Forecast: Gross Written Premium Income of Motor Vehicle Partial Own Damage Insurance in Germany

The Gross Written Premium Income for Motor Vehicle Partial Own Damage Insurance in Germany stood at approximately 1.79 billion euros at the end of 2023. From 2024 to 2028, it is forecasted to grow incrementally from 1.81 billion euros to 1.89 billion euros, reflecting a consistent upward trend. The year-on-year growth rates indicate an average increase of around 1.1% annually. The Compound Annual Growth Rate (CAGR) over the five-year period is projected to be approximately 1.1%, suggesting stable growth in the sector.

Future trends to watch for include the impact of technological advancements in vehicle safety features potentially reducing claims, as well as evolving regulatory changes and consumer preference shifts towards electric vehicles, which could influence insurance premiums.