Non-Life Insurance in Germany, Key Trends and Opportunities to 2018

Date: 2015-09

“In terms of gross written premium, German non-life insurance is one of the leading segments of its kind in Europe. Compulsory insurance aided rapid segment growth during 2001–2011. However, due to the impact of the global financial crisis, the segment’s growth bordered on stagnant during 2008–2010. The non-life segment is highly fragmented, with more than 200 insurers supplying a variety of products, and the top 10 companies accounting for 46.2% of the segment’s total written premium in 2012. The non-life segment recorded the strongest annual growth during the review period, reaching 5.1% in 2012. This was also the highest growth rate in the non-life segment since 2003, due to the 6.1% growth in motor cover in 2012. Non-life insurers are increasingly focusing on underwriting profitability, as low interest rates continue to suppress investment income.

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