Life Insurance & Pension in Germany
Summary
Life Insurance & Pension in Germany industry profile provides top-line qualitative and quantitative summary information including: market share, market size (value and volume 2018-23, and forecast to 2028). The profile also contains descriptions of the leading players including key financial metrics and analysis of competitive pressures within the market.
Key Highlights
- Life insurance & pension is the financial cover for a contingency linked with human life, like death, disability, accident, retirement etc. Human life is subject to risks of death and disability due to natural and accidental causes. When human life is lost or a person is disabled permanently or temporarily, there is loss of income to the household.
- The German life insurance & pension market recorded gross written premiums of $93.3 billion in 2023, representing a negative compound annual growth rate (CAGR) of 1.1% between 2018 and 2023.
- The life insurance segment accounted for the market's largest proportion in 2023, with total gross written premiums of $47.8 billion, equivalent to 51.2% of the market's overall value.
- The significant drop in GDP growth has created more uncertainty for consumers about their financial security. For instance, according to the Federal Statistical Office of Germany, the real GDP annual growth of Germany stood at negative 0.3% in 2023, as compared to 1.4% in 2022. This negative economic outlook has discouraged consumers from spending more on financial protection and retirement planning.
- Save time carrying out entry-level research by identifying the size, growth, and leading players in the life insurance & pension market in Germany
- Use the Five Forces analysis to determine the competitive intensity and therefore attractiveness of the life insurance & pension market in Germany
- Leading company profiles reveal details of key life insurance & pension market players’ global operations and financial performance
- Add weight to presentations and pitches by understanding the future growth prospects of the Germany life insurance & pension market with five year forecasts by both value and volume
- What was the size of the Germany life insurance & pension market by value in 2023?
- What will be the size of the Germany life insurance & pension market in 2028?
- What factors are affecting the strength of competition in the Germany life insurance & pension market?
- How has the market performed over the last five years?
- Who are the top competitors in Germany's life insurance & pension market?
- 1 Executive Summary
- 1.1. Market value
- 1.2. Market value forecast
- 1.3. Category segmentation
- 1.4. Geography segmentation
- 1.5. Market share
- 1.6. Market rivalry
- 1.7. Competitive landscape
- 2 Market Overview
- 2.1. Market definition
- 2.2. Market analysis
- 3 Market Data
- 3.1. Market value
- 4 Market Segmentation
- 4.1. Category segmentation
- 4.2. Geography segmentation
- 5 Market Outlook
- 5.1. Market value forecast
- 6 Five Forces Analysis
- 6.1. Summary
- 6.2. Buyer power
- 6.3. Supplier power
- 6.4. New entrants
- 6.5. Threat of substitutes
- 6.6. Degree of rivalry
- 7 Competitive Landscape
- 7.1. Market share
- 7.2. Who are the leading players?
- 7.3. What are the strategies of the leading players?
- 7.4. What are the strengths of the leading players?
- 8 Company Profiles
- 8.1. Allianz SE
- 8.2. Assicurazioni Generali SpA
- 8.3. R+V Versicherung AG
- 8.4. Zurich Insurance Group Ltd
- 9 Macroeconomic Indicators
- 9.1. Country data
- 10 Appendix
- 10.1. Methodology
- 10.2. Industry associations
- 10.3. Related MarketLine research
- 10.4. About MarketLine
- List of Tables
- Table 1: Germany life insurance & pension market value: $ billion, 2018-23
- Table 2: Germany life insurance & pension market category segmentation: % share, by value, 2018-23
- Table 3: Germany life insurance & pension market category segmentation: $ billion, 2018-23
- Table 4: Germany life insurance & pension market geography segmentation: $ billion, 2023
- Table 5: Germany life insurance & pension market value forecast: $ billion, 2023-28
- Table 6: Germany life insurance & pension market share: % share, by value, 2023
- Table 7: Allianz SE: Key Facts
- Table 8: Allianz SE: Annual Financial Ratios
- Table 9: Allianz SE: Key Employees
- Table 10: Allianz SE: Key Employees Continued
- Table 11: Assicurazioni Generali SpA: Key Facts
- Table 12: Assicurazioni Generali SpA: Annual Financial Ratios
- Table 13: Assicurazioni Generali SpA: Key Employees
- Table 14: Assicurazioni Generali SpA: Key Employees Continued
- Table 15: R+V Versicherung AG: Key Facts
- Table 16: R+V Versicherung AG: Key Employees
- Table 17: Zurich Insurance Group Ltd: Key Facts
- Table 18: Zurich Insurance Group Ltd: Annual Financial Ratios
- Table 19: Zurich Insurance Group Ltd: Key Employees
- Table 20: Zurich Insurance Group Ltd: Key Employees Continued
- Table 21: Germany Size of Population (million), 2019-23
- Table 22: Germany Real GDP (Constant 2010 Prices, $ Billion), 2019-23
- Table 23: Germany GDP (Current Prices, $ Billion), 2019-23
- Table 24: Germany Inflation, 2019-23
- Table 25: Germany Consumer Price Index (Absolute), 2019-23
- Table 26: Germany Exchange Rate, 2018-23
- List of Figures
- Figure 1: Germany life insurance & pension market value: $ billion, 2018-23
- Figure 2: Germany life insurance & pension market category segmentation: $ billion, 2018-23
- Figure 3: Germany life insurance & pension market geography segmentation: % share, by value, 2023
- Figure 4: Germany life insurance & pension market value forecast: $ billion, 2023-28
- Figure 5: Forces driving competition in the life insurance & pension market in Germany, 2023
- Figure 6: Drivers of buyer power in the life insurance & pension market in Germany, 2023
- Figure 7: Drivers of supplier power in the life insurance & pension market in Germany, 2023
- Figure 8: Factors influencing the likelihood of new entrants in the life insurance & pension market in Germany, 2023
- Figure 9: Factors influencing the threat of substitutes in the life insurance & pension market in Germany, 2023
- Figure 10: Drivers of degree of rivalry in the life insurance & pension market in Germany, 2023
- Figure 11: Germany life insurance & pension market share: % share, by value, 2023
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