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Decline in sales in accident insurance: Axa and Nürnberger most affected
Find out which accident insurers in Germany are recording the greatest loss of premiums. Axa and Nuremberg are particularly affected. Study shows details. Find out more!
Decline in sales in accident insurance: Axa and Nürnberger most affected
In the last six years, more than one in four of the 50 largest providers recorded a decline in premium income in private accident insurance. According to the “Industry Monitor 2017-2022: Accident Insurance”, Axa and Nuremberg were most affected by this decline.
The accident insurers organized in the General Association of the German Insurance Industry (GDV) were able to increase their premium volume by a total of 2.3 percent to around 6.33 billion euros from 2017 to 2022. However, only 36 of the 50 players with the highest sales participated in this growth, as shown by the aforementioned industry monitor.
Of the 13 market participants that recorded premium declines, Axa Versicherung AG performed the worst, with a decline of 11.3 percent to less than 211 million euros. Nürnberger Allgemeine Versicherungs-AG also shrank in double digits to under 87 million euros.
Most of the insurers mentioned had continuous declines in revenue, with Axa and Ergo particularly affected. This development is primarily due to providers' reduced or already discontinued participation in accident insurance with guaranteed premium refunds.
The study “Industry Monitor 2017-2022: Accident Insurance” provides further detailed key figures on the largest market players in this segment. Anyone interested can order the complete study as a PDF version for a fee from Maik Entrich by email or telephone.