Non-Life Insurance in Germany, Key Trends and Opportunities to 2020

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Published: July 17, 2017 Report Code: GD-IS1517MR-ST

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GlobalData’s 'Non-Life Insurance in Germany, Key Trends and Opportunities to 2020' report provides a detailed outlook by product category for the German non-life insurance segment, and a comparison of the German insurance industry with its regional counterparts.

It provides values for key performance indicators such as written premium, incurred loss, loss ratio, commissions and expenses, combined ratio, total assets, total investment income and retentions during the review period (2011–2015) and forecast period (2015–2020).

The report also analyzes distribution channels operating in the segment, gives a comprehensive overview of the German economy and demographics, explains the various types of natural hazard and their impact on the German insurance industry, and provides detailed information on the competitive landscape in the country.

The report brings together GlobalData’s research, modeling and analysis expertise, giving insurers access to information on segment dynamics and competitive advantages, and profiles of insurers operating in the country. The report also includes details of insurance regulations, and recent changes in the regulatory structure.

Scope

This report provides a comprehensive analysis of the non-life insurance segment in Germany:

• It provides historical values for the German non-life insurance segment for the report’s 2011–2015 review period, and projected figures for the 2015–2020 forecast period.

• It offers a detailed analysis of the key categories in the German non-life insurance segment, and market forecasts to 2020.

• It profiles the top non-life insurance companies in Germany, and outlines the key regulations affecting them.

Key Highlights

• In May 2017, a new regulatory framework for automated driving was established by amending the German Road Traffic Act. On May 24, 2016, new regulations related to data protection came into force. The new law is designed to guarantee data privacy and update the way organizations handle individuals’ data.

• On May 28, 2016, new regulations on clinical trials came into effect, which were passed in the European Parliament on April 16, 2014. According to the regulation, European Union (EU) member states need to have a system in place for the compensation of any damages resulting from participation in a clinical trial conducted in their territory.

• The German Insurance Association (GDV) published standard conditions on cyberinsurance products for small and medium sized businesses in April 2017. There were 15 insurers offering cyberinsurance products in 2016. Allianz SE launched its first cyber insurance product in 2016, for Germany's small-to-medium-sized companies.

Reasons to Buy

• Make strategic business decisions using in-depth historic and forecast market data related to the German non-life insurance segment, and each category within it.

• Understand the demand-side dynamics, key market trends and growth opportunities in the German non-life insurance segment.

• Assess the competitive dynamics in the non-life insurance segment.

• Identify growth opportunities and market dynamics in key product categories.

• Gain insights into key regulations governing the German insurance industry, and their impact on companies and the industry's future.

Allianz Versicherung
Allianz Global Corporate & Specialty
HDI-Gerling Industrie Versicherung
Axa Versicherung
R+V Allgemeine Versicherung
Generali
DARAG
Ergo Versicherung
Talanx
Swiss Re

Table of Contents

1 Key Facts and Highlights

2 Executive Summary

3 Economy and Demographics

4 Segment Outlook

4.1 Regional Comparison

4.2 Segment Indicators

4.2.1 Gross written premium and penetration

4.2.2 Policies sold

4.2.3 Claims

4.2.4 Profitability

4.2.5 Assets and investments

5 Outlook by Category

5.1 Property Insurance

5.1.1 Product overview

5.1.2 Premium

5.1.3 Policies sold

5.1.4 Profitability

5.2 Motor Insurance

5.2.1 Product overview

5.2.2 Premium

5.2.3 Policies sold

5.2.4 Profitability

5.3 Liability Insurance

5.3.1 Product overview

5.3.2 Premium

5.3.3 Policies sold

5.3.4 Profitability

5.4 Marine, Aviation and Transit Insurance

5.4.1 Product overview

5.4.2 Premium

5.4.3 Policies sold

5.4.4 Profitability

6 Distribution Channel Outlook

6.1 Analysis by Distribution Channel

6.1.1 Agencies

6.1.2 Brokers

6.1.3 Direct marketing

6.1.4 Bancassurance

6.1.5 E-commerce

7 Natural and Man-made Hazards

7.1 Windstorms and Hailstorms

7.2 Floods

7.3 Extreme Temperature and Drought

7.4 Exposure

8 Competitive Landscape

8.1 Company Profiles

8.1.1 Allianz Versicherung – company overview

8.1.2 Allianz Global Corporate & Specialty – company overview

8.1.3 HDI-Gerling Industrie Versicherung – company overview

8.1.4 Axa Versicherung – company overview

8.1.5 R+V Allgemeine Versicherung – company overview

9 Governance, Risk and Compliance

9.1 Legislation Overview and Historical Evolution

9.2 Latest Changes in Regulation

9.3 Legislation and Market Practice by Type of Insurance

9.3.1 Life insurance

9.3.2 Property insurance

9.3.3 Motor insurance

9.3.4 Liability insurance

9.3.5 Marine, aviation and transit insurance

9.3.6 Personal accident and health insurance

9.4 Compulsory Insurance

9.4.1 Motor third-party liability insurance

9.4.2 Workmen’s compensation insurance

9.4.3 Air carriers and aircraft operators insurance

9.4.4 Professional indemnity insurance for alternative investment fund managers

9.4.5 Product liability insurance for pharmaceutical manufacturers

9.4.6 Clinical trial liability insurance

9.4.7 Operating liability for plants posing a hazard to the environment

9.4.8 Liability for ships with respect to oil pollution

9.4.9 Liability insurance against the transport of hazardous and noxious substances by sea

9.5 Supervision and Control

9.5.1 International Association of Insurance Supervisors

9.5.2 European Insurance and Occupational Pensions Authority

9.5.3 Federation of European Risk Management Associations

9.5.4 Federal Financial Supervisory Authority

9.5.5 German Insurance Association

9.6 Non-Admitted Insurance Regulations

9.6.1 Overview

9.6.2 Intermediaries

9.6.3 Market practices

9.6.4 Fines and Penalties

9.7 Company Registration and Operations

9.7.1 Type of insurance organization

9.7.2 Establishing a local company

9.7.3 Foreign ownership

9.7.4 Types of license

9.7.5 Capital requirements

9.7.6 Solvency margin

9.7.7 Reserve requirements

9.7.8 Investment regulations

9.7.9 Statutory return requirements

9.7.10 Fee structure 144

9.8 Taxation

9.8.1 Insurance premium or policy taxation

9.8.2 Withholding taxes on premium paid overseas

9.8.3 Corporate tax

9.8.4 VAT

9.8.5 Captives

9.9 Legal System

9.9.1 Introduction

9.9.2 Access to court

9.9.3 Alternative dispute resolution

10 Databook

10.1 Policies and Premium

10.2 Claims and Expenses

10.3 Assets and Investments

10.4 Direct Marketing and E-Commerce

10.5 Insurance Brokers and Agencies

10.6 Bancassurance and Other Distribution Channels

10.7 Property Insurance

10.8 Property Insurance by Product

10.9 Motor Insurance

10.10 Motor Insurance by Product 160

10.11 Liability Insurance 161

10.12 Marine, Aviation and Transit Insurance 162

11 Definitions and Methodology

11.1 Definitions

11.2 Methodology

12 About GlobalData

12.1 Contact GlobalData

12.2 About GlobalData

12.3 GlobalData’s Services

12.4 Disclaimer

Table

Table 1: German Non-Life Insurance – Key Facts, 2015

Table 2: German Non-Life Insurance – Segment Shares of the Top Insurers, 2015

Table 3: German Government Credit Ratings

Table 4: German Non-Life Insurance – Gross Written Premium (EUR Billion and US$ Billion), 2011–2015

Table 5: German Non-Life Insurance – Penetration (%), 2011–2015

Table 6: German Non-Life Insurance – Gross Written Premium (EUR Billion and US$ Billion), 2015–2020

Table 7: German Non-Life Insurance – Penetration (%), 2015–2020

Table 8: German Non-Life Insurance – Premium per Capita (EUR and US$), 2011–2015

Table 9: German Non-Life Insurance – Premium per Capita (EUR and US$), 2015–2020

Table 10: German Non-Life Insurance – Number of Policies Sold (Million), 2011–2015

Table 11: German Non-Life Insurance – Number of Policies Sold (Million), 2015–2020

Table 12: German Non-Life Insurance – Paid Claims (EUR Billion and US$ Billion), 2011–2015

Table 13: German Non-Life Insurance – Paid Claims (EUR Billion and US$ Billion), 2015–2020

Table 14: German Non-Life Insurance – Profitability Ratio (%), 2011–2015

Table 15: German Non-Life Insurance – Profitability Ratio (%), 2015–2020

Table 16: German Non-Life Insurance – Total Assets (EUR Billion and US$ Billion), 2011–2015

Table 17: German Non-Life Insurance – Total Assets (EUR Billion and US$ Billion), 2015–2020

Table 18: German Non-Life Insurance – Total Investment Income (EUR Billion and US$ Billion), 2011–2015

Table 19: German Non-Life Insurance – Total Investment Income (EUR Billion and US$ Billion), 2015–2020

Table 20: German Non-Life Insurance – Investment Portfolio (EUR Billion), 2011–2015

Table 21: German Non-Life Insurance – Investment Portfolio (EUR Billion), 2015–2020

Table 22: German Non-Life Insurance – Direct Written Premium by Category (EUR Billion), 2011–2015

Table 23: German Non-Life Insurance – Direct Written Premium by Category (EUR Billion), 2015–2020

Table 24: German Property Insurance – Direct Written Premium by Sub-Category (EUR Billion), 2011–2015

Table 25: German Property Insurance – Direct Written Premium by Sub-Category (EUR Billion), 2015–2020

Table 26: German Property Insurance – Number of Policies Sold (Million), 2011–2015

Table 27: German Property Insurance – Number of Policies Sold by Sub-Category (Million), 2015–2020

Table 28: German Property Insurance – Loss Ratio (%), 2011–2015

Table 29: German Property Insurance – Loss Ratio (%), 2015–2020

Table 30: German Motor Insurance – Number of Vehicles by Type (Thousand), 2011–2016

Table 31: German Motor Insurance – Number of Road Accidents, 2012–2015

Table 32: German Motor Insurance – Direct Written Premium by Sub-Category (EUR Billion), 2011–2015

Table 33: German Motor Insurance – Direct Written Premium by Sub-Category (EUR Billion), 2015–2020

Table 34: German Motor Insurance – Number of Policies Sold by Sub-Category (Million), 2011–2015

Table 35: German Motor Insurance – Number of Policies Sold by Sub-Category (Million), 2015–2020

Table 36: German Motor Insurance – Loss Ratio (%), 2011–2015

Table 37: German Motor Insurance – Loss Ratio (%), 2015–2020

Table 38: German Liability Insurance – Direct Written Premium by Sub-Category (EUR Billion), 2011–2015

Table 39: German Liability Insurance – Direct Written Premium by Sub-Category (EUR Billion), 2015–2020

Table 40: German Liability Insurance – Number of Policies Sold (Million), 2011–2015

Table 41: German Liability Insurance – Number of Policies Sold (Million), 2015–2020

Table 42: German Liability Insurance – Loss Ratio (%), 2011–2015

Table 43: German Liability Insurance – Loss Ratio (%), 2015–2020

Table 44: German Transport Network – Global Rankings

Table 45: German Marine, Aviation and Transit Insurance – Freight Carried (Million Ton), 2011–2015

Table 46: German Marine, Aviation and Transit Insurance – Direct Written Premium by Sub-Category (EUR Billion), 2011–2015

Table 47: German Marine, Aviation and Transit Insurance – Direct Written Premium by Sub-Category (EUR Billion), 2015–2020

Table 48: German Marine, Aviation and Transit Insurance – Number of Policies Sold (Thousand), 2011–2015

Table 49: German Marine, Aviation and Transit Insurance – Number of Policies Sold (Thousand), 2015–2020

Table 50: German Marine, Aviation and Transit Insurance – Loss Ratio (%), 2011–2015

Table 51: German Marine, Aviation and Transit Insurance – Loss Ratio (%), 2015–2020

Table 52: German Non-Life Insurance – Direct Written Premium by Distribution Channel (EUR Billion), 2011–2015

Table 53: German Non-Life Insurance – Direct Written Premium by Distribution Channel (EUR Billion), 2015–2020

Table 54: German Non-Life Insurance – Percentage of Direct Written Premium, by Distribution Channel, 2011–2020

Table 55: German Average Annual Loss by Hazard, 1990–2014

Table 56: German Non-Life Insurance – Number of Insurers by Line of Business, 2011–2015

Table 57: German Non-Life Insurance – Number of Property Type, 2011–2015

Table 58: German Non-Life Insurance – Number of Motor Insurer by Type, 2011–2015

Table 59: German Non-Life Insurance – Segment Shares of the Leading Insurers (%), 2015

Table 60: Allianz Versicherung – Key Facts

Table 61: Allianz Versicherung – Key Financials (US$ Billion), 2011–2015

Table 62: Allianz Global Corporate & Specialty – Key Facts

Table 63: Allianz Global Corporate & Specialty – Key Financials (US$ Million), 2011–2015

Table 64: HDI-Gerling Industrie Versicherung – Key Facts

Table 65: HDI-Gerling Industrie Versicherung – Key Financials (US$ Million), 2011–2015

Table 66: Axa Versicherung – Key Facts

Table 67: Axa Versicherung – Key Financials (US$ Million), 2011–2015

Table 68: R+V Allgemeine Versicherung – Key Facts

Table 69: R+V Allgemeine Versicherung – Key Financials (US$ Million), 2011–2015

Table 70: Germany– Insurance Regulatory Framework Key Features

Table 71: Germany– Life Insurance Regulatory Framework

Table 72: Germany– Property Insurance Regulatory Framework

Table 73: Germany– Motor Insurance Regulatory Framework

Table 74: Germany– Liability Insurance Regulatory Framework

Table 75:Germany – Minimum Cover for Aircraft Third-Party Liability Per Accident Per Aircraft

Table 76: Germany– Insurance Premium Tax (IPT)

Table 77: Germany– Corporate Tax Rates for the Financial Year 2017

Table 78: German Insurance Industry – Policies and Premium, 2011–2015

Table 79: German Insurance Industry – Policies and Premium, 2015–2020

Table 80: German Non-Life Insurance – Claims and Expenses, 2011–2015

Table 81: German Non-Life Insurance – Claims and Expenses, 2015–2020

Table 82: German Non-Life Insurance – Assets and Investments, 2011–2015

Table 83: German Non-Life Insurance – Assets and Investments, 2015–2020

Table 84: German Non-Life Insurance – Direct Marketing and E-Commerce, 2011–2015

Table 85: German Non-Life Insurance – Direct Marketing and E-Commerce, 2015–2020

Table 86: German Non-Life Insurance – Insurance Brokers and Agencies, 2011–2015

Table 87: German Non-Life Insurance – Insurance Brokers and Agencies, 2015–2020

Table 88: German Non-Life Insurance – Insurance Brokers and Agencies, 2011–2015

Table 89: German Non-Life Insurance – Insurance Brokers and Agencies, 2015–2020

Table 90: German Non-Life Insurance – Property Insurance, 2011–2015

Table 91: German Non-Life Insurance – Property Insurance, 2015–2020

Table 92: German Non-Life Insurance – Property Insurance by Product, 2011–2015

Table 93: German Non-Life Insurance – Property Insurance by Product, 2015–2020

Table 94: German Non-Life Insurance – Motor Insurance, 2011–2015

Table 95: German Non-Life Insurance – Motor Insurance, 2015–2020

Table 96: German Non-Life Insurance – Motor Insurance by Product, 2011–2015

Table 97: German Non-Life Insurance – Motor Insurance by Product, 2015–2020

Table 98: German Non-Life Insurance – Liability Insurance, 2011–2015

Table 99: German Non-Life Insurance – Liability Insurance, 2015–2020

Table 100: German Non-Life Insurance – Marine, Aviation and Transit Insurance, 2011–2015

Table 101: German Non-Life Insurance – Marine, Aviation and Transit Insurance, 2015–2020

Table 102: Insurance Industry Definitions

Figures

Figure 1: German Real GDP (EUR Billion), 2011–2020

Figure 2: EUR–US$ Exchange Rate, 2011–2020

Figure 3: German Consumer Price Inflation (%), 2011–2020

Figure 4: German Current Account Balance as Percentage of GDP (%), 2011–2015

Figure 5: German Unemployment Rate, 2011–2020

Figure 6: German Population by Age Group, 1990–2025

Figure 7: German Non-Life Insurance Penetration – Regional Comparison (%), 2015

Figure 8: Germany Insurance Segment By Direct Written Premium Shares – Regional Comparison (%), 2015

Figure 9: German Non-Life Insurance – Gross Written Premium (EUR Billion), 2011–2020

Figure 10: German Non-Life Insurance – Penetration (%), 2011–2020

Figure 11: German Non-Life Insurance – Premium per Capita (EUR), 2011–2020

Figure 12: German Non-Life Insurance – Number of Policies Sold (Million), 2011–2020

Figure 13: German Non-Life Insurance – Paid Claims (EUR Billion), 2011–2020

Figure 14: German Non-Life Insurance – Profitability Ratio (%), 2011–2020

Figure 15: German Non-Life Insurance – Total Assets (EUR Billion), 2011–2020

Figure 16: German Non-Life Insurance – Total Investment Income (EUR Billion), 2011–2020

Figure 17: German Non-Life Insurance – Investment Portfolio (EUR Billion), 2011–2020

Figure 18: German Non-Life Insurance – Investment Portfolio Dynamics by Category, 2011–2020

Figure 19: German Non-Life Insurance – Direct Written Premium by Category (EUR Billion), 2011–2020

Figure 20: German Non-Life Insurance – Direct Written Premium Dynamics by Category, 2011–2020

Figure 21: German Property Insurance – Construction Value Output by Category (EUR Billion), 2011–2015

Figure 22: German Property Insurance – Direct Written Premium by Sub-Category (EUR Billion), 2011–2020

Figure 23: German Property Insurance – Direct Written Premium Dynamics by Sub-Category, 2011–2020

Figure 24: German Property Insurance – Number of Policies Sold (Million), 2011–2020

Figure 25: German Property Insurance – Earned Premium, Incurred Loss and Loss Ratio (EUR Billion and %), 2011–2020

Figure 26: German Motor Insurance – Direct Written Premium by Sub-Category (EUR Billion), 2011–2020

Figure 27: German Motor Insurance – Direct Written Premium Dynamics by Sub-Category, 2011–2020

Figure 28: German Motor Insurance – Number of Policies Sold by Sub-Category (Million), 2011–2020

Figure 29: German Motor Insurance – Earned Premium, Incurred Loss and Loss Ratio (EUR Billion and %), 2011–2020

Figure 30: German Liability Insurance – Average Total Cost of Data Breach, 2015

Figure 31: German Liability Insurance – Direct Written Premium (EUR Billion), 2011–2020

Figure 32: German Liability Insurance – Number of Policies Sold (Thousand), 2011–2020

Figure 33: German Liability Insurance – Earned Premium, Incurred Loss and Loss Ratio (EUR Billion and %), 2011–2020

Figure 34: German Marine, Aviation and Transit Insurance – Imports and Exports (EUR Billion), 2010–2015

Figure 35: German Marine, Aviation and Transit Insurance – Outbound Passengers, 2010–2015

Figure 36: Allianz Aviation Insurance – Global Aviation Claims by Type of Claim, 2009–2013

Figure 37: German Marine, Aviation and Transit Insurance – Direct Written Premium (EUR Billion), 2011–2020

Figure 38: German Marine, Aviation and Transit Insurance – Number of Policies Sold (Thousand), 2011–2020

Figure 39: German Marine, Aviation and Transit Insurance – Earned Premium, Incurred Loss and Loss Ratio (EUR Billion and %), 2011–2020

Figure 40: German Non-Life Insurance – Direct Written Premium by Channel (%), 2011, 2015 and 2020

Figure 41: German Economic Loss by Hazards Type, 1990–2014

Figure 42: German – Frequency of Hazards by Type, 1990–2014

Figure 43: German Mortality by Hazards Type, 1990–2014

Figure 44: German Economic Issues of Hazards by Type, 1990–2014

Figure 45: German Non-Life Insurance – Segment Shares of the Leading Insurers (%), 2015

Figure 46: Germany– The Three Pillars of Solvency II

Figure 47: Germany– Insurance Supervision and Control at Various Levels

Figure 48: Germany– Insurance Regulatory Frameworks for Company Registration and Operation

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