12.11.2014
Statistical Yearbook of German Insurance 2014

Property & casualty insurance with record claims expenditure

German P&C insurers provided a record sum to their customers in 2013. Claims expenditure accelerated 12 per cent over the previous year to around 50 billion EUR, according to the new Statistical Yearbook of German Insurance published today. This is the highest percentage increase in nearly 25 years.

In the German property & casualty insurance market, never before total claims of this amount had to be settled in one year. The reason for the massive increase in claims expenditure was the extraordinary agglomeration of natural disasters. Summer flooding, various storms and hail alone caused claims of 7 billion EUR.

Further key figures from the annually updated data collection of the German Insurance Association (GDV):

  • With premium income of 187.2 billion EUR (+3.1 per cent), the insurance industry is one of Germany’s most important economic sectors.
  • With investments of 1.4 trillion EUR, the German insurance industry is one of the largest institutional investors in Europe.
  • Insurance premiums correspond to nearly 7 per cent of gross domestic product in Germany (1960: 3 per cent).
  • More than half a million people work in the German insurance industry as employees or on a self-employed basis.
  • Germany remains the world’s leading reinsurance location with a share of 30 per cent of global reinsurance premiums.
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    Statistical Yearbook of German Insurance 2014

     
    Contents

    • Insurance industry overall
    • Life insurance
    • Health insurance
    • Property & Casualty insurance
    • Reinsurance
    • Overall economic data
    • Social statistical data
    • International reference figures

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    Print copies of the Statistical Yearbook of German Insurance 2014 can be purchased from Verlag Versicherungswirtschaft (VVW) at a net price of € 3.80 plus VAT and shipping costs from. The publisher offers scaled prices when you purchase 20 copies or more.

    www.vvw.de
    E-mail: vertrieb@vvw.de
    Fax: +49 721/3509-201

    Single copies may also be obtained free of charge from GDV:

    E-mail: economics@gdv.de
    Fax: +49 30/2020-6616

    More: Contact:
    >> Life insurance by the numbers in 2013
    >> Position paper: Insurers open to dialogue on infrastructure financing
    Christian Ponzel
    Phone: (+49) 30 / 2020 – 5901
    Mail: c.ponzel@gdv.de