Liability insurance in Germany: market leaders, rankings and growth - analysis by a financial expert

Liability insurance in Germany: market leaders, rankings and growth - analysis by a financial expert

According to a report from www.versicherungsjournal.de, German providers of general liability insurance achieved sales of around 8.3 billion euros in 2022. Allianz tops the rankings, followed by Axa and Generali. Huk-Coburg-Allgemeine and Württembergische have increased the most among the market sizes, while Provinzial, Generali and Gothaer are recording shrinking stocks. A total of around 48.3 million contracts were in place at the end of 2022, which corresponds to an increase of 1.1 percent.

Most of the policies are held by Allianz, followed by Axa and Generali. Huk-Coburg-Allgemeine had the strongest increase in contracts. In terms of premium volume, Allianz is at the top, followed by R+V and Ergo. Württembergische and Generali have increased their premium volume the most.

The impact on the market is clearly felt as the industry giants have continued to expand their inventory. The growth rates for some insurers are considerable, while other providers are struggling with shrinking stocks. This could lead to a change in market leadership as the rankings change significantly.

For consumers, this means they have a wider choice of providers and can expect intense competition. The industry as a whole is showing solid growth, which can also be attributed to the positive development of the German economy as a whole.

Overall, the liability insurance industry is an important part of the German insurance market and developments in this area have a significant impact on consumers and the economy in general. However, as growth continues and competition increases, consumers can expect better deals and services.