Between 2013 and 2023, the turnover of life insurance in Germany showed varying trends, with some periods of decline and growth. The value stood at 106.48 billion euros in 2023. The annual growth rate varied significantly, with a notable peak in 2019 (11.27%) and consistent moderate increases from 2021 to 2023, leading to an estimated CAGR of 3.83% over the past five years. From 2024 onward, the forecast suggests continued growth, although at a slower average rate, with a projected CAGR of 1.78% over the next five years, culminating in a turnover of 119.12 billion euros by 2028.

Trends to watch for:

The emergence of digital insurance platforms might drive innovation and customer engagement.
Regulatory changes and economic conditions could impact consumer confidence and investment in life insurance products.
Sustainability and ESG factors are becoming more critical, potentially influencing product offerings and insurance portfolios.