Personal Accident and Health Insurance in Germany, Key Trends and Opportunities to 2018

Date: 2015-09

The personal accident and health segment accounted for 22.2% of the German insurance industryโ€™s gross written premium in 2013, making it the smallest segment in the industry. During the review period (2009โ€“2013), the main growth drivers were a rise in GDP and the flexibility to purchase private health insurance. Consequently, the segment increased at review-period compound annual growth rate (CAGR) of 3.0%. Health insurance accounted for 83.3% of the segmentโ€™s gross written premium that year, with the German healthcare system including both public and private healthcare services. Although the government provides mandatory health insurance, the German private health insurance category registered a review-period CAGR of 3.5%. This was mainly a result of the governmentโ€™s abolition of a three-year waiting period for individuals to enroll for private health insurance in December 2010. Increasing public awareness of the benefits of private health insurance, and flexibility in accessing private health insurance services, are both expected to support the segmentโ€™s growth over the forecast period.

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