In 2023, the gross incurred claims for motor vehicle TPL insurance in Germany amounted to 14.82 billion euros. Projections for the 2024-2028 period show a steady year-on-year increase, with values climbing from 14.94 billion euros in 2024 to 15.44 billion euros in 2028. This represents a compound annual growth rate (CAGR) of approximately 1.02% over these years, indicating moderate growth in the market.
Future trends to watch for:
- Impact of technological advancements in vehicle safety features potentially lowering claims.
- Evolving regulatory landscape affecting insurance policies and claims costs.
- Influence of economic factors such as inflation on insurance premiums and claim values.
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