The gross written premium (GWP) of foreign-controlled life insurance companies in Germany has exhibited a general decline from 2013 to 2023, with a notable drop in 2020. In 2023, the GWP stood at 19.65 billion Euros, reflecting a -0.42% year-on-year decline from the previous year. Over the last five years, the compound annual growth rate (CAGR) was -0.44%, indicating a consistent reduction.
Looking ahead, forecasted data from 2024 to 2028 suggests a continued downward trend, with an average annual decrease projected at -0.34% (5-year CAGR). By 2028, the GWP is expected to reach 19.16 billion Euros, marking a total decline of about 1.71% over the forecasted period.
Future trends to watch for include the impact of regulatory changes, economic fluctuations, and evolving consumer preferences towards life insurance products. Tracking technological advancements and their adoption by insurance companies could also influence market dynamics significantly.
