•  The Austrian insurance sector has performed relatively well compared with that of many other European countries. •  Austria enjoys a high standard of prudential supervision based on strong institutions and a comprehensive legal framework.
Financial supervision was integrated in the Financial Market Authority (FMA) in 2002, and the cooperation between the FMA and the Oesterreichische Nationalbank, which continues to be strongly involved in banking supervision, works smoothly. •  This framework results in a high level of compliance with internationally accepted standards in the areas of banking, insurance, securities and the prevention of money laundering.