AUSTRIA: POSITIVE DEVELOPMENT IN CROP INSURANCE
Article Abstract:
Osterreichische Ernteversicherung says that will is reducing premium rates for insurance against crop damage by 2.5% in year 2000. Due to the positive development of claims and a higher market penetration of the insurance, farmers will be paid bonuses worth a "double-digit million amount". In 1999 payouts on about 10,000 claims amounted to about Sch 230mn. Claims ratio was less than 40%. This follows negative results from crop loss insurance in 1997 and 1998. From year 2000 farmers will be able to insure their cereal crops against drought.
Publication Name: Presse
Subject: Business, international
ISSN:
Year: 1999
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AUSTRIA: MERGER OF INSURANCE BROKERS
Article Abstract:
What is said to be the biggest insurance broker in western Austria will be created in the merger (estimated to be worth Sch 50mn to 100mn) of Raiffeisen-Tirol Consult (RTC) and the insurance brokerage of Wolfgang Steinmayr. The merged company will represent a premium volume of about Sch 350mn. RTC is an independent insurance brokerage established in March 2000. Wolfgang Steinmayr is a former professional cyclist.
Publication Name: Presse
Subject: Business, international
ISSN:
Year: 2000
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