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

July 2017 | 169 pages | ID: N3D579D3A29EN
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SYNOPSIS

Timetric’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 Timetric’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.

SUMMARY

Timetric’s 'Non-Life Insurance in Germany, Key Trends and Opportunities to 2020' report provides in-depth market analysis, information and insights into the German non-life insurance segment, including:
  • The German non-life insurance segment’s detailed outlook by product category
  • A comprehensive overview of the German economy and demographics
  • A comparison of the German insurance industry with its regional counterparts
  • The various distribution channels in the German non-life insurance segment
  • Detailed analysis of natural hazards and their impact on the German insurance industry
  • Details of the competitive landscape in the non-life insurance segment in Germany
  • Details of regulatory policy applicable to the German insurance industry
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.
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.
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.
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
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
10.11 Liability Insurance
10.12 Marine, Aviation and Transit Insurance

11 DEFINITIONS AND METHODOLOGY

11.1 Definitions
11.2 Methodology

12 ABOUT TIMETRIC

12.1 Contact Timetric
12.2 About Timetric
12.3 Timetric’s Services
12.4 Disclaimer

LIST OF TABLES

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

LIST OF 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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