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New Market Research Report: Germany Insurance Report 2014

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2013-12-26 00:51:24 - Recently published research from Business Monitor International, "Germany Insurance Report 2014", is now available at Fast Market Research

The newsflow from late 2012 highlights two major themes. One is the resilience of the German insurance sector in the face of challenging economic conditions. Non-life premiums appear to have risen by around 3% in the first half of the year. This is partly thanks to a firming in rates for car insurance and partly because of the passing on to customers of the higher claims costs associated with catastrophes in 2011. As was the case in 2011, combined ratios have been improving: underwriting discipline and cost control continue to come to the fore. In the life segment, a decline in single premium product sales in 2011 was partially offset by a rise in more profitable recurring premium lines. The

leading life insurance companies have indicated that these trends continued in H112.

Full Report Details at

In short, it remains clear that Germany has a clear competitive advantage as a provider of insurance solutions. This is the second major theme. Germany's leadership in insurance has been developed over the long-term as a result of the key protagonists working together to leverage the country's key strengths. An obvious advantage is the long-established concept that insurance is a useful vehicle for reducing the risks associated with unemployment or illness. Within Germany's Social-Market economy, the basic concept is that individuals must pay out of their own pocket in order to ensure that risks are defrayed - even if there is substantial public sector participation as well.

Another key advantage is financial stability and low costs of capital - for a long period. Particular insurers have been able to benefit from associations (ie in terms of branding and distribution) with the powerful Sparkassen savings banks and Raiffeisen co-operative banks. Furthermore, the insurance sector has not faced problems in recruiting the skilled labour that it needs: unlike their counterparts in France (especially), the UK or Italy, Germany's global insurance companies (and massive if domestic-focused organisations) are not concentrated in particular - and very high cost - commercial hubs. For the achievements of Germany's insurance sector, credit is also due to BaFin, the regulator, and the GDV, the trade association. The life segment has in recent years been boosted by the development of pension funds and the pensionskassen -essentially tax advantaged long-term savings schemes which the insurers have been well placed to provide.

Finally, we would note that the structure of the largest insurance companies in Germany is itself an advantage. To a much greater extent than in other developed countries they are (massive) composite insurers. Almost all have substantial life/savings, property & casualty, liability, health and (often) reinsurance operations. All operate through multiple distribution channels, many following multiple brand strategies. Aside from AXA and Generali Deutschland, which are themselves subsidiaries of massive multi-national groups based outside Germany, the German majors typically also have a very good diversification of business outside the country.

Report Table of Contents:

BMI Industry View
- Table: Germany's Total Premiums, 2010-2017
- Insurance
- Political
- Economic
- Business Environment
Industry Forecast
- Life
- Table: Germany's Life Premiums, 2010-2017
- Non Life
- Table: Germany's Non-Life Premiums, 2010-2017
Industry Risk Reward Ratings
- Germany Insurance Risk/Reward Ratings
- Table: Germany's Insurance Risk/Reward Ratings
- Developed States Insurance Risk/Reward Ratings
- Table: Developed States Insurance Risk/Reward Ratings
Market Overview
- Life Sector Update
- Non Life Sector Update
Industry Trends And Developments
- Life Growth Drivers and Risk Management Projections
- Table: Insurance Key Drivers, Demographics 2010-2017
- Non Life Growth Drivers and Risk Management Projections
- Macroeconomic Forecast
- Table: Germany - Economic Activity
- Political Outlook
- Table: Developed States Regional Security Ratings (scores out of 100, with 100 the best)
- Healthcare Sector
- Epidemiology
- Table: Insurance Key Drivers, Disease Adjusted Life Years 2010-2017
- Autos
- Table: Insurance Key Drivers, Autos 2010-2017
Competitive Landscape
Company Profile
- Allianz
- Generali Deutschland
- Munich Re
- Talanx AG
- Zurich Insurance Group
Regional Overview
- Developed States Life Sector Overview
- Table: Developed States Life Premiums, 2010-2017
- Developed States Non Life Sector Overview
- Table: Developed States Non Life Premiums, 2010-2017 (US$mn)
Demographic Forecast
- Demographic Outlook
- Table: Germany's Population By Age Group, 1990-2020 ('000)
- Table: Germany's Population By Age Group, 1990-2020 (% of total)
- Table: Germany's Key Population Ratios, 1990-2020
- Table: Germany's Rural And Urban Population, 1990-2020
- Industry Forecast Methodology
- Risk/Reward Rating Methodology
- Table: Insurance Risk/Reward Ratings Indicators
- Table: Weighting Of Indicators

About Business Monitor International

Business Monitor International (BMI) offers a comprehensive range of products and services designed to help senior executives, analysts and researchers assess and better manage operating risks, and exploit business opportunities, across 175 markets. BMI offers three main areas of expertise: Country Risk BMI's country risk and macroeconomic forecast portfolio includes weekly financial market reports, monthly regional Monitors, and in-depth quarterly Business Forecast Reports. Industry Analysis BMI covers a total of 17 industry verticals through a portfolio of services, including in-depth quarterly Country Forecast Reports. View more research from Business Monitor International at

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