AUSTRIA: WEAK DEMAND FOR NEW RETIREMENT POLICIES
Article Abstract:
New forms of government subsidies for the provision for old age have so far aroused little interest among Austrians. The sales of subsidised pension investment funds have remained lower than anticipated, at about Sch 100mn. Wiener Stadtische has sold about 2,000 additional pension insurance policies since the subsidies became available at the beginning of year 2000. Generali has signed about 500 contracts and Allianz 40 contracts. Insurance companies demand that the government makes changes in the criteria for the policies, which are eligible for public subsidies of up to Sch 480 per year.
Publication Name: Presse
Subject: Business, international
ISSN:
Year: 2000
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AUSTRIA: BASLER VERSICHERUNG GOES INTERNET
Article Abstract:
In February 2001, Basler Versicherung in Austria is to put its private pension insurance product called "Schweizer" on the internet. Lothar Mayrhofer, chief executive of the Austrian subsidiary of the Swiss insurance group, says that the flexible pension insurance policy is particularly suitable for internet, because in this policy clients can determine when they want contribute which sum. Through the internet service, they will have access to data about their policy. They will also be able to pay contributions by means of electronic money.
Publication Name: Presse
Subject: Business, international
ISSN:
Year: 2000
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AUSTRIA: PENSION INSURANCE BOOM IN 1ST HALF 2001
Article Abstract:
In the first half of 2001 the life insurance market in Austria grew by 16%. The sales of unit-linked life policies increased 37% to Sch 2.7bn. At the same time, premium income from conventional private pension insurance surged 97% to Sch 7.17bn. On the other hand, premiums from state-subsidised supplementary pension insurance grew 74% but amounted to no more than Sch 22mn. It is suggested that the latter form is not attractive to consumers, since the money paid into the policies cannot be taken out before retirement.
Publication Name: Presse
Subject: Business, international
ISSN:
Year: 2001
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