In 2023, the market share of foreign-controlled property and casualty insurance companies in Germany was 10.5%. The forecasted data from 2024 to 2028 shows a gradual decline in market share, starting at 10.3% in 2024 and reaching 9.3% by 2028. Year-on-year variations indicate a consistent decline, with the market share reducing by approximately 0.2 to 0.3 percentage points each year. The compound annual growth rate (CAGR) over the five-year forecast period reflects an average annual decrease of around 2.5%.
Future trends to watch for include the impact of regulatory changes on foreign insurers, technological advancements driving innovation in service delivery, and evolving consumer preferences that may further influence market dynamics. Such factors could potentially alter the competitive landscape within the German insurance market.
