In 2023, the production value in the non-life insurance sector in Germany stood at 58.13 billion Euros. Over the last two years, we observed a consistent increase with a year-on-year variation of 2.99% in 2022 and 2.87% in 2023. The Compound Annual Growth Rate (CAGR) over the past five years from 2018 to 2023 was 2.6%, indicating moderate but steady growth.

Looking into the future, the sector is forecasted to grow with a 5-year CAGR of 2.01%, reaching an estimated 65.99 billion Euros by 2028. This suggests a cumulative growth rate of about 10.48% from 2024 to 2028.

Future trends to watch for include:

Technological advancements and the adoption of digital tools in insurance processing and underwriting
Shifting consumer preferences towards more personalized insurance products
The impact of regulatory changes on the insurance landscape
Increasing attention to environmental, social, and governance (ESG) factors in insurance decision-making
The growing influence of insurtech startups and the potential for market disruption