Over the last decade (2013-2023), the non-life insurance sector in Germany has shown consistent growth. Turnover increased from 105.72 billion Euros in 2013 to 155.83 billion Euros in 2023. This period observed several year-on-year variations, with peaks such as a 6.91% increase in 2017 and steadier but substantial rises around 4% from 2018 to 2023. The CAGR for the 2019-2023 period averages at 4.19%, demonstrating a stable upward trend.
Looking forward, the forecast suggests continued growth albeit at a slightly lower rate. By 2028, turnover is expected to reach 183.9 billion Euros, resulting in a forecasted 5-year CAGR of 2.62% and a cumulative growth of 13.83% from 2024.
Future trends to watch for include the impact of digital transformation, evolving risk landscapes like cyber threats, and regulatory changes. Additionally, demographic shifts and climate change may significantly influence the sector's trajectory.
