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Legal protection insurers increase gross premiums by almost a fifth
Discover the top legal protection insurers with the highest growth rates according to the industry monitor 2017-2022. Itzehoer, Auxilia and DEVK show impressive growth! Find out more now.
Legal protection insurers increase gross premiums by almost a fifth
According to the “Industry Monitor 2017-2022: Legal Protection Insurance” from V.E.R.S. In Leipzig, legal protection insurers have increased their gross premiums written by almost a fifth in the last six years. The highest growth rate was recorded by Itzehoer, which was able to increase its premium volume almost eightfold. Auxilia and DEVK also saw strong growth, each growing around twice as fast as the market.
Overall, the premium volume for legal protection insurance has increased by almost 40 percent in the last ten years, as data from the General Association of the German Insurance Industry shows. In 2016 in particular, the industry recorded an increase of almost six percent. From 2017 to 2022, household contents insurers increased their premium volume by almost a fifth.
According to the “Industry Monitor 2017-2022: Legal Protection Insurance”, some of the largest providers grew significantly less than the market. Neue Rechtsschutz-Versicherungsgesellschaft AG even had to record a decline in premium volume, while eight other companies were able to increase their sales by more than a quarter.
Itzehoer Versicherung/Brandgilde von 1691 VVaG was able to increase its premium volume particularly strongly, which was mainly due to the purchase of the legal protection division of Alten Leipziger Versicherung AG. Auxilia and DEVK also recorded continuous growth, with the latter benefiting primarily from premium adjustments and positive new business.
Other providers with high growth rates in the area of legal protection insurance were Arag SE, LVM Agricultural Insurance Association Münster a.G. as well as Debeka Allgemeine Versicherung AG. These companies were each able to increase their sales by around 30 percent. The market is showing positive development, as shown by the “Industry Monitor 2017-2022: Legal Protection Insurance”.