The report provides in-depth market analysis, information and insights into the German life insurance market, including:
- The German life insurance market’s growth prospects by life insurance categories and customer segments
- The various distribution channels in the German life insurance market
- The competitive landscape in the German life insurance market
- A description of the life reinsurance market in Germany
The German life insurance segment is one of the strongest in Europe in terms of insurance density and penetration. However, the German life insurance segment registered a negative annual growth rate due to the impact of the European sovereign debt crisis in 2011. As a result of the difficult economic conditions, German consumers are beginning to appreciate the advantages offered by life insurers. These advantages include insurance cover against biometric risks and old age guarantees. Biometric risk is the risk that the insurer has to pay pensions for a longer time or larger death or disability benefits to the insured than anticipated by the insurer when pricing the policies. There was a strong demand for single-premium life insurance as part of private old age pensions in Germany in 2010. The country’s aging population and rising employment opportunities, driven by the improving European economic environment, are expected to drive German life insurance growth over the forecast period (2012–2016).
This report provides a comprehensive analysis of the life insurance market in Germany:
- It provides historical values for the German life insurance market for the report’s 2007–2011 review period and forecast figures for the 2012–2016 forecast period
- It offers a detailed analysis of the key sub-segments in the German life insurance market, along with market forecasts until 2016
- It covers an exhaustive list of parameters, including written premium, incurred loss, loss ratio, commissions and expenses, combined ratio, frauds and crimes, total assets, total investment income and retentions
- It analyses the various distribution channels for insurance products in Germany
- Using Porter’s industry-standard “Five Forces” analysis, it details the competitive landscape in Germany for life insurance business
- It provides a detailed analysis of the reinsurance market in Germany and its growth prospects
- It profiles the top life insurance companies in Germany, and outlines the key regulations affecting them
Reasons To Buy
- Make strategic business decisions using in depth historic and forecast market data related to the German life insurance market and each sector within it
- Understand the demand-side dynamics, key market trends and growth opportunities within the German life insurance market
- Assess the competitive dynamics in the life insurance market, along with the reinsurance segment
- Identify the growth opportunities and market dynamics within key product categories
- Gain insights into key regulations governing the German insurance market and its impact on companies and the market's future
- The German life insurance segment has the second-strongest growth potential in Western Europe, after Spain, due to its large economy and population.
- The country’s aging population is notably contributing to the growth of the German life insurance segment, as the older population tends to purchase more life insurance than the younger population.
- The main reason for the growth of German life insurance is the rising demand for general annuity and endowment life insurance products.
- Agencies was the main distribution channel for the German life insurance segment during the review period, despite increasing competition from the cost-effective bancassurance channel.
- Despite the global economic crisis, the German life insurance segment registered moderate growth in 2008 and 2009.
- The German life segment is highly competitive and contains both domestic and foreign insurers. Allianz is the leading German life insurance company.