In 2023, the gross incurred claims of motor insurance in Germany stood at approximately 24.20 billion Euros. The forecast from 2024 to 2028 indicates a consistent upward trend, with values rising from 24.45 billion Euros in 2024 to 25.45 billion Euros in 2028. This represents an average year-on-year increase of around 0.26 billion Euros, approximately 1% growth rate per year, and a CAGR over the five-year period.
Future trends to watch for include:
- The impact of technological advancements in vehicle safety and autonomous driving on reducing claims.
- Evolving regulations concerning vehicle insurance in Germany and the wider EU market.
- Potential market shifts due to economic conditions affecting vehicle ownership and insurance uptake.
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