Key Market Indicators
German insurance spending is projected to climb to approximately €63 billion by 2028, up from around €59 billion in 2023. This represents an annual compound growth rate (CAGR) of 1.1%. Since 2000, demand for insurance in Germany has been increasing at an average rate of 1.8% per year. In terms of gross written premiums, the German market is expected to reach roughly $421 billion by 2028, growing from $387 billion in 2023. This indicates a 1.3% year-on-year CAGR. Since 1988, the supply of gross written premiums in Germany has risen at an average annual rate of 2.9%. As of 2023, Germany ranked third globally in gross written premiums, trailing the United Kingdom, which recorded $387 billion. The United Kingdom, Germany, and the Netherlands occupied the second, third, and fourth positions, respectively, in this ranking.
