Life Insurance in Germany, Key Trends and Opportunities to 2018, New Report Launched

The German life segment is one of the strongest in Europe, in terms of density and penetration. The German life segment registered a growth of -3.9% due to the impact of the European sovereign debt crisis in 2011. However, the segment recovered in 2013, registering a growth rate of 4.0%. As a result of the difficult economic conditions, German consumers appreciate the features offered by life insurers, such as cover against biometric risks, and old-age guarantees. Biometric risks are those related to death, disability or disease. German consumers have started to invest more in guaranteed-return life insurance products in order to secure their futures. Although low interest rates and volatile capital markets have affected the life segment negatively, it has recorded steady demand. The country’s aging population and rising employment opportunities, driven by the improving European economic environment, are expected to drive the growth of German life segment over the forecast period (2013–2018).

The report provides in-depth market analysis, information and insights into the German life insurance segment, including:

• The German life insurance segment’s growth prospects by life insurance categories
• Key trends and drivers for the life insurance segment
• The various distribution channels in the German life insurance segment
• The detailed competitive landscape in the life insurance segment in Germany
• Detailed regulatory policies of the German insurance industry
• A description of the life reinsurance segment in Germany
• Porter's Five Forces analysis of the life insurance segment
• A benchmarking section on the German life insurance segment in comparison with other countries with GWP>$150bn

Scope

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

• It provides historical values for the German life insurance segment for the report’s 2009–2013 review period and forecast figures for the 2013–2018 forecast period.
• It offers a detailed analysis of the key categories in the German life insurance segment, along with market forecasts until 2018.
• It covers an exhaustive list of parameters, including written premium, incurred loss, loss ratio, commissions and expenses, combined ratio, frauds and crimes, total assets, total investment income and retentions.
• It analyses the various distribution channels for life insurance products in Germany.
• Using Porter’s industry-standard “Five Forces” analysis, it details the competitive landscape in Germany for the life insurance business.
• It provides a detailed analysis of the reinsurance segment in Germany and its growth prospects.
• It profiles the top 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 life insurance segment and each category within it
• Understand the demand-side dynamics, key market trends and growth opportunities within the German life insurance segment
• Assess the competitive dynamics in the life insurance segment, along with the reinsurance segment
• Identify the growth opportunities and market dynamics within key product categories
• Gain insights into key regulations governing the German insurance industry and its impact on companies and the market's future

Key Highlights

• The German life segment is one of the strongest in Europe, in terms of density and penetration.
• The country’s increasing life expectancy was a key growth driver for the life segment during the review period.
• Germany’s aging population will support the growth of individual endowment, general annuity and pension life insurance.
• The life segment held the largest share of the insurance industry during the review period. In 2013, life insurance accounted for 46.9% of the industry’s overall gross written premium.
• The Federal Government and BaFin have made it compulsory for all life insurers to establish a Zinszusatzreserve, an additional provision to the premium reserves, in order to improve life insurers’ risk-bearing capacity.
• The segment is fragmented, with the 10 leading insurers accounting for 54.5% of the gross written premium in 2012.

Spanning Over 306 pages, “Life Insurance in Germany, Key Trends and Opportunities to 2018” report covering the Regional Market Dynamics, Life Insurance Segment – Regional Benchmarking, German Insurance Industry Attractiveness, Life Insurance Outlook, Analysis by Distribution Channel, Porter’s Five Forces Analysis – German Life Insurance, Reinsurance Growth Dynamics and Challenges, Governance, Risk and Compliance, Competitive Landscape and Strategic Insights, Business Environment and Country Risk, Appendix. The report covered companies are - Allianz Lebensversicherungs AG, R+V Lebensversicherungs AG, AachenMünchener Lebensversicherung AG, Generali Lebensversicherungs AG, Zurich Deutscher Herold Debeka Lebensversicherung AG, Ergo Lebensversicherung AG, Cosmos Lebensversicherung AG, Nurnberger Lebensversicherung AG, Bayern Versicherung

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