Household contents insurance 2022: Allianz leads the rankings, Provinzial scores with sales

Household contents insurance 2022: Allianz leads the rankings, Provinzial scores with sales

According to a report by www.versicherungsjournal.de, household contents insurers achieved around 3.4 billion euros in gross written premiums with 27.2 million contracts in 2022. Allianz leads the ranking ahead of Generali, followed by Provinzial and Huk-Coburg VVaG. Huk-Coburg-Allgemeine and LVM recorded the strongest growth rates, while Provinzial had the lowest premium growth.

According to the “Statistics on the German Insurance Industry 2023” from GDV, German household contents insurance had around 27.2 million contracts in stock at the end of 2022, which corresponds to an increase of 0.5 percent compared to the previous year. Most of the policies are held by Allianz Versicherungs-AG, followed by Generali Deutschland Versicherung AG and Huk-Coburg Liability Support Fund for Motorized Officials Deutschlands a.G.

In terms of the development of contract portfolios, Allianz and Huk-Coburg-Allgemeine recorded the largest absolute increases, while Provinzial recorded the largest decline. In percentage terms, the Huk-Coburg-Allgemeine and the LVM increased the most, while the Provinzial recorded the largest decline.

The analysis of the premium volumes shows that Allianz and Generali are in first and second place in this area, followed by Provinzial, Axa, R+V and LVM. The development of premiums varies between providers, with LVM, DEVK Allgemeine and Allianz recording the highest rates of increase.

The different developments have led to some position changes in the rankings, with Huk-Coburg-Allgemeine and DEVK Allgemeine moving up compared to the previous year.

Overall, the analysis of the market data shows that the home insurance industry in Germany is dynamic, with different providers recording different growth and decline rates. This is also reflected in the shifts in the rankings. It remains to be seen how these developments will impact the market, consumers and the industry in the future.