The property insurance market in Germany saw steady growth from 2013 to 2019, with a noticeable dip in 2020. From 2013 to 2019, there was a gradual increase each year, reaching 73.4 million units by 2019. However, 2020 experienced a sharp decline of 4.61%, a rare drop in the otherwise growing trend. The market rebounded slightly in 2021 and surged in 2022 with a significant 5.55% increase. By 2023, the value stood at 74.3 million units.
Looking ahead, the forecast indicates a steady but modest growth rate with a 5-year CAGR of 0.25%. By 2028, the volume is expected to reach 75.19 million units, reflecting a 1.23% growth over the 5-year period.
Future trends to watch for include the impact of climate change on property risks, digital transformation in insurance underwriting, and potential regulatory changes that could affect market dynamics. Additionally, the integration of technology for risk assessment and claims processing may drive efficiency and growth.
