Alliance V

+

9:29

9:24

9:24

9.30

9:14

8.72

5.

Danube Verse

5.99

6.39

6.72

7.07

7.20

7.05

6.

Helvetia vers.

+

4.54

4.40

4.32

4.24

4.20

4.07

7.

Zurich Vers.

+

4.45

4.42

4.43

4.45

4.53

4.49

8th

Graz exchange.

+

2.97

2.90

2.82

2.72

2.68

2.58

9.

desert red verse

2.94

2.99

3.02

3.03

3.06

2.98

10

mercury verse

2.50

2.61

2.69

2.77

2.90

2.96

eleven

this superior Verse.

+

2.43

2.42

2.41

2.39

2.35

2.30

12

this official verse

1.98

2.02

2.03

2.04

2.08

2.06

13

under this Verse.

+

1.69

1.66

1.62

1.59

1.56

1.53

14

ergo verse

=

1.62

1.62

1.62

1.61

1.63

1.62

Damage insurance included motor vehicle

Non-life insurance (including motor vehicle insurance) grew strongly in 2021: premium volume expanded by 5.0% to €9,499 million.

Providers in the top field are relatively close together here. Uniqa tops the list with 15.77 percent, down 0.24 points. Generali also has to settle for less than last time: his share has fallen 0.38 points to 14.67 percent. At 13.91 percent (–0.02 points), the Städtische is only slightly below the previous year’s value.

A side note: excluding the motor vehicle business, non-life insurance had a volume of 5,653 million euros (+5.6 percent).

Market shares in non-life insurance, including motor vehicles (top 17 of 2021)

#

business

+/–

2021

2020

2019

2018

2017

2016

one.

Uniqa Ost. Verse.

15.77

16.01

16:10

16:37

16.18

16.21¹

two.

overall verse

14.67

15.05²

15.07

15:39

15.65

15.85

3.

Wr. Urban V

13.91

13.93

13.61

13.54

13.82

14:12

Four.

Element of the Alliance Verse.

10.20

10:37

10:41

10.65

10.70

10.77

5.

Danube Verse

5.84

5.96

6.04

6.22

6.30

6.36

6.

Zurich Vers.

5.32

5.40

5.39

5.40

5.49

5.54

7.

Grazer We. Verse.

+

4.53

4.52

4.55

4.53

4.48

4.43

8th

this superior Verse.

3.34

3.36

3.34

3.42

3.41

3.42

9.

Helvetia vers.

+

3.24

3:16

3.06

3.03

2.96

2.95

10

under this Verse.

+

3.03

2.99

2.97

3.01

2.99

2.97

eleven

HDI version

+

1.98

1.85

1.94

1.98

2.01

2.01

12

AG Vienna Insurance Group

+

1.96

1.47

1:11

1.01

1.04

1.01

13

this hail verse

1.90

1.95

1.80

1.55

1.42

1.25

14

desert red verse

1.70

1.76

1.79

1.86

1.95

2.06

fifteen

VAV version.

+

1.40

1.27

1:18

1:12

1.07

1.07

sixteen

Tyrolean verse.

1.27

1.30

1.30

1.32

1.32

1.32

17

Porsche version.

+

1:12

1.09

1.02

0.93

0.85

0.79

Car insurance

Finally, a closer look at car insurance: here providers were able to achieve 3,845 million euros (+4.1 percent) in written premiums.

As in previous years, the two largest providers remain a small distance apart. As in previous years, Generali remains ahead of Uniqa. Market shares amount to 17.05 and 16.76 percent respectively. This means a fall for both companies (-0.24 and -0.13 percent respectively).

Allianz is number three in the automotive ranking, with a constant 12.61 percent in 2021.

Auto Insurance Market Shares (Top 16 of 2021)

#

business

+/–

2021

2020

2019

2018

2017

2016

one.

overall verse

17.05

17.29¹

17.18

17:29

17.38

17.54

two.

Uniqa Ost. Verse.

16.76

16.89

17.04

17.05

17.00

16.82²

3.

Element of the Alliance Verse.

=

12.61

12.61

12.57

12.74

12.89

12.95

Four.

Wr. Urban V

10.85

10.98

10.74

10.84

11.09

11:33

5.

Danube Verse

6.07

6:17

6.46

6.78

6.88

6.89

6.

Zurich Vers.

5.54

5.61

5.66

5.79

5.98

6:31

7.

Grazer We. Verse.

+

4.82

4.81

4.80

4.78

4.71

4.63

8th

Helvetia vers.

+

3.64

3.52

3.40

3.37

3.28

3.27

9.

this superior Verse.

+

3.37

3.31

3.24

3.25

3.24

3.23

10

HDI version

+

2.77

2.66

2.71

2.73

2.76

2.67

eleven

Porsche version.

+

2.70

2.53

2:31

2.04

1.80

1.63

12

under this Verse.

+

2.50

2.44

2.42

2.40

2.42

2.41

13

desert red verse

2.39

2.43

2.43

2.49

2.63

2.80

14

VAV version

+

2.30

2:13

1.98

1.87

1.80

1.79

fifteen

muki

1.77

1.91

2.01

2.01

1.88

1.65

sixteen

Warranty Vers.

+

1.14

1.07

1.04

1.01

0.95

0.93

.

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