New Overview: The State of Insurance in Germany

There is no doubt that Germany is country where insurance thrives–the German culture is one that keeps risk to a minimum through maximum policies to ensure peace of mind. To understand the enormous opportunity that awaits the coming insurtech storm one has to understand where the 157 billion Euro contributions per year end up.

Here are some insights from our newest study:


In Germany, there are 360 insurers in five sectors. Most of them focus on Liabilities & Car insurances (205) and Pension & Burial Funds (175).

Number of insurers in Germany and their distribution over five sectors

Germany ranks number 6 of the the top ten insurance markets globally. This includes over 528,000 employees employed within the insurance industry with Munich, Cologne and Hamburg having the lion’s share of employees. These three cities are the workplace for nearly 80,000 people in the insurance industry.

Number of people employed by the German insurance industry

In total, 395 million individual policies are being administrated and monitored by German insurers. These break down into 91 Million for life insurance, 112 Million for automobile insurance and 192 million for casualty & indemnity insurances.

Number of individual policies being administrated and monitored by German insurers

These numbers lead to an enormous amount of transactions among insurers and policy holders in Germany. There are nearly 530 million Euro of daily pay-outs and 157 Billion Euro of contributions annually. With 83.3 Billion Euro annual paid benefits and 92.7 Billion Euro annual contributions, life insurance is leading this comparison.

Transactions among insurers and policy holders in Germany

You can find our full presentation, An Insurance Overview Deutschland, on Slideshare:

Big thanks to Atilla Kilinc for compiling the presentation data!

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