Household contents insurance: The big losers in the decline in sales!

Household contents insurance: The big losers in the decline in sales!

In the last five years, household contents insurance revenues in Germany have developed significantly. While net revenue across all providers rose by 15% to €3.6 billion, some large insurers recorded significant declines. Loud versicherungsjournal.de Eight of the 50 largest providers lost revenue between 2018 and 2023.

Particularly prominent in this trend is Helvetia Schweizerische Versicherungsgesellschaft AG, which experienced the largest percentage decline of over 11%, resulting in sales of just €29.7 million. Interlloyd Versicherungs-AG and VRK also recorded losses of almost 6% and just under 5%, respectively.

Strong growth differences in the industry

In interim highlights, Provinzial Versicherung AG rose to the top of the list of the most successful providers with a remarkable growth of 132%. Additionally, 41 of the top 50 providers reported positive developments, indicating that the market as a whole is growing, although some insurers continue to struggle. Another example is Dialog Versicherung AG, which suffered a decline of over 20% to 28 million euros between 2019 and 2023.

The declines at Dialog were continuous, although the decline was noted to slow from 9% to under 1%. Furthermore, other providers such as Gothaer Allgemeine Versicherung AG (to 85 million euros), Interrisk Versicherungs-AG (to 15 million euros), HDI Versicherung AG (to 75 million euros), Janitos Versicherung AG (to 13 million euros) and Axa Versicherung AG (to 169 million euros) also recorded declines.

recovery and growth

Despite these challenges, there are also positive developments. Helvetia and VRK were able to get back on track for growth in the last year of the period under review. Interlloyd was successful in the first and last years of the observation period. Gothaer achieved a turnaround in 2022 and increased its growth rate to almost 1% in 2023.

These developments were comprehensively documented in the “Industry Monitor 2024: Household Contents Insurance”. The study contains detailed key figures and data from 2018 to 2023 and offers valuable insights into the dynamics of the market. Further information on this is available on vers-leipzig.de available.