Germany Insurance Q4 2018
By all metrics, Germany's insurance market is highly developed. Overall premium writing, at about EUR210bn annuallyacross the life and non-life lines, is among the most extensive in the world, while penetration, in terms of premiums to GDP, is about3% in both markets. Despite this high level of maturity, the medium-term outlook for the Germany insurance industry remainsfavourable from a premiums-growth perspective. Stability in the economy coupled with positive demographic trends, including agrowing retirement-age population and increased private healthcare usage, will drive solid growth of about 3% annually across themajor lines during 2018-2022. The main downside for insurers, however, remains the low-interest rate environment which is puttingincreased potential on companies' liquidity. Some, such as Generali, are likely to consider their position in the market as a result.
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