The global pet care market is foretold to improve in the forthcoming years as matched to the preceding years and will showcase better sales in various market segments. It is estimated that the global pet care market will grow at a CAGR o…
BMI View: Germany's insurance market is one of the largest and most competitive globally. As well as
being home to well-capitalised multinationals and a broad range of domestic providers, the market also
benefits from robust regulatory oversight and extensive and diversified distribution channels and product
ranges. As a mature market, growth in both the life and non-life sectors is expected to be relatively slow;
however, market fundamentals remain positive and we do expect to see premium growth across all key lines
Key Updates & Forecasts
- The product range in Germany continues to expand, including in major growth areas such as cyber
insurance. Swiss Re announced in September 2016 it is launching a new company in Germany,
CyberSolutions Germany, to provide advance cyber risk protection to medium- and large-size
businesses in the country.
- The non-life sector is already slightly larger than the life sector, accounting for over 54% of premiums
written in 2016. We are forecasting growth in the non-life sector of 2.4%, in local currency terms, in
2016, to a total of EUR108.4bn. Ongoing currency movements mean this will translate to a contraction of
1.2% in US dollar terms to USD116.0bn.