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Again a successful business year for Europäische Reiseversicherung


Vienna – Although 2014 was not an easy year for the travel sector, Europäische Reiseversicherung has been able to further extend its position as market leader in this area of insurance, achieving again an outstanding growth: premiums earned at 65.96 million Euros, 3.4 percent up on the record value in 2013. The profit from ordinary activity (POA) was at 5.31 million Euros almost at the peak value of the previous year, the annual profit was 3.73 million Euros and the balance sheet profit rose to 4.86 million Euros.

The positive trend was evident in the most important touristic business areas with above-average growth in the annual travel insurances. Europäische’s foreign undertakings, the branch in Slovakia and the activities in South Tyrol, Slovenia, Czech Republic and Hungary contributed with their performance as well to growth in turnover. According to the Chairman of the Management Board, Mag. Wolfang Lackner, the fact that the company has continued to grow in spite of an essentially stagnating travel market is attributable to increased market penetration: “Krim-crises, acts of war in eastern Ukraine and Terror of the IS in the Middle East, as well as weak economic development in Europe, led to a sharp decline regarding the outgoing tourism in the second half of the year after a good first six months. At the same time this led to greater risk awareness and an increased tendency to take out travel insurance (especially in high-priced packages and long-distance travel) in order to cover possibly risks.

Incoming tourism arrivals increased by 1.9 percent to 37.5 million guests. Overnight stays reduced slightly by 0.6 percent to 131.9 million. In this segment Europäische succeeded in particular by the excellent partnership with the hotels, to achieve growth.

Wolfgang Lackner: “Due to the successful cooperation with our competent sales partners and continuous product improvement, we were able to achieve this considerable result”.

Total expenditure on claims, at 31.21 million Euros, was 0.5 percent lower than in the previous year, which was mostly due to increased costs in respect of large claims.  The gross loss ratio (share of expenses to premium income) decreased slightly from 49.7 to 48.5 percent.

The administration and acquisition costs (including commission) increased by 4.0 percent, the administrative expenses by 3.5 percent only. Under adherence to the strict lowerst value or market principle in financial investments, the company’s financial result was markedly increased by 75.0 percent to 3.10 million Euros. 

The POA (profit from ordinary activity) amounted to 5.31 million Euros, the net income amounted to - due to a higher tax expenses - 3.73 million Euros. The balance sheet profit (including a profit carry forward from the previous year in the amount of 3.34 million Euros) increased by 31.0 percent to 4.86 million Euros. As a result the company’s equity increased to 20.82 million Euros.


The subsidiaries of Europäische also achieved positive results: the broker company Care Consult focuses on special event and tourism insurance, and TTC (Travel Trainings Center), with its broad range of seminar programmes, enjoys success as a leading professional development institution for the tourism sector.


In the highly competitive insurance market, the branch in Slovakia has become a leading provider of travel insurance, with a premium income increasing by 19 percent to 6.12 million Euros last year. The successfully built up business was sold on 1.1.2015 within the Group to Generali Slovakia.

In Slovenia, Europäische Reiseversicherung operates in cooperation with the local Generali company, and also (since 2010) in direct business. The company achieved a double-digit growth in 2014. Pushing the brand was and will be an ongoing topic for the company.

In Hungary and the Czech Republic, where Europäische holds participations in the leading travel insurance specialists, clearly positive results have been achieved. Further stable developments are expected.

In South Tyrol, products which have proved successful in Austria are sold for outgoing and incoming tourism by sales partners. In spite of the difficult economic environment, premium growth could be achieved as well.


“Even a lot is in change and Europäische is not expecting high growth rates for 2015, we still look positively to the year. We want to cope with challenges by increased cooperation with distribution partners, the development of new distribution channels and by focusing on the needs of customers and partners. We offer products and services of highest quality and we will continue to be the first choice for travellers”, says Mag. Lackner.

Note: This text provides basic information for media representatives. The information concerning the course of business and about products and services is presented in abbreviated and simplified form.

With a market share of more than 60 percent, Europäische Reiseversicherung is the largest travel insurer in Austria. More than 2.15 million travelers trust in the products of “Europäische”. The assortment ranges from insurances for austrian-holidays and travels abroad to annual travel insurances and packages for companies and business travel.
Europäische Reiseversicherung AG is a company of the Generali Group, one of the leading insurance groups worldwide with income from premiums of 70 billion Euros in 2014. With 78,000 employees worldwide and 65 million customers in over 60 countries, the Group holds a leading position on the markets of Western Europe, and is becoming increasingly important in Central and Eastern Europe as well as Asia.


Business Report 2014

Figures, data, facts – the latest business report for you to download. (pdf in German)



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Europäische Reiseversicherung AG • Kratochwjlestr. 4 • A-1220 Wien • Tel.: +43 1 317 25 00 • E-Mail: info@europaeische.at