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Germany Insurance Report 2014

  • December 2013
  • -
  • Business Monitor International
  • -
  • 73 pages

Includes 3 FREE quarterly updates

BMI View:
The newsflow from late 2012 highlights two major themes. One is the resilience of the German
insurance sector in the face of challenging economic conditions. Non-life premiums appear to have risen by
around 3% in the first half of the year. This is partly thanks to a firming in rates for car insurance and
partly because of the passing on to customers of the higher claims costs associated with catastrophes in
2011. As was the case in 2011, combined ratios have been improving: underwriting discipline and cost
control continue to come to the fore. In the life segment, a decline in single premium product sales in 2011
was partially offset by a rise in more profitable recurring premium lines. The leading life insurance
companies have indicated that these trends continued in H112.
In short, it remains clear that Germany has a clear competitive advantage as a provider of insurance
solutions. This is the second major theme. Germany's leadership in insurance has been developed over the
long-term as a result of the key protagonists working together to leverage the country's key strengths. An
obvious advantage is the long-established concept that insurance is a useful vehicle for reducing the risks
associated with unemployment or illness. Within Germany's Social-Market economy, the basic concept is
that individuals must pay out of their own pocket in order to ensure that risks are defrayed - even if there is
substantial public sector participation as well.

Table Of Contents

Germany Insurance Report 2014
BMI Industry View 7
Table: Germany's Total Premiums, 2010-2017 8
SWOT 9
Insurance 9
Political 11
Economic 12
Business Environment 13
Industry Forecast 14
Life 14
Table: Germany's Life Premiums, 2010-2017 14
Non Life 15
Table: Germany's Non-Life Premiums, 2010-2017 16
Industry Risk Reward Ratings 17
Germany Insurance Risk/Reward Ratings 17
Table: Germany's Insurance Risk/Reward Ratings 17
Developed States Insurance Risk/Reward Ratings 18
Table: Developed States Insurance Risk/Reward Ratings 19
Market Overview 20
Life Sector Update 20
Non Life Sector Update 21
Industry Trends And Developments 23
Life Growth Drivers and Risk Management Projections 23
Table: Insurance Key Drivers, Demographics 2010-2017 23
Non Life Growth Drivers and Risk Management Projections 25
Macroeconomic Forecast 25
Table: Germany - Economic Activity 27
Political Outlook 27
Table: Developed States Regional Security Ratings (scores out of 100, with 100 the best) 29
Healthcare Sector 30
Epidemiology 32
Table: Insurance Key Drivers, Disease Adjusted Life Years 2010-2017 33
Autos 34
Table: Insurance Key Drivers, Autos 2010-2017 35
Competitive Landscape 36
Company Profile 39
Allianz 39
AXA 43
Generali Deutschland 47
Munich Re 51
Talanx AG 54
Zurich Insurance Group 58
Regional Overview 60
Developed States Life Sector Overview 60
Table: Developed States Life Premiums, 2010-2017 60
Developed States Non Life Sector Overview 62
Table: Developed States Non Life Premiums, 2010-2017 (US$mn) 62
Demographic Forecast 64
Demographic Outlook 64
Table: Germany's Population By Age Group, 1990-2020 ('000) 65
Table: Germany's Population By Age Group, 1990-2020 (% of total) 66
Table: Germany's Key Population Ratios, 1990-2020 67
Table: Germany's Rural And Urban Population, 1990-2020 67
Methodology 68
Industry Forecast Methodology 68
Risk/Reward Rating Methodology 71
Table: Insurance Risk/Reward Ratings Indicators 72
Table: Weighting Of Indicators 73

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