Personal Accident and Health Insurance in Germany, Key Trends and Opportunities to 2020

Date: July 27, 2017
Pages: 137
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Publisher: Timetric
Report type: Strategic Report
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ID: P325C2089FDEN
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Personal Accident and Health Insurance in Germany, Key Trends and Opportunities to 2020
SYNOPSIS

Timetric’s 'Personal Accident and Health Insurance in Germany, Key Trends and Opportunities to 2020' report provides detailed analysis of the trends, drivers, challenges in the German personal accident and health insurance segment.

It provides 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, 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 'Personal Accident and Health Insurance in Germany, Key Trends and Opportunities to 2020' report provides in-depth market analysis, information and insights into the German personal accident and health insurance segment, including:
  • The German personal accident and health insurance segment’s growth prospects by insurance category
  • Key trends, drivers and challenges for the personal accident and health insurance segment
  • A comprehensive overview of the German economy and demographics
  • The various distribution channels in the German personal accident and health insurance segment
  • Details of the competitive landscape in the personal accident and health insurance segment in Germany
  • Details of regulatory policy applicable to the German insurance industry
SCOPE

This report provides a comprehensive analysis of the personal accident and health insurance segment in Germany:
  • It provides historical values for the German personal accident and health 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 personal accident and health insurance segment, and market forecasts to 2020.
  • It profiles the top personal accident and health 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 personal accident and health insurance segment, and each category within it.
  • Understand the demand-side dynamics, key market trends and growth opportunities in the German personal accident and health insurance segment.
  • Assess the competitive dynamics in the personal accident and health 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 April 2017, Munich Higher Regional Court stipulated provisions for aggregators to improve online insurance distribution activities. Aggregators are required to provide complete information to website users before completing an insurance contract online.
  • On March 10, 2017, BaFin, the German financial regulatory authority, published a guidance notice on the authorization of joint-stock companies providing health insurance. The guidelines stipulated provisions regarding the documents and information required by BaFin for authorization of businesses providing health insurance.
  • Effective from 2017, the contribution rate for long-term care insurance increased by 0.2 percentage points to 2.55%, or 2.8% for those without children.
  • In 2017, the nursing care system was amended, and the need for long-term care is now based on the extent to which an insured’s abilities are impaired.
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 Profitability
  4.2.4 Assets and investments

5 OUTLOOK BY CATEGORY

5.1 Personal Accident Insurance
  5.1.1 Premium
  5.1.2 Policies
5.2 Health Insurance
  5.2.1 Premium
  5.2.2 Policies
5.3 Travel Insurance
  5.3.1 Premium
  5.3.2 Policies

6 DISTRIBUTION CHANNEL OUTLOOK

6.1 Analysis by Distribution Channel

7 COMPETITIVE LANDSCAPE

7.1 Company Profiles
  7.1.1 Debeka Krankenversicherungsverein AG – company overview
  7.1.2 DKV Deutsche Krankenversicherung AG – company overview
  7.1.3 Allianz Private Krankenversicherungs-AG – company overview
  7.1.4 Axa Krankenversicherung AG – company overview
  7.1.5 Signal Krankenversicherung AG – company overview

8 GOVERNANCE, RISK AND COMPLIANCE

8.1 Legislation Overview and Historical Evolution
8.2 Latest Changes in Regulation
8.3 Legislation and Market Practice by Type of Insurance
  8.3.1 Life insurance
  8.3.2 Property insurance
  8.3.3 Motor insurance
  8.3.4 Liability insurance
  8.3.5 Marine, aviation and transit insurance
  8.3.6 Personal accident and health insurance
8.4 Compulsory Insurance
  8.4.1 Motor third-party liability insurance
  8.4.2 Workmen’s compensation insurance
  8.4.3 Air carriers and aircraft operators insurance
  8.4.4 Professional indemnity insurance for alternative investment fund managers
  8.4.5 Product liability insurance for pharmaceutical manufacturers
  8.4.6 Clinical trial liability insurance
  8.4.7 Operating liability for plants posing a hazard to the environment
  8.4.8 Liability for ships with respect to oil pollution
  8.4.9 Liability insurance against the transport of hazardous and noxious substances by sea
8.5 Supervision and Control
  8.5.1 International Association of Insurance Supervisors
  8.5.2 European Insurance and Occupational Pensions Authority
  8.5.3 Federation of European Risk Management Associations
  8.5.4 Federal Financial Supervisory Authority
  8.5.5 German Insurance Association
8.6 Non-Admitted Insurance Regulations
  8.6.1 Overview
  8.6.2 Intermediaries
  8.6.3 Market practices
  8.6.4 Fines and Penalties
8.7 Company Registration and Operations
  8.7.1 Type of insurance organization
  8.7.2 Establishing a local company
  8.7.3 Foreign ownership
  8.7.4 Types of license
  8.7.5 Capital requirements
  8.7.6 Solvency margin
  8.7.7 Reserve requirements
  8.7.8 Investment regulations
  8.7.9 Statutory return requirements
  8.7.10 Fee structure
8.8 Taxation
  8.8.1 Insurance premium or policy taxation
  8.8.2 Withholding taxes on premium paid overseas
  8.8.3 Corporate tax
  8.8.4 VAT
  8.8.5 Captives
8.9 Legal System
  8.9.1 Introduction
  8.9.2 Access to court
  8.9.3 Alternative dispute resolution

9 DATABOOK

9.1 Policies and Premium
  9.1.1 Claims and expenses
  9.1.2 Assets and investments
  9.1.3 Direct marketing and e-commerce
  9.1.4 Insurance brokers and agencies
  9.1.5 Bancassurance and other distribution channels
  9.1.6 Personal accident insurance
  9.1.7 Health insurance
  9.1.8 Travel insurance

10 DEFINITIONS AND METHODOLOGY

10.1 Definitions
10.2 Methodology

11 ABOUT TIMETRIC

11.1 Contact Timetric
11.2 About Timetric
11.3 Timetric’s Services
11.4 Disclaimer

LIST OF TABLES

Table 1: German Personal Accident and Health Insurance – Key Facts, 2015
Table 2: German Personal Accident and Health Insurance – Segment Shares of the Top Insurers, 2015
Table 3: German Government Credit Ratings
Table 4: German Personal Accident and Health Insurance – Gross Written Premium (Euro Billion and US$ Billion), 2011–2015
Table 5: German Personal Accident and Health Insurance – Penetration (%), 2011–2015
Table 6: German Personal Accident and Health Insurance – Gross Written Premium (Euro Billion and US$ Billion), 2015–2020
Table 7: German Personal Accident and Health Insurance – Penetration (%), 2015–2020
Table 8: German Personal Accident and Health Insurance – Premium per Capita (Euro and US$), 2011–2015
Table 9: German Personal Accident and Health Insurance – Premium per Capita (Euro and US$), 2015–2020
Table 10: German Personal Accident and Health Insurance – Number of Policies Sold (Million), 2011–2015
Table 11: German Personal Accident and Health Insurance – Number of Policies Sold (Million), 2015–2020
Table 12: German Personal Accident and Health Insurance – Profitability Ratio (%), 2011–2015
Table 13: German Personal Accident and Health Insurance – Profitability Ratio (%), 2015–2020
Table 14: German Personal Accident and Health Insurance – Total Assets (Euro Billion and US$ Billion), 2011–2015
Table 15: German Personal Accident and Health Insurance – Total Assets (Euro Billion and US$ Billion), 2015–2020
Table 16: German Personal Accident and Health Insurance – Total Investment Income (Euro Billion and US$ Billion), 2011–2015
Table 17: German Personal Accident and Health Insurance – Total Investment Income (Euro Billion and US$ Billion), 2015–2020
Table 18: German Personal Accident and Health Insurance – Investment Portfolio (Euro Billion), 2011–2015
Table 19: German Personal Accident and Health Insurance – Investment Portfolio (Euro Billion), 2015–2020
Table 20: German Personal Accident and Health Insurance – Direct Written Premium by Category (Euro Billion), 2011–2015
Table 21: German Personal Accident and Health Insurance – Direct Written Premium by Category (Euro Billion), 2015–2020
Table 22: German Personal Accident Insurance – Direct Written Premium (Euro Billion and US$ Billion), 2011–2015
Table 23: German Personal Accident Insurance – Direct Written Premium (Euro Billion and US$ Billion), 2015–2020
Table 24: German Personal Accident Insurance – Number of Policies Sold (Million), 2011–2015
Table 25: German Personal Accident Insurance – Number of Policies Sold (Million), 2015–2020
Table 26: German Health Insurance – Direct Written Premium by Sub-Category (EUR Billion), 2011–2015
Table 27: German Health Insurance – Direct Written Premium by Sub-Category (EUR Billion), 2015–2020
Table 28: German Health Insurance – Number of Policies Sold (Million), 2011–2015
Table 29: German Health Insurance – Number of Policies Sold (Million), 2015–2020
Table 30: German Travel Insurance – Direct Written Premium (Euro Billion), 2011–2015
Table 31: German Travel Insurance – Direct Written Premium (Euro Billion), 2015–2020
Table 32: German Travel Insurance – Number of Policies Sold (Million), 2011–2015
Table 33: German Travel Insurance – Number of Policies Sold (Million), 2015–2020
Table 34: German Personal Accident and Health Insurance – Direct Written Premium by Distribution Channel (Euro Billion), 2011–2015
Table 35: German Personal Accident and Health Insurance – Direct Written Premium by Distribution Channel (Euro Billion), 2015–2020
Table 36: German Personal Accident and Health Insurance – Percentage of Direct Written Premium, by Distribution Channel, 2011–2020
Table 37: German Personal Accident and Health Insurance – Market Shares of Leading Insurers (%), 2015
Table 38: Debeka Krankenversicherungsverein AG – Key Facts
Table 39: Debeka Krankenversicherungsverein AG – Key Financials (US$ Billion), 2011–2015
Table 40: DKV Deutsche Krankenversicherung AG – Key Facts
Table 41: DKV Deutsche Krankenversicherung AG – Key Financials (US$ Billion), 2011–2015
Table 42: Allianz Private Krankenversicherungs-AG – Key Facts
Table 43: Allianz Private Krankenversicherungs-AG – Key Financials (US$ Million), 2011–2015
Table 44: Axa Krankenversicherung AG – Key Facts
Table 45: Axa Krankenversicherung AG – Key Financials (US$ Million), 2011–2015
Table 46: Signal Krankenversicherung AG – Key Facts
Table 47: Signal Krankenversicherung AG – Key Financials (US$ Million), 2011–2015
Table 48: Germany– Insurance Regulatory Framework Key Features
Table 49: Germany– Life Insurance Regulatory Framework
Table 50: Germany– Property Insurance Regulatory Framework
Table 51: Germany– Motor Insurance Regulatory Framework
Table 52: Germany– Liability Insurance Regulatory Framework
Table 53:Germany – Minimum Cover for Aircraft Third-Party Liability Per Accident Per Aircraft
Table 54: Germany– Insurance Premium Tax (IPT)
Table 55: Germany– Corporate Tax Rates for the Financial Year 2017
Table 56: German Personal Accident and Health Insurance Industry – Policies and Premium, 2011–2015
Table 57: German Personal Accident and Health Insurance Industry – Policies and Premium, 2015–2020
Table 58: German Personal Accident and Health Insurance – Claims and Expenses, 2011–2015
Table 59: German Personal Accident and Health Insurance – Claims and Expenses, 2015–2020
Table 60: German Personal Accident and Health Insurance – Assets and Investments, 2011–2015
Table 61: German Personal Accident and Health Insurance – Assets and Investments, 2015–2020
Table 62: German Personal Accident and Health Insurance – Direct Marketing and E-Commerce, 2011–2015
Table 63: German Personal Accident and Health Insurance – Direct Marketing and E-Commerce, 2015–2020
Table 64: German Personal Accident and Health Insurance – Insurance Brokers and Agencies, 2011–2015
Table 65: German Personal Accident and Health Insurance – Insurance Brokers and Agencies, 2015–2020
Table 66: German Personal Accident and Health Insurance – Bancassurance and Other Distribution Channels, 2011–2015
Table 67: German Personal Accident and Health Insurance – Bancassurance and Other Distribution Channels, 2015–2020
Table 68: German Personal Accident and Health Insurance – Personal Accident Insurance, 2011–2015
Table 69: German Personal Accident and Health Insurance – Personal Accident Insurance, 2015–2020
Table 70: German Personal Accident and Health Insurance – Health Insurance, 2011–2015
Table 71: German Personal Accident and Health Insurance – Health Insurance, 2015–2020
Table 72: German Personal Accident and Health Insurance – Travel Insurance, 2011–2015
Table 73: German Personal Accident and Health Insurance – Travel Insurance, 2015–2020
Table 74: 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 Personal Accident and Health Insurance Penetration – Regional Comparison (%), 2015
Figure 8: German Insurance Segment Direct Written Premium Shares – Regional Comparison (%), 2015
Figure 9: German Personal Accident and Health Insurance – Gross Written Premium (Euro Billion), 2011–2020
Figure 10: German Personal Accident and Health Insurance – Penetration (%), 2011–2020
Figure 11: German Personal Accident and Health Insurance – Premium per Capita (Euro), 2011–2020
Figure 12: German Personal Accident and Health Insurance – Number of Policies Sold (Million), 2011–2020
Figure 13: German Personal Accident and Health Insurance – Profitability Ratio (%), 2011–2020
Figure 14: German Personal Accident and Health Insurance – Total Assets (Euro Billion), 2011–2020
Figure 15: German Personal Accident and Health Insurance – Total Investment Income (Euro Billion), 2011–2020
Figure 16: German Personal Accident and Health Insurance – Investment Portfolio (Euro Billion), 2011–2020
Figure 17: German Personal Accident and Health Insurance – Investment Portfolio Dynamics by Category, 2011–2020
Figure 18: German Personal Accident and Health Insurance – Direct Written Premium by Category (Euro Billion), 2011–2020
Figure 19: German Personal Accident and Health Insurance – Direct Written Premium Dynamics by Category, 2011–2020
Figure 20: German Personal Accident Insurance – Direct Written Premium (Euro Billion), 2011–2020
Figure 21: German Personal Accident Insurance – Number of Policies Sold (Million), 2011–2020
Figure 22: German Health Insurance – Direct Written Premium (EUR Billion), 2011–2020
Figure 23: German Health Insurance – Number of Policies Sold (Million), 2011–2020
Figure 24: German Travel Insurance – Direct Written Premium (Euro Billion), 2011–2020
Figure 25: German Travel Insurance – Number of Policies Sold (Million), 2011–2020
Figure 26: German Personal Accident and Health Insurance – Direct Written Premium by Distribution Channel (%), 2011, 2015 and 2020
Figure 27: German Personal Accident and Health Insurance – Market Shares of Leading Insurers (%), 2014
Figure 28: Germany– The Three Pillars of Solvency II
Figure 29: Germany– Insurance Supervision and Control at Various Levels
Figure 30: Germany– Insurance Regulatory Frameworks for Company Registration and Operation
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