Big growth: Arag and Allianz lead the rankings in legal protection insurance

Big growth: Arag and Allianz lead the rankings in legal protection insurance

According to a report by www.versicherungsjournal.de Legal protection insurance providers concluded a total of 23.4 million contracts in 2022, resulting in gross written premiums of 4.7 billion euros. Arag leads Allianz in terms of policy portfolio and premium income. Örag and Huk-Coburg recorded the strongest percentage growth in their market segments.

The report's data shows that the legal protection insurance industry in Germany is a solid and growing industry. The high number of contracts concluded and the increasing premium income indicate continuous growth. This could indicate that consumers are increasingly recognizing the importance of legal protection insurance and the demand for such insurance products is increasing.

The study also identifies the market leaders in the industry, with Arag and Allianz taking the top positions. This could mean that these companies have a dominant position in the market and hold a strong market position. This, in turn, can have an impact on competition and consumer behavior in the industry.

Furthermore, the study shows that some of the market participants experienced stronger growth than others. This could lead to shifts in the market hierarchy and competition between companies. Companies that experience faster growth could increase their market shares and challenge the positioning of other market players.

Analysis of premium development suggests that some companies in the industry are growing faster than others. This could be due to various strategic decisions, product innovations or marketing activities. Companies with higher growth could expand their market shares and gain a larger presence in the market, while other companies may need to rethink their competitive strategy in order to remain competitive.

Overall, the study suggests that the legal protection insurance industry in Germany is a dynamic and growing industry that is characterized by a large number of market participants. The market data provides insights into the competitive landscape, growth potential and strategic challenges faced by companies in this industry.