The reinsurance sector in Germany has shown significant growth over the past decade, with the number of persons employed rising from 11.75 thousand in 2013 to 22.01 thousand in 2023. In recent years, the sector experienced varied year-on-year changes including notable growth spurts, such as a 33.71% increase in 2017 and 20.14% in 2020. The compounded annual growth rate (CAGR) for the last 5 years stands at 7.88%. More recently, the year-on-year variations were stable, with a 4.8% increase in 2022 and 4.55% in 2023.

Based on forecast data, the employment number is projected to continue its upward trajectory, reaching 26.73 thousand by 2028. The forecasted 5-year CAGR is 3.09%, with a total growth rate of 16.41% over this period.

Future trends to watch for:

Technological advancements and their impact on operational efficiencies in the reinsurance sector.
Regulatory changes and their potential to influence market dynamics.
Global economic factors affecting the demand for reinsurance services.
Shifts in risk environments due to climate change and other global factors.