In life insurance, payments increased by more than seven percent to just under 84.5 billion euros (vs. 78.7 billion euros in 2018). Private health insurers paid approximately 29.8 billion euros, a good four percent more than in 2018. P&C insurance reports payments to the tune of 53.3 billion euros (+1.7 percent yoy).
Total expenditure increased considerably
Looking at total expenditure, including not only benefits paid but also the growing benefit obligations of life insurers as well as premium refunds and ageing reserves of private health insurers, primary insurance spent a record amount of 240.1 billion euros in 2019; that is a whopping 21.3 percent increase year-over-year.
Premium income of primary insurers stood at just over 217 billion euros in 2019, which is seven percent more than in the previous year. P&C insurance accounts for 73.2 billion euros of that amount, life insurance reported 103.2 billion euros in premium income, and private health insurance earned 41.0 billion euros in premiums.
The Statistical Yearbook not only provides comprehensive performance and business development data for the individual lines of insurance, it also offers information on the macroeconomic and social backdrop as well as international comparisons. You will find excerpts on gdv.de under Zahlen & Fakten. The unabridged Statistical Yearbook can be downloaded free of charge.