The gross written premium income of property insurance in Germany has shown a general upward trend from 2013 to 2023, increasing from €16.73 billion to €21.03 billion. Notably, there were periods of slower growth or decline, such as a -3.31% drop in 2020. The highest year-on-year increase was in 2022, at 7%, followed by a relatively modest 1.59% increase in 2023. From 2018 to 2023, the compound annual growth rate (CAGR) shows a slowing trend, at 1.72% up to 2023.
Looking ahead, the forecast data from 2024 to 2028 suggests continued but moderate growth in gross written premiums, with a forecasted CAGR of 1.26%. By 2028, the premium income is expected to reach €22.69 billion, reflecting a total growth rate of 6.43% over the five-year period.
Future Trends to Watch For:
- Potential market saturation leading to slower growth rates.
- Impact of new regulatory policies or economic conditions on premium income.
- Emergence of new risks or technologies influencing property insurance needs.
- Increased focus on sustainable and climate-related insurance products.
