The value added of insurance, reinsurance, and pension funding in Germany has varied significantly over the past decade. From 2013 to 2023, it increased from €23.98 billion to €30.48 billion, showing a mixture of positive and negative year-on-year growth rates. Notably, 2015 saw a substantial 13.93% growth, while 2014 experienced a 5.53% decline. Over the past five years, the compound annual growth rate (CAGR) has steadily decreased, concluding at 1.08% in 2023.
From 2020 to 2022, the year-on-year growth rates were relatively modest, ranging from 1.52% to 2.55%, reflecting a period of more stable, albeit slower, growth. Looking ahead to 2028, the forecast suggests continued growth, albeit at a slower pace, with a forecasted five-year CAGR of 1.04% and an overall growth rate of 5.31% over the next five years.
Future trends to watch for include the potential impacts of regulatory changes, technological advancements, and shifts in consumer behavior driven by digitalization and demographic changes. Additionally, economic conditions, such as inflation and interest rates, will play a pivotal role in shaping the industry's trajectory.
