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Non-Life Insurance in Germany, Key Trends and Opportunities to 2019

Published: Jun 18, 2016 | Pages: 165 | Publisher: Timetric | Industry: Insurance | Report Format: Electronic (PDF)



Synopsis
Timetric's 'Non-Life Insurance in Germany, Key Trends and Opportunities to 2019' 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 (2010-2014) and forecast period (2014-2019). 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 2019' 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 2010-2014 review period, and projected figures for the 2014-2019 forecast period. • It offers a detailed analysis of the key categories in the German non-life insurance segment, and market forecasts to 2019. • 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
• Solvency II came into force in Germany on January 1, 2016. It is based on three pillars: risk-based quantitative requirements; governance and supervision; and disclosure and transparency. • Telematics-based insurance is an upcoming trend that is expected to shape the German motor insurance category. German non-life insurers are placing an increasing emphasis on telematics-based products. • German non-life insurance penetration stood at 2.0% in 2014. • Cyber risk is a growing concern in Germany. With Germany moving towards its fourth industrial revolution (industry4.0) and disruptions, the demand for automation will grow, increasing the industry's susceptibility to cyber attacks. Consequently, the industry's reliance on cyber protection insurance to mitigate its losses is expected to increase over the forecast period. • Germany has large number of compulsory insurance classes, such as third-party liability insurance, which is applicable at the federal and federal state levels. • The leading German non-life insurance distribution channels include agencies, brokers, bancassurance, direct marketing and other channels.
 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 5.1.4 Claims 5.1.5 Profitability 5.2 Motor Insurance 5.2.1 Product overview 5.2.2 Premium 5.2.3 Policies 5.2.4 Claims 5.2.5 Profitability 5.3 Liability Insurance 5.3.1 Product overview 5.3.2 Premium 5.3.3 Policies 5.3.4 Claims 5.3.5 Profitability 5.4 Marine, Aviation and Transit Insurance 5.4.1 Product overview 5.4.2 Premium 5.4.3 Policies 5.4.4 Claims 5.4.5 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 E-commerce 6.1.5 Bancassurance 7 Natural Hazards 7.1 Windstorms and Hailstorms 7.2 Flood 7.3 Extreme Temperature and Drought 7.4 Exposure 8 Competitive Landscape 8.1 Company Rankings 8.2 Comparison of the Top Five Insurers 8.2.1 Gross written premium 8.3 Company Profiles 8.3.1 Allianz Versicherung AG - company overview 8.3.2 HDI-Gerling Industrie Versicherung AG - company overview 8.3.3 Axa Versicherung AG - company overview 8.3.4 Allianz Global Corporate & Specialty AG - company overview 8.3.5 R+V Allgemeine Versicherung AG - company overview 9 Governance, Risk and Compliance 9.1 Legislation Overview and Historical Evolution 9.2 Latest Changes in Regulations 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
List of Tables
Table 1: German Non-Life Insurance - Key Facts, 2014 Table 2: German Non-Life Insurance - Segment Shares of the Top Insurers, 2014 Table 3: German Government Credit Ratings Table 4: German Non-Life Insurance - Gross Written Premium (EUR Billion and US$ Billion), 2010-2014 Table 5: German Non-Life Insurance - Penetration (%), 2010-2014 Table 6: German Non-Life Insurance - Gross Written Premium (EUR Billion and US$ Billion), 2014-2019 Table 7: German Non-Life Insurance - Penetration (%), 2014-2019 Table 8: German Non-Life Insurance - Premium per Capita (EUR and US$), 2010-2014 Table 9: German Non-Life Insurance - Premium per Capita (EUR and US$), 2014-2019 Table 10: German Non-Life Insurance - Number of Policies Sold (Million), 2010-2014 Table 11: German Non-Life Insurance - Number of Policies Sold (Million), 2014-2019 Table 12: German Non-Life Insurance - Paid Claims (EUR Billion and US$ Billion), 2010-2014 Table 13: German Non-Life Insurance - Paid Claims (EUR Billion and US$ Billion), 2014-2019 Table 14: German Non-Life Insurance - Profitability Ratio (%), 2010-2014 Table 15: German Non-Life Insurance - Profitability Ratio (%), 2014-2019 Table 16: German Non-Life Insurance - Total Assets (EUR Billion and US$ Billion), 2010-2014 Table 17: German Non-Life Insurance - Total Assets (EUR Billion and US$ Billion), 2014-2019 Table 18: German Non-Life Insurance - Total Investment Income (EUR Billion and US$ Billion), 2010-2014 Table 19: German Non-Life Insurance - Total Investment Income (EUR Billion and US$ Billion), 2014-2019 Table 20: German Non-Life Insurance - Investment Portfolio (EUR Billion), 2010-2014 Table 21: German Non-Life Insurance - Investment Portfolio (EUR Billion), 2014-2019 Table 22: German Non-Life Insurance - Gross Written Premium by Category (EUR Billion), 2010-2014 Table 23: German Non-Life Insurance - Gross Written Premium by Category (EUR Billion), 2014-2019 Table 24: German Property Insurance - Gross Written Premium (EUR Billion), 2010-2014 Table 25: German Property Insurance - Gross Written Premium (EUR Billion), 2014-2019 Table 26: German Property Insurance - Number of Policies Sold (Million), 2010-2014 Table 27: German Property Insurance - Number of Policies Sold (Million), 2014-2019 Table 28: German Property Insurance - Paid Claims (EUR Billion and US$ Billion), 2010-2014 Table 29: German Property Insurance - Paid Claims (EUR Billion and US$ Billion), 2014-2019 Table 30: German Property Insurance - Loss Ratio (%), 2010-2014 Table 31: German Property Insurance - Loss Ratio (%), 2014-2019 Table 32: German Motor Insurance - Number of Vehicles by Type (Thousand), 2010-2015 Table 33: German Motor Insurance - Road Accident Numbers, 2012-2015 Table 34: German Motor Insurance - Gross Written Premium (EUR Billion), 2010-2014 Table 35: German Motor Insurance - Gross Written Premium (EUR Billion), 2014-2019 Table 36: German Motor Insurance - Number of Policies Sold (Million), 2010-2014 Table 37: German Motor Insurance - Number of Policies Sold (Million), 2014-2019 Table 38: German Motor Insurance - Paid Claims (EUR Billion and US$ Billion), 2010-2014 Table 39: German Motor Insurance - Paid Claims (EUR Billion and US$ Billion), 2014-2019 Table 40: German Motor Insurance - Loss Ratio (%), 2010-2014 Table 41: German Motor Insurance - Loss Ratio (%), 2014-2019 Table 42: German Liability Insurance - Gross Written Premium (EUR Billion), 2010-2014 Table 43: German Liability Insurance - Gross Written Premium (EUR Billion), 2014-2019 Table 44: German Liability Insurance - Number of Policies Sold (Million), 2010-2014 Table 45: German Liability Insurance - Number of Policies Sold (Million), 2014-2019 Table 46: German Liability Insurance - Paid Claims (EUR Billion and US$ Billion), 2010-2014 Table 47: German Liability Insurance - Paid Claims (EUR Billion and US$ Billion), 2014-2019 Table 48: German Liability Insurance - Loss Ratio (%), 2010-2014 Table 49: German Liability Insurance - Loss Ratio (%), 2014-2019 Table 50: German Transport Network - Global Rankings Table 51: German Marine, Aviation and Transit Insurance - Freight Carried (Million Ton), 2011-2014 Table 52: German Marine, Aviation and Transit Insurance - Gross Written Premium (EUR Billion), 2010-2014 Table 53: German Marine, Aviation and Transit Insurance - Gross Written Premium (EUR Billion), 2014-2019 Table 54: German Marine, Aviation and Transit Insurance - Number of Policies Sold (Thousand), 2010-2014 Table 55: German Marine, Aviation and Transit Insurance - Number of Policies Sold (Thousand), 2014-2019 Table 56: German Marine, Aviation and Transit Insurance - Paid Claims (EUR Billion and US$ Billion), 2010-2014 Table 57: German Marine, Aviation and Transit Insurance - Paid Claims (EUR Billion and US$ Billion), 2014-2019 Table 58: German Marine, Aviation and Transit Insurance - Loss Ratio (%), 2010-2014 Table 59: German Marine, Aviation and Transit Insurance - Loss Ratio (%), 2014-2019 Table 60: German Non-Life Insurance - Direct Written Premium by Distribution Channel (EUR Billion), 2010-2014 Table 61: German Non-Life Insurance - Direct Written Premium by Distribution Channel (EUR Billion), 2014-2019 Table 62: German Non-Life Insurance - Direct Written Premium by Distribution Channel (%), 2010-2019 Table 63: German Average Annual Loss by Hazard, 1990-2014 Table 64: German Non-Life Insurance - Number of Insurers by Line of Business, 2010-2014 Table 65: German Non-Life Insurance - Number of Property Insurer by Type, 2010-2014 Table 66: German Non-Life Insurance - Number of Motor Insurer by Type, 2010-2014 Table 67: German Non-Life Insurance - Segment Shares (%), 2014 Table 68: Allianz Versicherung - Key Facts Table 69: Allianz Versicherung - Key Financials (EUR Million), 2010-2014 Table 70: HDI-Gerling Industrie Versicherung - Key Facts Table 71: HDI-Gerling Industrie Versicherung - Key Financials (EUR Million), 2010-2014 Table 72: Axa Versicherung - Key Facts Table 73: Axa Versicherung - Key Financials (EUR Million), 2010-2014 Table 74: Allianz Global - Key Facts Table 75: Allianz Global - Key Financials (EUR Million), 2010-2014 Table 76: R+V Allgemeine Versicherung - Key Facts Table 77: R+V Allgemeine Versicherung - Key Financials (EUR Million), 2010-2014 Table 78: Germany - Insurance Regulatory Framework Key Features Table 79: Germany - Life Insurance Regulatory Framework Table 80: Germany - Property Insurance Regulatory Framework Table 81: Germany - Motor Insurance Regulatory Framework Table 82: Germany - Liability Insurance Regulatory Framework Table 83: Germany - Minimum Cover for Aircraft Third-Party Liability Per Accident Per Aircraft Table 84: Germany - Corporate Tax Rates for the Financial Year 2016 Table 85: German Insurance Industry - Policies and Premium, 2010-2014 Table 86: German Insurance Industry - Policies and Premium, 2014-2019 Table 87: German Non-Life Insurance - Claims and Expenses, 2010-2014 Table 88: German Non-Life Insurance - Claims and Expenses, 2014-2019 Table 89: German Non-Life Insurance - Assets and Investments, 2010-2014 Table 90: German Non-Life Insurance - Assets and Investments, 2014-2019 Table 91: German Non-Life Insurance - Direct Marketing, 2010-2014 Table 92: German Non-Life Insurance - Direct Marketing, 2014-2019 Table 93: German Non-Life Insurance - Insurance Brokers and Agencies, 2010-2014 Table 94: German Non-Life Insurance - Insurance Brokers and Agencies, 2014-2019 Table 95: German Non-Life Insurance - Bancassurance and Other Distribution Channels, 2010-2014 Table 96: German Non-Life Insurance - Bancassurance and Other Distribution Channels, 2014-2019 Table 97: German Non-Life Insurance - Property Insurance, 2010-2014 Table 98: German Non-Life Insurance - Property Insurance, 2014-2019 Table 99: German Non-Life Insurance - Property Insurance by Product, 2010-2014 Table 100: German Non-Life Insurance - Property Insurance by Product, 2014-2019 Table 101: German Non-Life Insurance - Motor Insurance, 2010-2014 Table 102: German Non-Life Insurance - Motor Insurance, 2014-2019 Table 103: German Non-Life Insurance - Motor Insurance by Product, 2010-2014 Table 104: German Non-Life Insurance - Motor Insurance by Product, 2014-2019 Table 105: German Non-Life Insurance - Liability Insurance, 2010-2014 Table 106: German Non-Life Insurance - Liability Insurance, 2014-2019 Table 107: German Non-Life Insurance - Marine, Aviation and Transit Insurance, 2010-2014 Table 108: German Non-Life Insurance - Marine, Aviation and Transit Insurance, 2014-2019 Table 109: Insurance Industry Definitions


List of Figures
Figure 1: German Real GDP (US$ Billion), 2010-2019 Figure 2: EUR - US$ Exchange Rate, 2010-2019 Figure 3: German Consumer Price Inflation, 2010-2019 Figure 4: German Current Account Balance as Percentage of GDP (%), 2010-2014 Figure 5: German Unemployment Rate, 2010-2019 Figure 6: German Population by Age Group, 2010-2025 Figure 7: German Non-Life Insurance Penetration - Regional Comparison (%), 2014 Figure 8: German Insurance Segment Direct Written Premium Shares - Regional Comparison (%), 2014 Figure 9: German Non-Life Insurance - Gross Written Premium (EUR Billion), 2010-2019 Figure 10: German Non-Life Insurance - Penetration (%), 2010-2019 Figure 11: German Non-Life Insurance - Premium per Capita (EUR), 2010-2019 Figure 12: German Non-Life Insurance - Number of Policies Sold (Million), 2010-2019 Figure 13: German Non-Life Insurance - Paid Claims (EUR Billion), 2010-2019 Figure 14: German Non-Life Insurance - Profitability Ratio (%), 2010-2019 Figure 15: German Non-Life Insurance - Total Assets (EUR Billion), 2010-2019 Figure 16: German Non-Life Insurance - Total Investment Income (EUR Billion), 2010-2019 Figure 17: German Non-Life Insurance - Investment Portfolio (EUR Billion), 2010-2019 Figure 18: German Non-Life Insurance - Investment Portfolio Dynamics by Category, 2010-2019 Figure 19: German Non-Life Insurance - Gross Written Premium by Category (EUR Billion and US$ Billion), 2010-2019 Figure 20: German Non-Life Insurance - Gross Written Premium Dynamics by Category, 2010-2019 Figure 21: German Property Insurance - Construction Value Output by Category (EUR Billion), 2010-2014 Figure 22: German Property Insurance - Gross Written Premium (EUR Billion), 2010-2019 Figure 23: German Property Insurance - Number of Policies Sold (Million), 2010-2019 Figure 24: German Property Insurance - Paid Claims (EUR Billion), 2010-2019 Figure 25: German Property Insurance - Earned Premium, Incurred Loss and Loss Ratio (EUR Billion and %), 2010-2019 Figure 26: German Motor Insurance - Gross Written Premium (EUR Billion), 2010-2019 Figure 27: German Motor Insurance - Number of Policies Sold (Million), 2010-2019 Figure 28: German Motor Insurance - Paid Claims (EUR Billion), 2010-2019 Figure 29: German Motor Insurance - Earned Premium, Incurred Loss and Loss Ratio (EUR Billion and Percentage), 2010-2019 Figure 30: German Liability Insurance - Average Total Cost of Data Breach, 2014 Figure 31: German Liability Insurance - Gross Written Premium (EUR Billion), 2010-2019 Figure 32: German Liability Insurance - Number of Policies Sold (Million), 2010-2019 Figure 33: German Liability Insurance - Paid Claims (EUR Billion), 2010-2019 Figure 34: German Liability Insurance - Earned Premium, Incurred Loss and Loss Ratio (EUR Billion and Percentage), 2010-2019 Figure 35: German Imports and Exports (EUR Billion), 2010-2015 Figure 36: German Marine, Aviation and Transit Insurance - Outbound Passengers, 2010-2015 Figure 37: Allianz Aviation Insurance - Global Aviation Claims by Type of Claim, 2009-2013 Figure 38: German Marine, Aviation and Transit Insurance - Gross Written Premium (EUR Billion), 2010-2019 Figure 39: German Marine, Aviation and Transit Insurance - Number of Policies Sold (Thousand), 2010-2019 Figure 40: German Marine, Aviation and Transit Insurance - Paid Claims (EUR Billion), 2010-2019 Figure 41: German Marine, Aviation and Transit Insurance - Earned Premium, Incurred Loss and Loss Ratio (EUR Billion and %), 2010-2019 Figure 42: German Non-Life Insurance - Direct Written Premium by Distribution Channel (%), 2010, 2014 and 2019 Figure 43: German Average Annual Loss by Hazard (% Share), 1990-2014 Figure 44: German Frequency of Hazards by Type, 1990-2014 Figure 45: German Mortality by Natural Hazards (Percentage Share), 1990-2014 Figure 46: German Economic issues of Hazards by Type, 1990-2014 Figure 47: German Non-Life Insurance - Segment Shares (%), 2014 Figure 48: Non-Life Gross Written Premium Growth of Top Insurers Relative to the Segment Overall, 2010-2014 Figure 49: Germany - The Three Pillars of Solvency II Figure 50: Germany - Insurance Supervision and Control at Various Levels Figure 51: Germany - Insurance Regulatory Frameworks for Company Registration and Operation

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