Statistical Yearbook of German Insurance 2020...German Insurance Association Wilhelmstraße 43/43G, 10117 Berlin Tel.: +49 30 2020-5131 Fax: +49 30 2020-6616 [email protected] The German

StatisticalYearbook of German Insurance2020

Gesamtverband der Deutschen Versicherungswirtschaft e. V.

Imprint

Published by:Gesamtverband der Deutschen Versicherungswirtschaft e. V. (GDV) German Insurance Association Wilhelmstraße 43/43G, 10117 Berlin Tel.: +49 30 2020-5131 Fax: +49 30 2020-6616www.gdv.de [email protected] German Insurance Association (GDV) is listed in the Joint Transparency Register of the European Commission and the European Parliament for interest representatives. The GDV identification number is 6437280268-55.The contents of this publication have been created with the required diligence. However, it cannot be guaranteed that the information pro-vided is complete, correct, up-to-date or appropriate; it is the reader’s responsibility to decide on the use of the information.

Responsible for content: Jörg Asmussen

Editor: Jakob Hohenstein

Assistant editors: Samuel Bretschner, Lena Grimm, Vincent Gurgul, Ramona Merkl

Picture: Title: iStockphoto/Zffoto

ISSN 0936-1960

I

II

Preface

We are experiencing a severe pandemic. The Corona-virus has changed our way of life and it has led to an economic recession without precedent. Especially in these difficult times the insurance industry is an important partner for society and economy. More than 446 million in-surance contracts clearly demonstrate that. For their customers, the German insurers provide more than 650 million Euro of insurance benefits per day. What is more, in the event of a claim insurance companies not only pay damages but also provide direct help and assistance. And insurers use their accumulated knowledge of prevention to help reduce or eliminate risks.

As long-term investors of 1.75 trillion euros, the German insur-ance industry is also a crucial source of funding for both the private and the public sector.

For many years, the Statistical Yearbook of German Insurance has provided a wealth of information on the development of the insurance sector and its social and economic environment. We trust that the 2020 edition, especially in these times of high uncertainty, will again prove a useful and reliable source of information to contribute to a better understanding of the insurance industry among experts and the general public.

Berlin, August 2020

Dr. Wolfgang Weiler Dr. Frank von Fürstenwerth

IV

Insurance industry overall 1–25

Life insurance 26–45

Healthcare insurance 46–57

Property & casualty insurance 58–86

Reinsurance 87–90

Overall economic data 91–116

Social statistical data 117–123

International reference figures 124–141

Content

V

List of tables

Insurance industry overallKey figures of private insurance 1Insurance companies by class of business 2Insurance companies by legal form 3Insurance companies and premium income by federal state 4Insurance premium income by class of business 5Insurance premium income by legal form 6Insurance benefits by class of business 7Insurance portfolio by class of business 8Insurance density and insurance penetration by class of

business 9Employment in the insurance industry by federal state 10Employees in the insurance industry by field of activity 11Self-employed insurance intermediaries and advisers 12Share of distribution channels in new business in the

insurance industry 13Development of the investments of the insurance industry 14Investment portfolio of the insurance industry 15Investment portfolio of primary insurers 16Selected alternative investments of primary insurers 17Solvability of the insurance industry 18Foreign-controlled German primary insurers 19Foreign primary insurers with German business by way of

European passport 20German insurance business written by primary insurers

based inside the EEA 21Cross-border direct investment in the insurance industry 22Market concentration in primary insurance 23Insurance industry in comparison to other industries 24Insurance premium tax and fire brigade tax 25

Life insurance Life insurance companies by legal form 26Business development

– life insurance, Pensionskassen and pension funds 27– in life insurance 28

VI

– of Pensionskassen 29– of pension funds 30

Premium income in life insurance 31Life insurance, Pensionskassen and pension funds

– regular and single premiums 32– premiums by type of insurance 33

Life insurance – regular and single premiums 34– premiums by type of insurance 35

New business in life insurance by type of business 36Riester pensions: business in force and new business 37Basisrenten: business in force and new business 38Occupational pensions: direct insurance and reinsurance

business in force 39Supplementary insurance business in force in life

insurance 40Insurance benefits in life insurance 41Cash benefits paid in life insurance 42Investment portfolio of life insurance companies 43Long-term business development

– of Pensionskassen 44– of pension funds 45

Healthcare insurance Healthcare insurance companies by legal form 46Business development in healthcare insurance 47Premium income in healthcare insurance by type of

insurance 48Private comprehensive healthcare and compulsory

long-term care insurance, business in force 49Selected types of private healthcare insurance,

business in force 50Additional insurance to statutory healthcare insurance,

business in force 51Insurance benefits in healthcare insurance 52Insurance benefits paid in healthcare insurance

– by type of insurance 53– by type of benefit 54

Compulsory long-term care insurance 55Additional long-term care insurance 56

List of tables

VII

Investment portfolio of healthcare insurance companies 57

Property & casualty insurance Property & casualty insurance companies by legal form 58Business development in property & casualty insurance 59Premium income in property & casualty insurance

by class 60Claims expenditure in property & casualty insurance

by class 61Technical results in property & casualty insurance

by class 62Number of contracts and claims in property & casualty

insurance 63Number of contracts in property & casualty insurance

by class 64Number of claims in property & casualty insurance

by class 65Business development

– in motor insurance (total) 66– in motor vehicle third party liability insurance 67– in motor vehicle full and partial own damage

insurance 68– in motor vehicle full own damage insurance 69– in motor vehicle partial own damage insurance 70– in motor accident insurance 71– in property insurance (total) 72– in private property insurance 73– in comprehensive insurance on buildings 74– in comprehensive insurance on contents 75– in non-private property insurance 76– in industrial/commercial/agricultural property

insurance 77– in engineering insurance 78– in general liability insurance 79– in private accident insurance 80– in legal expenses insurance 81– in marine and aviation insurance 82

Premium income in marine and aviation insurance by class 83

List of tables

VIII

Business development – in credit, surety and fidelity insurance 84– in roadside assistance 85

Investment portfolio of property & casualty insurance companies 86

Reinsurance Premium income and claims expenditure of reinsurance

companies 87Premium income of reinsurance companies by class 88Technical results of reinsurance companies by class 89Investment portfolio of reinsurance companies 90

Overall economic data Development of population 1950–2060 91Development of life expectancy 92Development of mortality 93Development of number of households 94Volume and structure of employment 95Gross domestic product and its components

– at current prices 96– price-adjusted 97

Private and public investment 98Building activity and stock of residential buildings and

dwellings 99Business start-ups and insolvencies 100Healthcare sector 101Number of vehicles on the road 102Road accidents 103Transportation of goods 104Wages and salaries 105Disposable income, consumption and savings 106Consumer price index for private households 107Development of selected price indices 108Expenditure on motor vehicles 109Assets of private households 110Financial assets of private households by type of

investment 111Acquisition of financial assets by private households

by type of investment 112

List of tables

IX

Acquisition of financial assets by private households in the long term 113

Incidence of private and occupational pension schemes 114Equipment of private households with durable goods 115Interest rates, bond yields and share prices 116

Social statistical data Social welfare budget by function, type and source

of finance 117Statutory pension insurance 118Statutory healthcare insurance 119Social long-term care insurance 120Statutory accident insurance 121Statutory unemployment insurance 122Tax-financed basic social security systems 123

International reference figures The world’s largest insurance markets

– primary insurance (total) 124– life insurance 125– non-life insurance 126

Insurance density and penetration of important countries – primary insurance (total) 127– life insurance 128– non-life insurance 129

Premium income of the largest reinsurance locations 130Population in selected advanced economies 131Employment in selected advanced economies 132Gross domestic product in selected advanced economies 133Consumer prices and savings ratio in selected advanced

economies 134Financial situation of private households in Europe 135Public finances in selected advanced economies 136Cross-border economic relations 137Interest rates and bond yields in selected advanced

economies 138Share prices, residential property prices and oil price 139Exchange rates 140Economy and population in selected emerging markets 141

List of tables

XI

Abbreviations

AGV Arbeitgeberverband der Versicherungsunternehmen in Deutschland (Employers’ Association of Insurance Companies)

ALG Arbeitslosengeld (unemployment benefits)a.o. and othersBA Bundesagentur für Arbeit (Federal Employment

Agency)BaFin Bundesanstalt für Finanzdienstleistungsaufsicht

(Federal Financial Supervisory Authority) until 2002 Bundesaufsichtsamt für das Versicherungswesen (BAV) (Federal Supervisory Office for Insurance Companies)

BFS Bundesamt für Statistik (Schweiz) (Federal Statistical Office (Switzerland))

BI business interruption insuranceBIS Bank for International SettlementsBMAS Bundesministerium für Arbeit und Soziales

(Federal Ministry of Labour and Social Affairs)BMF Bundesministerium der Finanzen

(Federal Ministry of Finance)BMG Bundesministerium für Gesundheit

(Federal Ministry of Health)DAX Deutscher Aktienindex (German Stock Index)DIHK Deutscher Industrie- und Handelskammertag

(Association of German Chambers of Industry and Commerce)

DIW Deutsches Institut für Wirtschaftsforschung (German Institute for Economic Research)

DM Deutsche MarkDRV Deutsche Rentenversicherung

(German Federal Pension Insurance Agency)ECB European Central BankEEA European Economic AreaEI engineering insuranceESA European System of AccountsEStG Einkommensteuergesetz (Income Tax Act)EU European Union

XII

EUROSTAT Statistical Office of the European CommunitiesFRG Federal Republic of GermanyGDP gross domestic productGDV Gesamtverband der Deutschen

Versicherungswirtschaft e.V. (German Insurance Association)

GNP gross national productGewO Gewerbeordnung

(Trade, Commerce and Industry Regulation Act)IMF International Monetary Fundins. insurance/insurersMA motor accidentOECD Organisation for Economic Co-operation and

Developmentpara. paragraphPKV Verband der Privaten Krankenversicherung e.V.

(Association of German Private Healthcare Insurers)

SCR Solvency Capital RequirementSE European stock corporation (Societas Europaea)SGB Sozialgesetzbuch (Social Security Code)StBA Statistisches Bundesamt

(Federal Statistical Office)TPL third party liabilityUN United NationsWTO World Trade Organization – value equal to zero° value not availablex value not meaningful

Abbreviations

Key figures of private insurance01

1980 1990 2000 2010 2017 2018 2019

insurance companies1 (numbers)

total 809 729 659 582 528 528 530of which:

life insurers 108 109 119 95 84 85 83healthcare insurers 51 55 55 48 46 46 46property & casualty ins. 344 322 254 211 200 199 204reinsurers 33 28 41 36 28 29 29

premium income (in EUR m)

primary insurance2, 3 36,000 69,888 131,335 178,844 198,012 203,076 217,3874

life insurance3 13,215 27,403 61,225 90,355 90,644 92,608 103,218healthcare insurance 4,830 9,546 20,712 33,270 39,049 39,804 40,9634

property & casualty ins.5, 6 17,955 32,939 49,398 55,219 68,320 70,665 73,205reinsurance7 7,141 13,713 28,843 36,191 50,733 48,643 °

share of premium income in premium income primary insurance (as %)

life insurance3 36.7 39.2 46.6 50.5 45.8 45.6 47.5healthcare insurance 13.4 13.7 15.8 18.6 19.7 19.6 18.8property & casualty ins.5, 6 49.9 47.1 37.6 30.9 34.5 34.8 33.7

insurance benefits (in EUR m)

primary insurance8 34,076 71,253 152,534 189,253 214,557 197,901 240,0794

life insurance8, 9 15,157 34,909 88,080 107,361 117,077 99,741 141,296healthcare insurance10 4,567 9,504 24,050 38,612 47,362 45,670 45,4414

property & casualty ins.5, 11 14,352 26,840 40,404 43,281 50,118 52,490 53,342

insurance portfolio (numbers in m)

primary insurance3 232.0 284.5 371.1 418.3 434.6 438.3 446.24

investment portfolio (in EUR bn)

primary and reinsurers8 126.2 321.7 802.7 1,256.4 1,635.5 1,667.9 °

employment (numbers in 1,000)

insurance industry ° ° ° 561.6 513.0 495.4 489.3employees12 ° 254.7 299.7 298.2 292.2 291.2 290.9self-employed ins. intermediaries/advisers13 ° ° ° 263.5 220.8 204.1 198.5

1 life, healthcare, property & casualty insurers, reinsurers, Pensionskassen and funeral expenses funds under German federal supervision carrying on actual business as per end of year

2 written gross premiums3 from 2010 incl. Pensionskassen and pension funds covered by the GDV statistics4 provisional figure5 German direct business; without cyber insurance, nuclear insurance and pecuniary

damage liability insurance; until 2002 without fidelity insurance; until 2009 without aviation insurance as well as aircraft and spacecraft liability insurance

6 without insurance premium tax; insurance classes covering fire incl. fire brigade tax7 earned premiums of reinsurers incl. additional charges, net of retrocession8 without Pensionskassen and pension funds; from 2015 incl. deposit receivables from

the insurance business assumed as reinsurance cover9 cash benefits paid to policyholders and increase in liabilities to policyholders10 total expenditures on benefits paid, premium refunds and allocations to ageing reserve11 gross claims incurred for the accounting year12 employees subject to social security contributions in primary insurance and reinsurance

companies and insurance intermediation firms as at 30 June of the respective year13 as per end of year

Source: compilation from following tables

02Insurance companies by class of business

year

federal supervision

federal and Land

supervision2

total number of insurance

companies1

of which:

life insurers

healthcare insurers

property & casualty

insurers reinsurers

numbers

19543 864 95 100 295 34 8,2841960 939 102 101 218 34 9,8531970 810 107 67 289 31 7,3901980 809 108 51 344 33 3,3431990 729 109 55 322 28 2,6591995 677 121 58 268 32 2,1571998 682 119 58 266 43 2,0371999 677 120 57 263 44 1,9832000 659 119 55 254 41 1,8822001 640 116 55 249 40 1,8252002 645 110 55 238 43 1,7792003 640 106 54 235 45 1,7162004 633 105 54 231 44 1,6692005 632 104 53 227 47 1,6382006 613 100 52 222 45 1,5922007 609 100 51 224 41 1,5922008 607 99 51 222 41 1,5162009 596 96 51 217 38 1,4862010 582 95 48 211 36 1,4642011 578 94 48 215 34 1,4652012 565 92 48 210 31 1,4432013 560 90 48 210 29 1,4242014 548 87 47 206 30 1,4012015 539 84 47 205 28 1,3512016 534 84 46 201 29 1,2942017 528 84 46 200 28 1,2782018 528 85 46 199 29 1,2652019 530 83 46 204 29 °

1 life insurers, healthcare insurers, property & casualty insurers, reinsurers, Pensionskass-en and funeral expenses funds under German supervision carrying on actual business as per end of year

2 incl. insurance companies without actual business3 as at 31 March 1954

Source: BaFin

03Insurance companies* by legal form**

yearjoint stock

companies1

mutual insurance

associations

insurance insti-tutions under

public law other2

numbers

1954 110 684 22 321960 125 646 16 461970 140 527 16 461980 196 406 12 1021990 281 352 47 812000 317 287 25 162001 302 273 23 172002 323 271 21 192003 329 269 19 122004 328 270 17 102005 321 267 18 102006 315 267 18 92007 321 267 18 92008 307 268 18 62009 313 267 17 62010 301 267 17 72011 300 261 17 62012 293 258 17 62013 291 254 18 72014 278 254 18 62015 275 250 18 62016 271 246 17 82017 272 243 17 62018 273 241 17 4

* life insurers, healthcare insurers, property & casualty insurers, reinsurers, Pensionskas-sen and funeral expenses funds under German supervision carrying on actual business, without small mutual insurance associations under Land supervision mostly limited to a particular region; until 1980 only insurance companies under federal supervision; as per end of year

** joint stock companies that due to their ownership structure are part of the public sector and joint stock companies whose shareholders are mutual insurance associations are included in joint stock companies

1 incl. SE2 mostly German branches of foreign-based insurance companies, from 2000 without

branches of insurance companies based inside the EEA

Source: BaFin, own calculations

04 Insurance companies and premium income by federal state*

federal state 1995 2000 2005 2010 2017 2018

number of insurance companies

Baden-Wuerttemberg 50 49 49 46 46 47Bavaria 94 86 76 73 70 69Berlin 15 11 12 11 13 13Brandenburg – 1 1 1 1 1Bremen 5 5 2 2 2 2Hamburg 59 53 41 37 30 31Hesse 62 55 45 39 31 30Lower Saxony 48 53 50 51 47 47Mecklenburg- Western Pomerania – – – – – –

North Rhine- Westphalia 128 119 118 108 100 100

Rhineland-Palatinate 5 5 6 6 5 5Saarland 11 10 6 6 6 6Saxony 2 2 2 2 2 2Saxony-Anhalt 2 2 2 2 2 2Schleswig-Holstein 14 13 13 15 13 12Thuringia – – – – – –Germany 495 464 423 399 368 367

premium income in EUR m1

Baden-Wuerttemberg 14,593 19,407 24,614 28,923 34,444 36,462Bavaria 43,737 51,379 64,174 66,304 88,161 88,989Berlin 2,858 729 1,506 1,238 1,296 1,265Brandenburg – 24 100 149 304 314Bremen 296 304 26 28 30 30Hamburg 12,689 13,412 13,864 11,154 9,248 9,049Hesse 12,587 15,355 16,971 15,016 17,955 19,014Lower Saxony 10,180 12,349 17,066 21,695 30,459 32,479Mecklenburg- Western Pomerania – – – – – –

North Rhine- Westphalia 42,023 46,930 56,066 61,726 67,068 68,363

Rhineland-Palatinate 3,443 4,983 6,942 8,862 10,427 10,710Saarland 788 1,328 1,829 2,993 3,077 3,174Saxony 72 224 375 573 759 732Saxony-Anhalt 75 116 159 228 288 294Schleswig-Holstein 1,084 1,708 2,247 2,383 2,480 2,637Thuringia – – – – – –Germany 144,426 168,248 205,939 221,272 265,996 273,512

* life, healthcare, property & casualty insurers and reinsurers under German supervision (incl. public insurers under Land supervision) as per end of year without small mutual insurance associations under Land supervision mostly limited to a particular region, assignment to federal state by company headquarters

1 earned gross premiums

Source: BaFin

05Insurance premium income* by class of business

year

primary insurance1, 2 life1health-

care2

property &

casualty6total regular3 total regular4 single5

in EUR m

1950 1,174 ° 405 ° ° 227 5421960 4,501 ° 1,537 ° ° 639 2,3251970 13,676 ° 5,068 ° ° 2,068 6,5401980 36,000 35,419 13,215 12,634 579 4,830 17,9551990 69,888 68,507 27,403 26,022 1,381 9,546 32,9391995 111,459 107,480 45,201 41,223 3,978 16,408 49,8502000 131,335 124,555 61,225 54,444 6,781 20,712 49,3982005 157,984 148,584 75,244 65,844 9,400 27,348 55,3922010 178,844 151,812 90,355 63,323 27,031 33,270 55,2192012 181,587 158,850 87,340 64,603 22,737 35,628 58,6192013 187,432 161,505 90,826 64,899 25,927 36,051 60,5562014 192,580 163,305 93,676 64,400 29,275 36,323 62,5812015 193,905 165,808 92,659 64,563 28,095 36,822 64,4222016 194,329 167,927 90,774 64,372 26,402 37,258 66,2962017 198,013 171,545 90,643 64,176 26,467 39,049 68,3202018 203,076 175,221 92,608 64,752 27,856 39,804 70,6652019 217,3877 179,2597 103,218 65,091 38,127 40,9637 73,205

change against previous year as %

2012 2.0 2.4 0.6 1.1 -0.7 2.8 3.52013 3.2 1.7 4.0 0.5 14.0 x 3.38

2014 2.7 1.1 3.1 -0.8 12.9 0.8 3.32015 0.7 1.5 -1.1 0.3 -4.0 1.4 2.79

2016 0.2 1.3 -2.0 -0.3 -6.0 1.2 2.92017 1.9 2.2 -0.1 -0.3 0.2 4.8 3.12018 2.6 2.1 2.2 0.9 5.2 1.9 3.42019 7.07 2.37 11.5 0.5 36.9 2.97 3.59

average annual rates of change as %

1950–1960 14.4 ° 14.3 ° ° 10.9 15.71960–1970 11.8 ° 12.7 ° ° 12.5 10.91970–1980 10.2 ° 10.1 ° ° 8.9 10.61980–1990 6.9 6.8 7.6 7.5 9.1 7.1 6.31990–2000 6.5 6.2 8.4 7.7 17.2 8.1 4.12000–2010 3.1 2.0 4.0 1.5 14.8 4.9 1.12010–2019 2.2 1.9 1.5 0.3 3.9 2.3 3.2

* written gross premiums1 from 2005 incl. Pensionskassen and pension funds covered by the GDV statistics2 from 2013 figures not comparable to previous years due to a change in the collection of

data3 without single premiums from life insurance4 until 2000 incl. single premiums from supplementary insurance in life insurance5 until 2000 without single premiums from supplementary insurance in life insurance6 German direct business; without insurance premium tax; insurance classes covering fire

incl. fire brigade tax; without cyber insurance, nuclear insurance and pecuniary damage liability insurance; until 2002 without fidelity insurance; until 2009 without aviation insurance as well as aircraft and spacecraft liability insurance

7 provisional figure8 statistical special effect, adjusted rate of change: 3.5 %9 adjusted rate of change due to a change in basic population

Source: GDV; PKV; BaFin

06 Insurance premium income* by legal form**

yearjoint stock

companies1

mutual insurance

associations

insurance insti-tutions under

public law other2

market share as %3

1951 61.1 31.6 4.5 2.81960 64.3 27.8 3.8 4.11970 64.0 28.0 4.2 3.819754 63.7 28.0 4.5 3.81980 63.8 27.5 4.8 3.91985 62.3 27.8 5.9 4.019904 69.1 19.9 8.3 2.61995 73.3 19.3 5.9 1.51996 74.1 18.7 6.0 1.21997 73.8 18.9 6.0 1.31998 75.4 18.2 5.0 1.31999 75.6 17.9 5.1 1.32000 77.5 17.0 4.4 1.02001 80.2 15.4 3.3 1.12002 81.9 15.0 2.0 1.12003 83.5 14.1 1.5 0.92004 83.2 14.5 1.5 0.92005 82.7 14.9 1.5 0.92006 82.6 15.0 1.5 0.92007 83.0 14.6 1.4 0.92008 82.6 15.1 1.5 0.82009 81.8 15.8 1.5 0.92010 82.6 15.0 1.5 0.92011 82.5 15.2 1.4 0.82012 82.3 15.4 1.5 0.82013 82.7 15.0 1.5 0.82014 82.8 15.0 1.5 0.72015 82.8 15.0 1.5 0.72016 83.5 14.3 1.5 0.72017 83.2 14.8 1.4 0.62018 83.2 14.7 1.4 0.6

* life insurers, healthcare insurers, property & casualty insurers, reinsurers, Pensionskas-sen and funeral expenses funds, until 1985 without reinsurance companies; until 1970 insurance companies under German federal supervision, from 1975 to 1989 insurance companies under federal and Land supervision, from 1990 insurance companies under German supervision without small mutual insurance associations under Land supervision mostly limited to a particular region

** joint stock companies that due to their ownership structure are part of the public sector and joint stock companies whose shareholders are mutual insurance associations are included in joint stock companies

1 incl. SE2 mostly German establishments of foreign-based insurance companies, from 1995

without establishments of insurance companies based inside the EEA3 share of legal form in gross premiums; until 1985 written gross premiums, from 1990

earned gross premiums4 due to modified classification, figures not comparable to previous year


07Insurance benefits by class of business

year

total of primary

insur-ance1, 2

life1 healthcare2

property & casualty5total3

of which: benefits

paid to pol-icy-holders total4

of which: benefits

paid to pol-icy-holders

in EUR m

1980 34,101 15,157 5,788 4,567 3,592 14,3521990 71,253 34,909 17,888 9,504 7,085 26,8401995 116,695 61,742 30,817 16,804 10,719 38,1492000 152,534 88,080 49,405 24,050 13,615 40,4042005 164,722 94,625 64,007 30,455 17,300 39,6432008 146,310 70,780 71,876 33,648 20,169 41,8822009 181,735 104,646 71,196 35,191 21,121 41,8972010 189,253 107,361 71,915 38,612 21,916 43,2812011 175,266 93,008 84,971 38,484 22,774 43,7742012 196,483 111,506 75,745 40,729 23,287 44,2492013 205,739 114,392 79,417 41,695 24,349 49,6532014 207,948 120,395 84,418 42,168 24,791 45,3852015 208,781 116,501 82,002 44,134 25,908 48,1462016 208,111 115,028 87,667 43,830 26,592 49,2532017 214,557 117,077 76,910 47,362 27,206 50,1182018 197,897 99,741 78,683 45,666 28,580 52,4902019 240,0796 141,296 84,484 45,4416 29,8156 53,342


2009 24.2 47.8 -0.9 4.6 4.7 0.02010 4.1 2.6 1.0 9.7 3.8 3.32011 -7.4 -13.4 18.2 -0.3 3.9 1.12012 12.1 19.9 -10.9 5.8 2.3 1.12013 x 2.6 4.8 x x 12.22014 1.1 5.2 6.3 1.1 1.8 -8.62015 0.4 -3.2 -2.9 4.7 4.5 5.97

2016 -0.3 -1.3 6.9 -0.7 2.6 2.32017 3.1 1.8 -12.3 8.1 2.3 1.82018 -7.8 -14.8 2.3 -3.6 5.1 4.72019 21.36 41.7 7.4 -0.56 4.36 1.7


1980–1990 7.6 8.7 11.9 7.6 7.0 6.51990–2000 7.9 9.7 10.7 9.7 6.7 4.22000–2010 2.2 2.0 3.8 4.8 4.9 0.72010–2019 2.7 3.1 1.8 1.8 3.5 2.3

1 without Pensionskassen and pension funds2 from 2013 figures not comparable to previous years due to a change in the collection of

data3 cash benefits paid to policyholders and increase in liabilities to policyholders4 total expenditures on benefits paid, premium refunds and allocations to ageing reserve5 gross claims incurred for the accounting year, German direct business; without cyber

insurance, nuclear insurance and pecuniary damage liability insurance; until 2002 without fidelity insurance; until 2009 without aviation insurance and aircraft as well as spacecraft liability insurance

6 provisional figure7 adjusted rate of change due to a change in basic population

Source GDV; PKV

08Insurance portfolio by class of business

yeartotal of prima-ry insurance1, 2 life1 healthcare2, 3

property & casualty4

contracts (numbers in m)

1980 232.0 65.7 8.5 157.81985 251.9 67.5 9.6 174.91990 284.5 72.4 11.8 200.31995 ° 81.1 ° 242.82000 371.1 87.6 21.3 262.12005 397.1 96.9 25.5 274.72008 412.2 96.3 29.6 286.22009 414.7 95.1 30.3 289.42010 418.3 94.2 30.9 293.22011 421.0 93.6 31.5 296.02012 423.3 93.0 32.0 298.32013 424.3 91.8 32.8 299.720145 426.8 92.4 33.2 301.22015 428.9 91.0 33.6 304.32016 431.0 89.2 33.9 307.92017 434.6 88.0 34.3 312.42018 438.3 87.7 34.8 315.82019 446.26 87.1 35.46 323.7


2009 0.6 -1.3 2.3 1.12010 0.9 -0.9 1.9 1.32011 0.7 -0.7 2.0 1.02012 0.5 -0.6 1.8 0.82013 x -1.2 x 0.520145 x x 1.2 0.77

2015 0.5 -1.6 1.1 1.02016 0.5 -1.9 0.9 1.22017 0.9 -1.4 1.2 1.42018 0.9 -0.3 1.4 1.12019 1.86 -0.7 1.96 1.37


1980–1990 2.1 1.0 3.3 2.41990–2000 2.7 1.9 6.1 2.72000–2010 1.2 0.7 3.8 1.12010–2019 0.7 -0.9 1.5 1.1

1 from 2005 incl. Pensionskassen and pension funds covered by the GDV statistics2 from 2013 figures not comparable to previous years due to a change in the collection of

data3 number of persons with comprehensive cover and supplementary insurance contracts,

without compulsory long-term care insurance and special types of insurance4 German direct business; without cyber insurance, nuclear insurance and pecuniary

damage liability insurance; until 2000 without marine insurance; until 2006 without credit, surety and fidelity insurance; until 2009 without aviation insurance and aircraft as well as spacecraft liability insurance

5 as at 1 January 2014 in life insurance a residual debt insurance portfolio was transferred from a non-member to a member company, figures not comparable to previous year

6 provisional figure7 adjusted rate of change due to a change in basic population

Source: GDV; PKV; BaFin

09Insurance density and insurance penetration by class of business

year1

insurance density2 insurance penetration4

total life3health-

careproperty

& casualty total life3health-

careproperty

& casualty

in EUR as %

1950 23 ° ° ° 2.36 ° ° °1960 80 ° ° ° 2.91 ° ° °1970 224 ° ° ° 3.79 ° ° °1980 459 169 62 229 4.57 1.68 0.61 2.281991 989 387 131 470 5.02 1.97 0.67 2.391992 1,074 426 143 504 5.13 2.03 0.68 2.411993 1,180 474 162 545 5.49 2.20 0.75 2.541994 1,289 520 177 591 5.74 2.32 0.79 2.631995 1,362 552 201 609 5.87 2.38 0.86 2.631996 1,401 579 214 608 5.97 2.47 0.91 2.591997 1,445 615 226 603 6.03 2.57 0.94 2.521998 1,471 640 236 595 5.98 2.60 0.96 2.421999 1,550 715 242 592 6.17 2.85 0.96 2.362000 1,597 744 252 601 6.21 2.89 0.98 2.332001 1,639 759 263 616 6.20 2.87 1.00 2.332002 1,708 791 280 638 6.38 2.96 1.04 2.382003 1,790 831 300 659 6.65 3.09 1.11 2.452004 1,844 853 320 672 6.70 3.10 1.16 2.442005 1,916 913 332 672 6.87 3.27 1.19 2.412006 1,967 953 346 668 6.77 3.28 1.19 2.302007 1,982 960 358 663 6.48 3.14 1.17 2.172008 2,006 971 370 666 6.42 3.11 1.18 2.132009 2,096 1,042 385 669 6.97 3.46 1.28 2.222010 2,188 1,105 407 675 6.93 3.50 1.29 2.1420115 2,217 1,081 432 705 6.59 3.21 1.28 2.092012 2,255 1,085 442 728 6.58 3.17 1.29 2.132013 2,321 1,125 446 750 6.63 3.21 1.28 2.142014 2,372 1,154 447 771 6.57 3.19 1.24 2.132015 2,360 1,128 448 784 6.36 3.04 1.21 2.112016 2,355 1,100 451 803 6.20 2.90 1.19 2.122017 2,392 1,095 472 825 6.10 2.79 1.20 2.112018 2,446 1,115 479 851 6.05 2.77 1.19 2.1120196 2,614 1,241 493 880 6.33 3.00 1.19 2.13

1 until 1980 former FRG territory, from 1991 Germany2 written gross premiums of primary insurers, in relation to inhabitants3 from 2001 incl. Pensionskassen and pension funds covered by the GDV statistics4 written gross premiums of primary insurers, in relation to GDP5 insurance density: revision of population statistics, figures not comparable to previous

year6 partly provisional figures

Source: GDV

10 Employment in the insurance industry by federal state

federal state total1em-

ployees2

self-em-ployed ins.

interme-diaries/

advisers3 total1em-

ployees2

self-em-ployed ins.

interme-diaries/

advisers3

numbers in 1,000

2008 2015

Baden-Wuerttemberg 68.2 33.2 35.0 67.0 33.2 33.7Bavaria 102.3 58.7 43.7 107.2 63.0 44.3Berlin 18.9 10.9 8.0 18.0 10.9 7.1Brandenburg 12.1 2.8 9.4 10.9 2.8 8.1Bremen 4.5 3.2 1.3 4.3 3.1 1.2Hamburg 26.1 22.1 3.9 24.7 20.7 4.1Hesse 44.6 26.0 18.6 45.6 28.1 17.5Lower Saxony 40.3 19.9 20.4 42.7 23.6 19.1Meckl.-West. Pomeran. 8.2 2.9 5.3 6.9 2.3 4.6North-Rhine Westphal. 120.2 74.8 45.4 119.6 76.1 43.5Rhineland-Palatinate 20.0 7.5 12.5 19.9 8.1 11.8Saarland 7.2 3.8 3.4 6.6 3.8 2.8Saxony 23.8 8.1 15.7 22.4 8.5 13.9Saxony-Anhalt 10.9 3.4 7.5 9.7 3.0 6.7Schleswig-Holstein 12.6 5.0 7.6 13.0 5.5 7.5Thuringia 12.1 3.3 8.8 10.7 3.0 7.7Germany 531.9 285.3 246.6 529.0 295.6 233.4

2018 2019

Baden-Wuerttemberg 64.2 35.5 28.7 63.4 35.3 28.1Bavaria 97.4 60.2 37.2 96.3 60.4 36.0Berlin 17.1 10.4 6.7 16.8 10.1 6.6Brandenburg 9.5 2.6 6.9 9.4 2.7 6.7Bremen 4.2 3.1 1.1 4.0 3.0 1.1Hamburg 22.6 18.7 3.9 22.4 18.6 3.8Hesse 43.6 28.0 15.6 43.5 28.3 15.2Lower Saxony 40.9 24.1 16.8 40.6 24.2 16.4Meckl.-West. Pomeran. 6.0 2.1 3.9 5.8 2.1 3.7North-Rhine Westphal. 115.5 75.9 39.6 114.7 76.0 38.7Rhineland-Palatinate 18.5 8.3 10.2 18.2 8.3 9.9Saarland 6.1 3.7 2.4 5.9 3.7 2.3Saxony 20.1 7.8 12.3 19.6 7.8 11.8Saxony-Anhalt 8.5 2.9 5.6 8.2 2.8 5.4Schleswig-Holstein 11.9 5.2 6.7 11.7 5.3 6.5Thuringia 9.2 2.6 6.5 8.7 2.4 6.3Germany 495.44 291.2 204.14 489.3 290.9 198.5

1 employees subject to social security contributions in primary insurance and reinsurance companies and insurance intermediation firms as well as self-employed insurance intermediaries/advisers

2 employees subject to social security contributions in primary insurance and reinsurance companies and insurance intermediation firms; as at 30 June

3 as per end of year4 due to different cut-off dates the sum of self-employed insurance intermediaries/

advisers by federal states differs from the overall number of self-employed insurance intermediaries/advisers (201,600)

Source: AGV/BA; DIHK; GDV

11Employees in the insurance industry by field of activity*

year1 total2insurance companies

total3 office staff trainees4 field staff

numbers in 1,000

1950 ° 54.2 ° ° °1960 ° 116.2 ° ° °1970 ° 189.5 134.9 11.2 43.41980 ° 202.3 152.1 10.5 39.71985 ° 197.3 147.0 13.2 37.11990 254.7 233.2 167.2 15.9 50.11991 268.6 251.9 183.6 17.1 51.21992 279.8 259.0 184.9 17.4 56.71993 283.9 255.9 181.9 17.2 56.81994 281.4 250.0 180.5 14.8 54.71995 273.8 245.6 179.2 13.3 53.11996 ° 241.7 177.5 12.2 52.01997 269.3 239.3 175.2 12.7 51.41998 292.8 238.8 174.6 13.9 50.31999 293.6 239.6 174.0 14.8 50.82000 299.7 240.2 174.3 15.4 50.52001 302.5 245.4 178.2 15.9 51.32002 312.4 248.1 179.7 16.1 52.32003 311.1 244.3 178.1 15.2 51.02004 308.4 240.8 176.6 14.1 50.12005 306.1 233.3 171.5 13.1 48.72006 299.1 225.7 167.6 12.2 45.92007 292.0 218.9 162.9 11.7 44.32008 285.3 216.3 161.5 11.6 43.22009 300.0 216.5 160.3 12.6 43.62010 298.2 216.4 160.2 13.2 43.02011 300.4 215.5 160.4 13.3 41.82012 301.3 214.1 160.6 13.1 40.42013 300.9 212.7 160.3 12.7 39.72014 296.25 211.1 160.6 12.1 38.42015 295.6 210.4 161.2 11.9 37.32016 295.8 207.2 159.8 11.4 36.02017 292.2 204.7 159.4 11.1 34.22018 291.2 201.9 158.9 10.7 32.32019 290.9 202.0 159.4 10.6 32.0

* BA data for insurance industry not directly comparable to AGV data for insurance companies

1 until 1985 former FRG territory, from 1990 Germany2 employees subject to social security contributions in primary insurance and reinsurance

companies and insurance intermediation firms; as at 30 June3 office staff, field staff and trainees, without employees in passive phase of partial

retirement according to the Partial Retirement Act; as per end of year4 Kaufleute für Versicherungen und Finanzen (insurance and finance clerks), general office

occupations a.o.5 revised figure for 2014

Source: AGV; AGV/BA

12 Self-employed insurance intermediaries and advisers*

year total

insurance intermediaries

insurance advisers4total

tied insurance interme-

diaries1

insurance agents

with authori-

zation2

insur-ance

brokers

product accessory interme-

diaries3

numbers in 1,000

2008 246.6 246.4 172.6 32.5 38.9 2.5 0.22009 255.5 255.4 176.7 33.8 42.0 2.9 0.22010 263.5 263.3 182.2 33.8 44.2 3.0 0.22011 257.8 257.6 175.8 33.1 45.6 3.1 0.22012 253.4 253.1 171.8 32.0 46.3 3.1 0.32013 246.8 246.5 165.7 31.1 46.5 3.1 0.32014 239.6 239.3 158.7 30.6 46.8 3.3 0.32015 233.4 233.1 152.9 30.1 46.6 3.4 0.32016 228.3 228.0 147.6 29.9 46.7 3.7 0.32017 220.8 220.5 140.2 29.7 46.8 3.8 0.32018 201.6 201.3 121.3 28.9 46.5 4.5 0.32019 198.5 198.1 118.7 28.4 46.3 4.8 0.3

* as per end of year, 2008: as at April 20091 tied agents registered by insurance companies under section 34d para. 4 GewO2 tied agents representing one or multiple insurance companies licensed by the

competent Chamber of Industry and Commerce3 traders who mediate insurance as a supplement to the products or services provided as

part of their principal activity and perform their activity as an insurance intermediary on direct behalf of one or several insurance intermediaries who have received authorization or of one or several insurance companies (section 34d para. 3 GewO)

4 traders who provide professional insurance advice without remuneration from an insurance company or being otherwise dependent on it (section 34e GewO)

Source: DIHK

13Share of distribution channels in new business in the insurance industry

2015 2016 2017 2018 2019as %

life insurance1

single-tied or insurance group intermediaries 40.4 40.8 39.6 39.8 38.5

as main occupation 34.5 35.2 34.1 34.5 33.4as side job 1.0 1.0 0.9 0.8 0.7employed field staff 4.9 4.6 4.6 4.5 4.4

brokers and multiple agents 33.2 33.7 34.9 35.4 35.5brokers 26.7 26.7 28.0 28.6 29.0multiple agents 6.5 7.0 6.9 6.8 6.5

credit institutions 20.5 19.7 18.3 18.5 18.8as single-tied intermediaries 14.4 13.7 12.2 12.2 12.2as brokers and multiple agents 6.1 6.0 6.1 6.3 6.6

direct selling2 3.0 2.2 2.8 2.9 3.3other 2.9 3.6 4.4 3.4 3.9

healthcare insurance3






property & casualty insurance4






1 according to total of mediated premiums2 incl. comparison websites3 according to mediated monthly premium4 property, accident, liability, motor and legal expenses insurance; according to mediated

annual premium

Source: GDV

14 Development of the investments of the insurance industry*

year

accounting year's balance sheet values1

net new in- vestments2

gross new investments

disinvestments

in EUR bn

change against

previous year as % in EUR bn in EUR bn

change against

previous year as % in EUR bn

change against

previous year as %

19603 10.555 x 1.518 2.203 x 0.685 x1970 37.494 x 3.620 6.208 x 2.298 x1975 72.385 x 8.224 14.992 x 6.450 x1980 126.231 x 12.837 25.340 x 11.278 x1985 211.946 x 20.117 45.823 x 24.800 x1990 321.699 x 23.201 70.032 x 43.090 x1995 521.448 11.2 48.962 136.466 7.3 85.877 6.81996 573.918 10.1 53.094 150.191 10.1 95.522 11.21997 630.373 9.8 54.350 161.625 7.6 105.179 10.11998 688.436 9.2 57.346 200.391 24.0 139.939 33.01999 751.493 9.2 66.667 208.785 4.2 143.520 2.62000 802.660 6.8 53.288 205.450 -1.6 137.147 -4.42001 871.529 8.6 71.682 284.509 38.5 206.910 50.92002 927.026 6.4 64.077 368.107 29.4 273.052 32.02003 981.143 5.8 54.028 350.596 -4.8 282.387 3.42004 1,010.280 3.0 29.068 284.862 -18.7 251.179 -11.12005 1,068.036 5.7 61.489 308.377 8.3 248.013 -1.32006 1,114.884 4.4 57.152 367.042 19.0 307.978 24.22007 1,151.337 3.3 39.941 375.926 2.4 330.566 7.32008 1,164.096 1.1 24.680 407.665 8.4 365.200 10.52009 1,193.930 2.6 37.965 381.510 -6.4 340.306 -6.82010 1,239.526 3.8 54.875 382.733 0.3 324.414 -4.72011 1,270.767 2.5 30.690 374.410 -2.2 336.584 3.82012 1,325.259 4.3 56.038 372.071 -0.6 316.280 -6.02013 1,376.929 3.9 52.583 391.676 5.3 336.553 6.42014 1,432.755 4.1 55.419 401.706 2.6 345.253 2.62015 1,490.259 4.0 58.470 449.512 11.9 385.150 11.62016 1,549.695 4.0 64.556 343.538 -23.6 277.372 -28.02017 1,596.175 3.0 51.230 375.489 9.3 327.784 18.22018 1,640.143 2.8 46.950 352.180 -6.2 301.150 -8.1


1960–70 13.5 x 9.1 10.9 x 12.9 x1970–80 12.9 x 13.5 15.1 x 17.2 x1980–90 9.8 x 6.1 10.7 x 14.3 x1990–00 9.6 x 8.7 11.4 x 12.3 x2000–10 4.4 x 0.3 6.4 x 9.0 x2010–18 3.6 x -1.9 -1.0 x -0.9 x

* life, healthcare, property & casualty insurers and reinsurers, without Pensionskassen and pension funds; data from BaFin’s primary insurance and reinsurance statistics

1 without deposit receivables from business assumed as reinsurance cover and investments where the risk is carried by policyholders (in particular from unit-linked life insurance)

2 difference between investments at the beginning and end of the year3 property & casualty insurers without property, livestock and hail insurers and mutual

ship insurance associations

Source: BaFin

15Investment portfolio of the insurance industry*

2011 2016 2017 2018 2019

in EUR bn

life insurers 742.7 885.1 909.2 930.4 965.3healthcare insurers 189.6 260.7 273.0 288.0 302.2property & casualty insurers 138.0 164.9 168.8 167.5 174.8reinsurers 242.1 285.9 284.5 282.0 °total 1,312.4 1,596.6 1,635.5 1,667.9 °total of primary insurers 1,070.4 1,310.7 1,351.0 1,385.9 1,442.4

by class of business primary

insurers, totallife

insurershealthcare

insurersproperty

& casualty insurers

2019

in EUR bn

bonds and debentures 1,176.2 800.7 253.4 122.1shares 83.0 50.3 18.4 14.2participating interests 104.9 63.7 13.3 27.9real estate 53.4 34.5 11.3 7.6other investments 24.9 16.1 5.9 3.0total 1,442.4 965.3 302.2 174.8

as % of investments

bonds and debentures 81.5 82.9 83.8 69.9shares 5.8 5.2 6.1 8.1participating interests 7.3 6.6 4.4 16.0real estate 3.7 3.6 3.7 4.3other investments 1.7 1.7 1.9 1.7total 100.0 100.0 100.0 100.0

* without Pensionskassen and pension funds; as per end of year; incl. deposit receivables from the insurance business assumed as reinsurance cover; without investments where the investment risk is carried by the policyholder (in particular from unit-linked life insurance)

Source: BaFin, GDV

16 Investment portfolio of primary insurers*: in absolute figures

type of investment 2011 2015 2016 2017 20181 2019

in EUR bn

bonds and debentures2 949.5 1,090.4 1,115.4 1,147.3 1,154.8 1,176.2mortgages3 54.7 56.0 58.3 62.0 72.0 76.6loans ° ° ° ° 411.1 391.2bearer bonds and other fixed-income securities ° ° ° ° 283.1 296.7

bonds and debentures held in funds 220.3 312.0 332.9 349.8 383.5 407.0

deposits at credit institutions ° ° ° ° 5.0 4.7

shares 30.2 56.3 61.7 68.5 71.6 83.0participating interests4 38.2 42.8 57.5 51.2 90.2 104.9real estate 36.1 44.3 46.6 52.1 46.7 53.4other investments 16.4 25.2 29.5 31.9 22.5 24.9total 1,070.4 1,259.0 1,310.7 1,351.0 1,385.9 1,442.4


1 due to modified classification, figures not comparable to previous years2 breakdown only available from 2018 onwards due to modified classification3 from 2018 incl. mortgage and bond claims4 from 2018 incl. investments in affiliated companies

Source: BaFin, GDV

16Investment portfolio of primary insurers*: in percentages

type of investment 2011 2015 2016 2017 20181 2019

as %

bonds and debentures2 88.7 86.6 85.1 84.9 83.3 81.5mortgages3 5.1 4.5 4.4 4.6 5.2 5.3loans ° ° ° ° 29.7 27.1bearer bonds and other fixed-income securities ° ° ° ° 20.4 20.6

bonds and debentures held in funds 20.6 24.8 25.4 25.9 27.7 28.2

deposits at credit institutions ° ° ° ° 0.4 0.3

shares 2.8 4.5 4.7 5.1 5.2 5.8participating interests4 3.6 3.4 4.4 3.8 6.5 7.3real estate 3.4 3.5 3.6 3.9 3.4 3.7other investments 1.5 2.0 2.2 2.4 1.6 1.7total 100.0 100.0 100.0 100.0 100.0 100.0


1 due to modified classification, figures not comparable to previous years2 breakdown only available for 2018 onwards due to modified classification3 from 2018 incl. mortgage and bond claims4 from 2018 incl. investments in affiliated companies

Source: BaFin, GDV

t18Selected alternative investments of primary insurers*

17

2005 2010 2017 2018 2019type of investment in EUR bn (share in total investments as %)

primary insurers, total1

private equity2 2.9 (0.3) 7.8 (0.6) 18.8 (1.2) 21.5 (1.4) ° (°)asset-backed securities and credit-linked notes 12.6 (1.3) 13.5 (1.2) 10.5 (0.8) 9.9 (0.7) 11.1 (0.8)

hedge funds3, 4 4.2 (0.4) 5.5 (0.5) 3.8 (0.3) ° (°) ° (°)investments with commodity risks4 ° (°) ° (°) 3.4 (0.3) ° (°) ° (°)

life insurers5

private equity6 2.1 (0.3) 5.0 (0.7) 11.2 (1.2) ° (°) ° (°)asset-backed securities and credit-linked notes 9.1 (1.4) 9.1 (1.3) 6.8 (0.8) 5.3 (0.6) 6.2 (0.6)


healthcare insurers



property & casualty insurers



* as per end of year1 incl. Pensionskassen2 direct and indirect investment, incl. Pensionskassen and funeral expenses funds; 2018:

as at June 20183 investments in hedge funds and tied to hedge funds4 directly and in funds5 without Pensionskassen and pension funds6 direct and indirect investments

Source: BaFin, GDV

Solvability of the insurance industry*18

reporting date

insurance companies subject to

Solvency II

standard formula

users

solvency ratio

own funds eligible for

SCR

solvency capital

requirement (SCR)

numbers numbers as % in EUR bn in EUR bn

life insurance1

1 January 2016 84 77 283 108.8 38.431 December 2016 84 73 344 120.6 35.131 December 2017 83 72 401 126.3 31.531 December 2018 84 73 461 126.4 27.431 December 2019 84 74 387 131.9 34.1



reinsurance


* 2016: figures for total market, source: Bafin; 2017, 2018, 2019: companies under Bafin supervision, figures for total market in life insurance, market coverage in property & causualty insurance and reinsurance in 2017 and 2018 over 98 % respectively, in 2019 property & causualty insurance with 90% and reinsurance with 95%, source: GDV

1 without Pensionskassen and pension funds

Source: BaFin; GDV

19 Foreign primary insurers with German business by way of European passport

Foreign-controlled German primary insurers*

country of origin

total1 life insurers healthcare insurers


2018

premiums in EUR m2 (number of insurance companies)

France 10,993.1 (8) 3,154.0 (2) 3,131.0 (1) 4,708.0 (5)United Kingdom 24.8 (2) 24.8 (1) - (-) 0.0 (1)Italy 10,346.8 (9) 4,574.7 (3) 2,044.9 (2) 3,727.2 (4)Netherlands 440.6 (2) 440.6 (2) - (-) - (-)Austria 122.5 (1) - (-) - (-) 122.6 (1)Spain 323.0 (1) - (-) - (-) 323.0 (1)total EU 22,250.9 (23) 8,194.2 (8) 5,175.9 (3) 8,880.9 (12)Russia 0.1 (1) - (-) - (-) 0.1 (1)Switzerland 5,094.0 (6) 4,026.9 (3) - (-) 1,067.1 (3)other countries 7,210.2 (7) 6,856.8 (5) 352.8 (1) 0.6 (1)total 34,555.2 (37) 19,077.9 (16) 5,528.7 (4) 9,948.6 (17)

market share as %3

total 16.1 21.6 13.9 11.4

* German insurance companies with foreign direct or indirect majority interests of more than 50 %; allocation by country of origin according to majority shareholder’s headquarters

1 without Pensionskassen and pension funds2 written gross premiums3 share of written gross premiums

Source: BaFin

20Foreign primary insurers with German business by way of European passport

year1

branchesoperating by

way of freedom of services2

life non-lifeEEA non-EEA EEA non-EEA

numbers

2000 13 4 70 11 5362001 14 4 72 8 5522002 17 4 69 9 6102003 17 4 69 8 6472004 19 4 68 7 6902005 16 4 69 8 7582006 17 3 58 6 8042007 18 3 61 6 8212008 21 3 62 6 8872009 21 3 57 6 9192010 19 2 60 4 9262011 18 2 60 4 9382012 17 2 60 3 9312013 18 2 59 3 8992014 18 2 59 3 8862015 18 2 63 3 8822016 17 2 62 2 8542017 18 1 64 2 8202018 18 1 70 2 823

1 as per end of year2 only companies from the EEA

Source: BaFin

21 German insurance business written by primary insurers based inside the EEA*

year

premiums in EUR m1 (market share as %2)

total through branchesby way of freedom

of services

life

1996 214 (0.4) 155 (0.3) 59 (0.1)2000 1,211 (1.9) 162 (0.3) 1,049 (1.7)2008 5,158 (6.4) 999 (1.2) 4,159 (5.2)2009 4,321 (5.1) 1,066 (1.3) 3,255 (3.9)2010 4,667 (5.1) 1,161 (1.3) 3,506 (3.9)2011 4,888 (5.6) 2,261 (2.6) 2,627 (3.0)2012 4,702 (5.4) 2,235 (2.6) 2,467 (2.8)2013 4,903 (5.4) 2,297 (2.6) 2,606 (2.8)2014 4,755 (5.1) 2,389 (2.5) 2,366 (2.5)2015 4,934 (5.4) 2,289 (2.5) 2,645 (2.9)2016 4,703 (5.2) 2,492 (2.8) 2,211 (2.5)2017 5,177 (5.7) 2,688 (3.0) 2,489 (2.8)2018 5,031 (5.4) 2,582 (2.8) 2,449 (2.6)

non-life

1996 641 (0.9) 518 (0.7) 123 (0.2)2000 846 (1.2) 455 (0.6) 391 (0.5)2008 3,254 (3.6) 1,960 (2.2) 1,294 (1.4)2009 3,991 (4.2) 2,368 (2.5) 1,623 (1.7)2010 4,028 (4.3) 2,503 (2.7) 1,526 (1.6)2011 6,090 (6.2) 4,290 (4.4) 1,800 (1.8)2012 5,480 (5.4) 3,788 (3.7) 1,691 (1.7)2013 6,351 (6.1) 4,632 (4.4) 1,718 (1.6)2014 7,894 (7.4) 5,558 (5.2) 2,336 (2.2)2015 6,614 (6.1) 4,996 (4.6) 1,619 (1.5)2016 5,514 (5.1) 4,455 (4.1) 1,059 (1.0)2017 5,924 (5.2) 4,598 (4.0) 1,326 (1.2)2018 6,313 (5.4) 4,731 (4.0) 1,582 (1.3)

total

1996 855 (0.7) 673 (0.6) 182 (0.2)2000 2,057 (1.5) 617 (0.5) 1,440 (1.1)2008 8,412 (4.9) 2,959 (1.7) 5,453 (3.2)2009 8,312 (4.7) 3,434 (1.9) 4,878 (2.7)2010 8,694 (4.7) 3,664 (2.0) 5,030 (2.7)2011 10,978 (5.9) 6,551 (3.5) 4,427 (2.4)2012 10,182 (5.4) 6,023 (3.2) 4,158 (2.2)2013 11,253 (5.8) 6,929 (3.5) 4,324 (2.2)2014 12,649 (6.3) 7,946 (4.0) 4,703 (2.3)2015 11,548 (5.8) 7,285 (3.6) 4,263 (2.1)2016 10,217 (5.1) 6,947 (3.5) 3,271 (1.6)2017 11,101 (5.4) 7,286 (3.6) 3,815 (1.9)2018 11,344 (5.4) 7,313 (3.5) 4,031 (1.9)

* primary insurance companies based in other EEA countries1 written gross premiums, direct business2 share in total direct business in Germany


Cross-border direct investment in the insurance industry*

German insurance business written by primary insurers based inside the EEA*

22Cross-border direct investment in the insurance industry*

year

German direct investment in foreign insurance companies

claims arising from outward direct

investment relations1

liabilities arising from outward direct

investment relations

balanced direct investments

totalof which:

EU members2

in EUR bn

1995 11.103 ° ° °2000 25.963 ° ° °2003 29.610 ° ° °2004 30.967 ° ° °2005 33.056 ° ° °2006 31.590 ° ° °2007 40.735 ° ° °2008 44.342 ° ° °2009 51.761 ° ° °2010 59.678 6.169 53.509 28.3072011 67.285 8.948 58.336 26.9042012 75.136 9.237 65.898 31.6762013 71.105 13.662 57.442 28.0972014 78.143 14.343 63.800 29.0982015 83.121 14.652 68.469 26.8472016 84.438 18.026 66.413 21.6902017 86.628 17.920 68.708 27.7832018 86.970 17.622 69.347 27.281

year

foreign direct investment in German insurance companies

liabilities arising from inward direct

investment relations1

claims arising from inward direct invest-

ment relations

balanced direct investments

totalof which:

EU members2

in EUR bn

1995 3.425 ° ° °2000 5.493 ° ° °2003 5.526 ° ° °2004 7.577 ° ° °2005 9.705 ° ° °2006 10.613 ° ° °2007 15.475 ° ° °2008 15.647 ° ° °2009 15.562 ° ° °2010 17.075 11.615 5.460 2.6452011 15.066 12.101 2.965 0.3972012 16.169 12.430 3.739 0.4312013 17.588 12.417 5.171 2.0182014 19.930 12.603 7.327 3.7882015 18.185 13.109 5.076 2.0202016 18.549 12.136 6.413 2.8542017 15.481 12.568 2.913 -0.8582018 15.070 11.930 3.140 0.282

* stock as per end of year; direct investment relations in primary insurance, reinsurance, Pensionskassen, pension funds and benevolent funds; direct investment relations of insurance holding companies not included

1 from 2010 due to modified classification, figures not comparable to previous years2 from 2010 EU 27, from 2013 EU 28

Source: Deutsche Bundesbank

23Market concentration in primary insurance

market share of the … largest insurance groups as %1

2009 2010 2014 2015 2016 2017 2018

life insurance

5 48.52 48.11 50.12 48.67 49.43 50.97 51.9910 67.90 68.06 68.03 67.24 67.44 68.85 69.6515 78.42 78.75 78.96 78.63 78.63 78.98 79.57

healthcare insurance

5 54.09 53.61 53.03 52.75 52.49 52.75 52.6310 78.39 78.01 76.98 76.68 76.46 76.61 76.3915 90.28 90.32 89.94 89.74 89.54 89.58 89.45

property & casualty insurance

5 42.89 44.25 44.18 44.71 44.85 43.04 43.2710 63.49 62.80 63.15 63.30 63.73 61.11 61.0815 74.95 73.94 74.38 74.36 75.04 72.13 72.01

primary insurance, total

5 43.92 44.20 43.80 43.05 43.39 42.95 43.2110 63.47 63.43 63.54 62.93 63.38 63.05 63.3315 74.41 74.25 73.78 73.39 73.38 72.57 72.70

market share of the ... largest individual insurers as %1

1980 1990 2000 2010 2016 2017 2018

life insurance

5 37.43 33.00 30.77 38.10 40.52 42.67 44.4010 50.66 47.56 46.49 54.38 56.15 57.95 58.9415 61.37 58.20 58.27 66.02 67.82 68.77 69.37

healthcare insurance

5 57.03 54.10 52.23 51.33 49.51 51.50 51.3010 77.72 72.88 72.06 73.32 70.86 72.74 72.4015 90.90 84.95 83.91 85.13 83.55 85.31 85.06

property & casualty insurance

5 25.40 24.84 27.60 32.79 32.78 31.16 30.8110 37.66 37.54 39.54 46.24 47.22 46.03 46.6515 47.94 48.09 49.37 56.24 57.58 56.29 56.63

1 share of earned gross premiums

Source: BaFin, GDV

24Insurance industry in comparison to other industriesMarket concentration in primary insurance

2005 2010 2015 2017 2018 2019

employment in 1,0001

retail industry 1,989.2 2,073.2 2,292.9 2,370.5 2,403.7 2,420.3engineering 996.5 939.4 1,018.6 1,033.3 1,062.6 1,083.3chemical industry 446.3 314.3 306.9 329.5 335.3 342.2car manufacturing ° 770.3 893.0 923.8 941.9 949.6insurance industry2 306.1 298.2 295.6 292.2 291.2 290.9

revenue in EUR bn

retail industry 356.1 445.6 528.2 562.2 579.6 °engineering 178.9 186.3 235.6 252.1 261.8 °chemical industry 152.8 133.0 142.4 146.5 148.9 °car manufacturing 293.8 319.3 407.2 425.3 428.9 °insurance industry3 193.7 236.6 268.4 277.1 293.0 °

1 employees subject to social security contributions; as at 30 June2 employees subject to social security contributions in primary insurance and reinsurance

companies and insurance intermediation firms, furthermore there are self-employed insurance intermediaries and advisers (2019: 198,500)

3 incl. Pensionskassen,pension funds and funeral expenses funds

Source: AGV/BA; StBA; DIHK

25Life insurance companies* by legal form**

Insurance premium tax and fire brigade tax

year1

insurance premium tax fire brigade tax

tax rate as %2, 3 tax revenue

in EUR m tax rate as %4, 5 tax revenue

in EUR m1950 5 33 4 101960 5 111 4 191970 5 315 4 491975 5 586 4 961980 5 908 5 1241985 5 1,266 5 1821990 7 2,266 5 2001991 106 2,997 5 2271992 10 4,139 5 2451993 126 4,750 5 2891994 12 5,829 86 3041995 15 7,211 8 3891996 15 7,336 8 3861997 15 7,223 8 3631998 15 7,133 8 3311999 15 7,116 8 3082000 15 7,243 8 2882001 15 7,427 8 2932002 16 8,327 8 3062003 16 8,870 8 3282004 16 8,751 8 3532005 16 8,750 8 3312006 16 8,775 8 3222007 19 10,331 8 3192008 19 10,478 8 3272009 19 10,548 8 3232010 19 10,284 196 3262011 19 10,755 19 3652012 19 11,138 19 3802013 19 11,553 19 3922014 19 12,046 19 4092015 19 12,419 19 4132016 19 12,763 19 4422017 19 13,269 19 4512018 19 13,779 19 4672019 19 14,136 19 4832020 19 ° 19 °

1 until 1990 former FRG territory, from 1991 Germany2 general tax rate; particular risks/insurance classes are subject to different rates3 taxable base is the insurance premium without insurance premium tax but incl. fire

brigade tax4 general tax rate; from 1 July 2010 the tax rate for fire insurance and fire BI is 22 %5 taxable base is the insurance premium incl. calculated fire brigade tax but without

insurance premium tax; premiums of insurance contracts subject to fire brigade tax liability are only proportionately subject to insurance premium tax or fire brigade tax respectively

6 applicable from 1 July of the respective year

Source: BMF; GDV

26Life insurance companies* by legal form**

yearjoint stock companies

mutual insurance associations

ins. institutions under public law other1

number of insurance companies

1960 39 35 11 81970 39 35 11 111980 54 27 7 91990 71 25 10 62000 86 24 9 42004 78 20 4 32005 75 20 4 32006 74 20 4 32007 75 20 4 32008 74 19 4 22009 74 19 4 22010 74 18 4 22011 74 18 4 22012 72 17 4 22013 71 17 4 22014 67 17 4 22015 64 17 4 22016 65 16 4 22017 66 16 3 12018 66 16 4 1

market share as %2

1960 67.1 23.1 7.4 2.41970 66.4 22.6 7.9 3.11980 66.1 21.6 8.7 3.61990 69.6 19.0 7.7 3.72000 74.2 17.3 6.8 1.72004 83.6 13.3 1.3 1.82005 83.4 13.5 1.3 1.92006 83.1 13.7 1.2 1.92007 83.5 13.5 1.2 1.92008 83.8 13.4 1.2 1.72009 83.6 13.4 1.2 1.82010 84.4 12.6 1.3 1.72011 84.0 13.0 1.3 1.72012 83.6 13.5 1.3 1.72013 83.6 13.5 1.3 1.62014 83.5 13.8 1.3 1.42015 83.4 13.9 1.3 1.42016 83.3 14.1 1.2 1.42017 83.3 14.2 1.2 1.32018 83.5 14.1 1.1 1.3

* insurance companies under German supervision carrying on actual business, without small mutual insurance associations under Land supervision mostly limited to a particu-lar region; until 1980 only insurance companies under federal supervision

** joint stock companies that due to ownership structure are part of the public sector or whose shareholders are mutual insurance associations are included in joint stock comp.

1 mostly German branches of foreign-based insurance companies, from 2000 without branches of insurance companies based inside the EEA

2 share of legal form in gross premiums; until 1980 written gross premiums, from 1990 earned gross premiums

Source: BaFin

27Business development in life insurance*

Business development life insurance, Pensionskassen and pension funds*

2010 2011 2012 2013 2014business in force

written gross premiums (EUR m)1 90,355 86,801 87,340 90,826 93,676number of contracts (m) 94.2 93.6 93.0 91.8 92.43

new businessnumber of contracts (m) 6.3 6.5 6.3 5.5 5.7premium sum (EUR bn) 162.6 173.8 169.0 149.2 156.8

regular premium contracts 135.8 151.1 146.5 123.5 127.8single premium contracts 26.8 22.6 22.5 25.7 29.0

annual premium equivalent (EUR bn)2 8.5 8.6 8.4 7.9 8.4sum insured (EUR bn) 260.1 280.4 286.0 264.4 274.3


business in forcewritten gross premiums1 6.0 -3.9 0.6 4.0 3.1number of contracts -0.9 -0.7 -0.6 -1.2 x3

new businessnumber of contracts -0.3 3.2 -3.4 -13.0 3.9premium sum 4.2 6.8 -2.7 -11.7 5.1

regular premium contracts 0.4 11.3 -3.0 -15.7 3.5single premium contracts 29.0 -15.6 -0.5 14.2 12.9

annual premium equivalent2 5.6 0.8 -2.6 -5.8 6.8sum insured 6.0 7.8 2.0 -7.5 3.8







business in forcewritten gross premiums1 -1.1 -2.0 -0.1 2.2 11.5number of contracts -1.6 -1.9 -1.4 -0.3 -0.7

new businessnumber of contracts -8.1 -1.1 -3.4 -0.7 5.4premium sum -4.2 1.4 -3.0 4.7 13.4

regular premium contracts -4.1 3.0 -3.6 4.8 8.1single premium contracts -4.2 -5.6 0.2 4.7 37.9

annual premium equivalent2 -3.6 -0.1 -2.8 2.8 20.1sum insured -0.8 3.0 2.0 -1.6 9.0

* beside life insurers, the GDV statistics currently cover 19 inter-company Pensionskassen and 16 pension funds (mostly institutions established by insurers)

1 without premiums resulting from bonus and rebate provisions2 new business one year’s regular premiums plus 10 % of single premiums3 as at 1 January 2014 a residual debt insurance portfolio was transferred from a

non-member to a member company, figure not comparable to previous year

Source: GDV

28Business development in life insurance*







business in forcewritten gross premiums1 7.1 -4.6 1.1 4.0 3.3number of contracts -1.0 -0.9 -0.9 -1.4 x3

new businessnumber of contracts -0.2 2.9 -4.7 -11.4 4.2premium sum 4.8 6.3 -2.3 -11.4 5.5

regular premium contracts 0.4 11.1 -2.9 -15.3 3.9single premium contracts 33.9 -17.4 1.2 13.9 13.0

annual premium equivalent2 6.6 0.0 -2.0 -5.5 7.1sum insured 6.1 7.7 2.3 -7.3 3.9







business in forcewritten gross premiums1 -2.5 -1.5 -0.2 3.3 11.3number of contracts -1.7 -1.9 -1.5 -0.3 -0.8

new businessnumber of contracts -7.9 -0.7 -3.2 -0.8 4.5premium sum -4.8 1.9 -2.8 5.7 13.2

regular premium contracts -3.8 3.2 -3.3 5.2 8.1single premium contracts -9.0 -4.1 -0.3 8.2 36.9

annual premium equivalent2 -5.0 0.6 -2.8 4.1 19.7sum insured -0.6 3.1 2.2 -1.5 9.0

* without Pensionskassen and pension funds1 without premiums resulting from bonus and rebate provisions2 new business one year’s regular premiums plus 10 % of single premiums3 as at 1 January 2014 a residual debt insurance portfolio was transferred from a

non-member to a member company, figure not comparable to previous year

Source: GDV

29Business development of Pensionskassen*


written gross premiums (EUR m)1 2,787 2,812 2,863 2,954 2,827number of contracts (in m) 3.380 3.500 3.607 3.660 3.719

new businessnumber of contracts (in m) 0.174 0.194 0.174 0.133 0.130premium sum (EUR bn) 4.550 5.372 4.916 3.736 3.325




business in forcewritten gross premiums1 -1.2 0.9 1.8 3.2 -4.3number of contracts 2.9 3.6 3.0 1.5 1.6

new businessnumber of contracts -1.7 11.7 -10.5 -23.7 -2.0premium sum -1.5 18.1 -8.5 -24.0 -11.0

regular premium contracts -1.1 18.3 -9.1 -26.3 -9.9single premium contracts -15.0 7.5 17.8 53.2 -28.9

annual premium equivalent2 1.4 16.1 -7.8 -19.3 -13.5sum insured -0.3 16.7 -16.0 -26.3 -9.3


written gross premiums (EUR m)1 2,819 2,724 2,623 2,495 2,417number of contracts (in m) 3.750 3.736 3.706 3.692 3.683





business in forcewritten gross premiums1 -0.3 -3.3 -3.7 -4.9 -3.1number of contracts 0.8 -0.4 -0.8 -0.4 -0.2

new businessnumber of contracts -16.1 -16.0 -23.2 -7.8 56.3premium sum -15.5 -11.1 -21.0 -26.2 -1.0

regular premium contracts -17.3 -10.7 -22.0 -27.9 -1.2single premium contracts 21.9 -17.2 -5.3 -5.6 0.4

annual premium equivalent2 -13.4 -8.4 -16.2 -18.8 -0.1sum insured -23.5 -8.2 -22.8 -23.3 -4.2

* the GDV statistics currently cover 19 inter-company Pensionskassen (mostly institutions established by insurers)

1 without premiums resulting from bonus and rebate provisions2 new business one year’s regular premiums plus 10 % of single premiums

Source: GDV

30Business development of pension funds*


written gross premiums (EUR m)1 409 799 396 435 543number of contracts (in m) 0.317 0.344 0.464 0.488 0.510



annual premium equivalent (EUR bn)2 0.043 0.078 0.039 0.040 0.050


business in forcewritten gross premiums1 -61.2 95.2 -50.4 10.0 24.7number of contracts 9.6 8.6 34.7 5.3 4.5

new businessnumber of contracts 3.5 3.1 287.4 -75.9 -15.6premium sum -50.4 50.1 -38.8 -2.9 17.9

regular premium contracts 0.9 -20.8 18.8 -17.9 -0.6single premium contracts -68.7 131.3 -61.3 15.2 33.8

annual premium equivalent2 -59.8 80.6 -50.1 3.6 23.1


written gross premiums (EUR m)1 1,836 1,368 1,516 756 1,329number of contracts (in m) 0.532 0.467 0.490 0.522 0.565



annual premium equivalent (EUR bn)2 0.180 0.136 0.149 0.076 0.134


business in forcewritten gross premiums1 238.5 -25.5 10.8 -50.1 75.8number of contracts 4.3 -12.1 4.9 6.5 8.2

new businessnumber of contracts -4.9 -20.2 50.8 26.6 39.2premium sum 201.7 -19.1 8.5 -36.9 60.5

regular premium contracts 12.9 34.0 0.4 32.8 22.9single premium contracts 321.9 -28.1 11.1 -57.0 93.8

annual premium equivalent2 263.6 -24.7 9.7 -49.1 77.1

* the GDV statistics currently cover 16 pension funds (mostly institutions established by insurers)

1 without premiums resulting from bonus and rebate provisions2 new business one year’s regular premiums plus 10 % of single premiums

Source: GDV

31Premium income* in life insurance

year

life insurance Pensionskassen/ pension funds1

total

in EUR m

change against

previous year as % in EUR m

change against


change against

previous year as %

1975 8,218 x – x 8,218 x1980 13,215 x – x 13,215 x1985 18,385 x – x 18,385 x1990 27,403 x – x 27,403 x1991 31,098 13.5 – x 31,098 13.51992 34,489 10.9 – x 34,489 10.91993 38,514 11.7 – x 38,514 11.71994 42,416 10.1 – x 42,416 10.11995 45,201 6.6 – x 45,201 6.61996 47,494 5.1 – x 47,494 5.1 19972 50,500 4.8 – x 50,500 4.81998 52,505 4.0 – x 52,505 4.01999 58,749 11.9 – x 58,749 11.92000 61,225 4.2 – x 61,225 4.22001 62,387 1.9 178 x 62,565 2.22002 65,018 4.2 283 58.8 65,301 4.42003 67,618 4.0 956 238.0 68,574 5.02004 68,399 1.2 1,944 103.3 70,343 2.62005 72,636 6.2 2,608 34.1 75,244 7.02006 74,872 3.1 3,583 37.4 78,455 4.32007 75,434 0.8 3,533 -1.4 78,967 0.72008 76,306 1.2 3,279 -7.2 79,585 0.82009 81,371 6.6 3,877 18.2 85,248 7.12010 87,159 7.1 3,196 -17.6 90,355 6.02011 83,191 -4.6 3,610 13.0 86,801 -3.92012 84,081 1.1 3,258 -9.7 87,340 0.62013 87,436 4.0 3,389 4.0 90,826 4.02014 90,306 3.3 3,369 -0.6 93,676 3.12015 88,004 -2.5 4,655 38.2 92,659 -1.12016 86,682 -1.5 4,091 -12.1 90,774 -2.02017 86,504 -0.2 4,139 1.1 90,643 -0.12018 89,356 3.3 3,252 -21.4 92,608 2.22019 99,472 11.3 3,746 15.2 103,218 11.5


1980–1990 7.6 x x x 7.6 x1990–2000 8.4 x x x 8.4 x2000–2010 3.6 x x x 4.0 x2010–2019 1.5 x x x 1.5 x

* written gross premiums without premiums resulting from bonus and rebate provisions1 the GDV statistics currently cover 19 inter-company Pensionskassen and 16 pension

funds (mostly institutions established by insurers)2 as at 1 January 1998 a major insurance portfolio was transferred from a non-member

to a member company, the gross premiums for 1997 have been adjusted accordingly, the growth rate for 1997 refers to gross premiums in 1997 without portfolio transfer

Source: GDV

32Life insurance, Pensionskassen and pension funds*: regular and single premiums**

year

regular premiums1 single premiums2 total share of single

premiums2

in EUR m

change against


change against


change against

previous year as % as %

2002 58,131 4.3 7,170 7.4 65,301 4.4 11.02003 60,222 3.6 8,352 16.5 68,574 5.0 12.22004 62,401 3.6 7,942 -4.9 70,343 2.6 11.32005 65,844 5.5 9,400 18.4 75,244 7.0 12.52006 65,751 -0.1 12,704 35.2 78,455 4.3 16.22007 66,091 0.5 12,876 1.4 78,967 0.7 16.32008 66,445 0.5 13,140 2.1 79,585 0.8 16.52009 64,255 -3.3 20,993 59.8 85,248 7.1 24.62010 63,323 -1.5 27,031 28.8 90,355 6.0 29.92011 63,908 0.9 22,893 -15.3 86,801 -3.9 26.42012 64,603 1.1 22,737 -0.7 87,340 0.6 26.02013 64,899 0.5 25,927 14.0 90,826 4.0 28.52014 64,400 -0.8 29,275 12.9 93,676 3.1 31.32015 64,563 0.3 28,095 -4.0 92,659 -1.1 30.32016 64,372 -0.3 26,402 -6.0 90,774 -2.0 29.12017 64,176 -0.3 26,467 0.2 90,643 -0.1 29.22018 64,752 0.9 27,856 5.2 92,608 2.2 30.12019 65,091 0.5 38,127 36.9 103,218 11.5 36.9

* life insurance, Pensionskassen and pension funds; beside life insurers, the GDV statistics currently cover 19 inter-company Pensionskassen and 16 pension funds (mostly institutions established by insurers)

** written gross premiums without premiums resulting from bonus and rebate provisions1 until 2003 incl. single premiums from supplementary insurance in life insurance2 single premiums for pension funds from new business; until 2003 without single

premiums from supplementary insurance in life insurance

Source: GDV

33 Life insurance, Pensionskassen and pension funds*: premiums by type of insurance

year

endow-ment

insurance

unit-linked endowment and annuity

insurance

annuities and pension

insurancedisability

insurance1group

insurance

supple-mentary

insurance2

share as %3

2001 55.6 5.7 22.1 ° 11.1 5.52002 52.6 7.3 22.5 ° 11.4 6.12003 46.3 8.4 25.5 ° 13.1 6.72004 44.0 9.4 27.4 ° 12.3 6.92005 41.6 10.4 28.6 ° 12.4 6.92006 38.3 11.7 31.5 ° 11.9 6.62007 36.5 13.3 30.8 ° 12.6 6.82008 35.5 14.5 30.7 ° 12.2 7.02009 34.8 13.3 33.3 ° 12.0 6.72010 32.2 13.0 35.4 ° 12.9 6.42011 30.5 14.8 34.8 ° 12.7 7.22012 28.7 14.6 33.7 2.8 13.2 7.02013 27.0 14.3 36.4 2.9 12.5 6.92014 25.9 14.8 36.0 3.0 13.6 6.72015 25.1 16.1 35.1 3.4 13.6 6.72016 24.2 16.6 34.8 3.8 13.8 6.82017 24.1 17.1 33.3 4.1 14.5 6.92018 24.6 17.8 33.3 4.3 13.2 6.8

year

en-dow-ment

insur-ance4

risk life

insur-ance

unit-linked

endow-ment and

annuity insurance4

annuities and pension insurance4

disa-bility

insur-ance

other insur-ance4

supple-men-

tary insur-

ance

classic with-

profits

unit-linked insur-

ance

hybrid forms

with guarantee

share as %3

2018 16.2 3.7 3.1 27.3 5.1 24.3 4.5 9.1 6.62019 13.9 3.4 2.8 25.9 4.6 27.6 4.3 11.4 6.0

* beside life insurers, the GDV statistics currently cover 19 inter-company Pensionskassen and 16 pension funds (mostly institutions established by insurers)

1 until 2011 data included in previous columns2 from 2004 supplementary insurance of Pensionskassen on a pro rata basis3 share of written gross premiums of direct business4 due to modified classification, figures not comparable to table above

Source: GDV

34Life insurance*: regular and single premiums**

Life insurance, Pensionskassen and pension funds*: premiums by type of insurance

year

regular premiums1 single premiums2 total3 share of single

premiums2

in EUR m

change against


change against


change against

previous year as % as %

1976 8,604 x 364 x 8,970 x 4.11980 12,634 x 579 x 13,215 x 4.41985 17,557 x 827 x 18,386 x 4.51990 26,022 x 1,381 x 27,403 x 5.01991 29,653 14.0 1,445 4.6 31,098 13.5 4.61992 32,620 10.0 1,869 29.3 34,489 10.9 5.41993 35,724 9.5 2,790 49.3 38,514 11.7 7.21994 39,019 9.2 3,398 21.8 42,416 10.1 8.01995 41,223 5.6 3,978 17.1 45,201 6.6 8.81996 43,394 5.3 4,100 3.0 47,494 5.1 8.619974 46,089 4.6 4,411 7.1 50,500 4.8 8.71998 47,556 3.2 4,949 12.2 52,505 4.0 9.41999 51,501 8.3 7,248 46.5 58,749 11.9 12.32000 54,444 5.7 6,781 -6.4 61,225 4.2 11.12001 55,714 2.3 6,674 -1.6 62,387 1.9 10.72002 57,895 3.9 7,122 6.7 65,018 4.2 11.02003 59,374 2.6 8,244 15.8 67,618 4.0 12.22004 60,673 2.2 7,726 -6.3 68,399 1.2 11.32005 63,419 4.5 9,217 19.3 72,636 6.2 12.72006 63,125 -0.5 11,747 27.4 74,872 3.1 15.72007 63,345 0.3 12,089 2.9 75,434 0.8 16.02008 63,643 0.5 12,663 4.8 76,306 1.2 16.62009 61,449 -3.4 19,922 57.3 81,371 6.6 24.52010 60,539 -1.5 26,620 33.6 87,159 7.1 30.52011 61,096 0.9 22,094 -17.0 83,191 -4.6 26.62012 61,756 1.1 22,326 1.1 84,082 1.1 26.62013 62,034 0.5 25,403 13.8 87,437 4.0 29.12014 61,599 -0.7 28,707 13.0 90,306 3.3 31.82015 61,812 0.3 26,191 -8.8 88,004 -2.5 29.82016 61,664 -0.2 25,019 -4.5 86,682 -1.5 28.92017 61,549 -0.2 24,956 -0.3 86,504 -0.2 28.82018 62,232 1.1 27,124 8.7 89,356 3.3 30.42019 62,628 0.6 36,844 35.8 99,472 11.3 37.0

* without Pensionskassen and pension funds** written gross premiums without premiums resulting from bonus and rebate provisions1 until 2003 incl. single premiums from supplementary insurance2 until 2003 only single premiums under main insurance contracts3 until 1985 incl. additional charges of policyholders4 as at 1 January 1998 a major insurance portfolio was transferred from a non-member

to a member company, the gross premiums for 1997 have been adjusted accordingly, the growth rate for 1997 refers to gross premiums in 1997 without portfolio transfer

Source: GDV

35 Life insurance*: premiums by type of insurance

year

endow-ment

insurance

unit-linked endowment and annuity

insurance

annuities and pension

insurancedisability

insurance1group

insurance2

supple-mentary

insurance

share as %3

1976 84.7 0.5 4.1 ° 6.7 4.01980 83.9 0.4 3.7 ° 7.5 4.51985 83.3 0.3 4.0 ° 7.1 5.31990 82.0 1.0 4.8 ° 6.8 5.41995 70.0 2.2 14.0 ° 8.6 5.22000 55.6 5.7 22.1 ° 11.1 5.52001 52.7 7.3 22.4 ° 11.5 6.12002 49.8 8.2 23.6 ° 11.8 6.62003 47.0 8.6 24.4 ° 13.3 6.72004 45.3 9.6 25.5 ° 12.6 7.02005 43.1 10.8 26.2 ° 12.8 7.12006 40.1 12.3 28.4 ° 12.4 6.82007 38.3 13.9 27.6 ° 13.2 7.02008 37.0 15.1 27.9 ° 12.8 7.22009 36.5 13.9 30.1 ° 12.6 6.92010 33.4 13.5 33.2 ° 13.3 6.62011 31.9 15.4 32.1 ° 13.2 7.42012 29.8 15.2 31.2 2.9 13.7 7.22013 28.0 14.9 34.1 3.0 13.0 7.02014 26.9 15.3 33.7 3.1 14.1 6.92015 26.5 16.9 31.7 3.5 14.3 7.02016 25.4 17.3 31.8 4.0 14.5 7.12017 25.2 17.9 30.2 4.3 15.3 7.22018 25.6 18.4 31.0 4.4 13.6 7.0

year

en-dow-ment

insur-ance4

risk life

insur-ance

unit- linked

endow-ment and

annuity insurance4

annuities and pension insurance4

disa-bility

insur-ance

other insur-ance4

supple-men-

tary insur-

ance

classic with-

profits

unit-linked insur-

ance

hybrid forms

with guarantee

share as %3

2018 16.8 3.8 3.3 25.6 5.3 24.4 4.7 9.4 6.82019 14.4 3.5 2.9 24.5 4.8 27.3 4.5 11.9 6.2

* without Pensionskassen and pension funds1 until 2011 data included in previous columns2 from 1994 group insurance includes individual policies subject to a rebate which

previously were recorded under the heading of individual endowment insurance3 share of written gross premiums of direct business4 due to modified classification, figures not comparable to table above

Source: GDV

36New business* in life insurance by type of business

1995 2000 2010 2015 2018 2019

numbers in 1,000

annuities and pension insurance 867.9 1,199.8 3,042.3 2,102.8 2,041.4 2,263.3

classic with-profits1 - 1,199.8 2,060.3 1,354.7 435.6 399.3unit-linked insurance1 - - 982.0 748.1 213.4 223.5hybrid forms with guarantee - - - - 1,392.4 1,640.5

endowment insurance (basic) 3,242.4 1,954.9 742.1 527.2 461.9 453.0

endowment insurance (unit-linked)2 220.1 1,281.7 156.7 79.3 46.2 48.0

disability insurance 38.8 184.4 403.3 415.2 415.2 434.3long-term care insurance 4.2 0.1 14.0 24.0 26.6 13.1term insurance 1,189.9 1,193.7 945.8 555.8 467.6 474.5residual debt insurance and life insurance without profit participation

1,188.0 1,486.1 743.2 1,085.5 1,172.2 1,101.7

other life insurance3 2.5 1.2 83.3 324.6 244.7 305.0total of new business 6,753.7 7,301.8 6,130.8 5,114.4 4,875.8 5,093.1

share as %

annuities and pension insurance 12.9 16.4 49.6 41.1 41.9 44.4

classic with-profits1 - 16.4 33.6 26.5 8.9 7.8unit-linked insurance1 - - 16.0 14.6 4.4 4.4hybrid forms with guarantee - - - - 28.6 32.2

endowment insurance (basic) 48.0 26.8 12.1 10.3 9.5 8.9

endowment insurance (unit-linked)2 3.3 17.6 2.6 1.6 0.9 0.9

disability insurance 0.6 2.5 6.6 8.1 8.5 8.5long-term care insurance 0.1 0.0 0.2 0.5 0.5 0.3term insurance 17.6 16.3 15.4 10.9 9.6 9.3residual debt insurance and life insurance without profit participation

17.5 20.3 12.1 21.2 24.0 21.6

other life insurance3 0.1 0.1 1.4 6.3 5.0 6.0total of new business 100.0 100.0 100.0 100.0 100.0 100.0

* policies with first premium paid1 until 2010 incl. mixed products with guarantees 2 until 2000 incl. unit-linked annuities3 incl. capital redemption operations, from 2016 incl. term insurance linked to building

loans and other individual and group insurance contracts

Source: GDV

37 Riester pensions*: business in force and new business

business in force

year

number of contracts regular premium for one year

sum insured or 12 times the amount of the annual pension

in m

change against


change against


change against previous

year as %2001 0.416 x 86.7 x 2.631 x2003 3.352 14.1 532.8 14.4 16.594 15.22004 3.473 3.6 950.0 78.3 24.833 49.72005 4.419 27.2 1,291.5 36.0 32.593 31.32006 6.246 41.4 2,503.3 93.8 58.809 80.42007 8.042 28.8 3,333.3 33.2 77.115 31.12008 9.131 13.5 4,628.1 38.8 104.876 36.02009 9.826 7.6 5,041.0 8.9 113.515 8.22010 10.319 5.0 5,025.6 -0.3 122.270 7.72011 10.829 4.9 5,350.0 6.5 132.379 8.32012 10.856 0.3 5,421.0 1.3 136.055 2.82013 10.835 -0.2 5,449.9 0.5 138.859 2.12014 10.846 0.1 5,531.3 1.5 143.156 3.12015 10.803 -0.4 5,542.5 0.2 146.752 2.52016 10.726 -0.7 5,628.4 1.5 150.233 2.42017 10.652 -0.7 5,690.3 1.1 153.043 1.92018 10.590 -0.6 5,747.4 1.0 156.741 2.42019 10.535 -0.5 5,812.6 1.1 160.947 2.7

new business1

year

number of contracts

regular premium for one year

single premium2


in m in EUR m in EUR bn2004 0.296 533.5 60.3 11.6242005 1.119 450.6 106.5 10.1502006 2.012 1,392.5 242.1 30.6632007 2.067 1,101.3 470.4 24.6012008 1.570 1,887.4 731.9 40.2172009 1.160 987.0 1,074.9 21.5152010 0.982 817.1 1,419.7 20.8642011 0.946 829.6 1,360.2 21.5962012 0.610 643.1 1,448.5 16.1062013 0.453 546.8 1,470.2 13.6332014 0.464 559.5 1,292.4 14.2882015 0.373 502.2 1,373.9 12.7562016 0.346 499.1 1,414.0 12.6562017 0.284 447.5 1,379.9 11.7882018 0.299 461.9 1,527.2 11.9102019 0.293 476.8 1,642.2 12.061

* life insurance policies eligible for subsidy under section 82(1) to (3) EStG1 policies with first premium paid; regular premium for one year and sum insured incl.

adjustments of contracts in force on account of increase in state subsidy (2004, 2006, 2008)

2 includes state subsidies

Source: GDV

38Basisrenten*: business in force and new business

Riester pensions*: business in force and new business

business in force

year

number of contracts regular premium for one year


in m

change against


change against


change against

previous year as %

2005 0.148 x 219.8 x 3.833 x2006 0.296 100.1 542.4 146.8 8.829 130.42007 0.608 105.6 1,255.8 131.5 20.432 131.42008 0.863 41.9 1,762.9 40.4 30.375 48.72009 1.080 25.2 2,122.0 20.4 36.354 19.72010 1.277 18.3 2,416.8 13.9 41.775 14.92011 1.490 16.6 2,764.1 14.4 47.752 14.32012 1.655 11.1 2,975.2 7.6 51.712 8.32013 1.763 6.5 3,074.5 3.3 53.836 4.12014 1.883 6.8 3,216.6 4.6 57.168 6.22015 1.975 4.9 3,342.9 3.9 59.941 4.92016 2.058 4.2 3,443.0 3.0 63.205 5.42017 2.136 3.8 3,522.1 2.3 66.179 4.72018 2.251 5.4 3,612.5 2.6 69.183 4.52019 2.323 3.2 3,726.5 3.2 72.928 5.4

new business1

year

number of contracts

regular premium for one year

single premium


in m in EUR m in EUR bn2005 0.153 221.2 44.6 3.8862006 0.174 358.9 127.0 5.7702007 0.318 730.4 347.6 11.6752008 0.284 657.6 400.5 11.3722009 0.234 542.1 397.3 9.3652010 0.218 517.2 446.0 8.7522011 0.211 548.1 473.9 9.0112012 0.178 470.5 462.4 7.5242013 0.119 367.5 524.1 5.7542014 0.112 363.6 555.7 5.7662015 0.098 337.2 643.2 5.5542016 0.096 343.7 643.0 5.7642017 0.081 315.3 670.5 5.6062018 0.077 317.6 672.9 5.5382019 0.084 346.0 790.6 6.067

* life insurance policies eligible for tax breaks under section 10(1) para. 2b EStG1 policies with first premium paid

Source: GDV

39 Occupational pensions: direct insurance and reinsurance business in force

direct insurance contracts reinsurance contracts

yearnumbers

in msum insured

in EUR bnnumbers

in msum insured

in EUR bn1974 1.34 7.13 ° °1980 2.41 27.91 ° °1990 3.83 67.86 ° °1991 4.14 76.88 ° °1992 4.43 88.03 ° °1993 4.64 95.92 ° °1994 4.78 102.79 ° °1995 4.68 104.55 ° °1996 5.12 117.69 ° °1997 5.26 122.60 1.11 50.491998 5.39 129.68 1.08 53.961999 5.73 143.27 1.14 58.342000 5.80 148.01 1.33 66.122001 5.90 151.50 1.50 77.202002 5.83 153.15 1.80 86.312003 5.82 153.73 2.03 89.552004 5.94 158.39 2.18 91.032005 5.86 157.01 2.27 92.022006 6.02 162.47 2.36 91.112007 6.17 166.78 2.37 95.062008 6.40 173.35 2.50 97.652009 6.58 178.36 2.61 100.342010 6.75 183.38 2.76 104.292011 7.11 192.87 2.86 109.022012 7.41 200.63 2.99 113.512013 7.53 203.79 3.06 115.512014 7.64 207.59 3.17 117.292015 7.74 212.09 3.28 120.332016 7.89 218.99 3.34 120.532017 8.11 227.54 3.47 122.902018 8.37 237.51 3.52 123.992019 8.49 248.30 3.52 119.82

Source: GDV

40Supplementary insurance business in force in life insurance*

Occupational pensions: direct insurance and reinsurance business in force

year total

supplemen-tary accident

insurance

supplemen-tary disability

insurance

supplemen - tary term insurance

other sup-plementary

insurance

number of contracts in m (share as %)

1990 39.2 29.1 (74.2) 8.5 (21.6) 0.7 (1.8) 0.9 (2.4)1995 39.8 25.9 (65.0) 10.6 (26.5) 1.3 (3.4) 2.0 (5.1)2000 39.1 21.2 (54.3) 12.9 (33.0) 2.0 (5.1) 3.0 (7.6)2005 36.6 15.0 (40.9) 15.2 (41.6) 2.7 (7.3) 3.7 (10.2)2006 35.5 13.9 (39.2) 15.1 (42.6) 2.8 (7.9) 3.7 (10.3)2007 34.3 12.9 (37.7) 14.9 (43.4) 3.0 (8.6) 3.5 (10.3)2008 32.7 11.9 (36.5) 14.5 (44.3) 3.0 (9.2) 3.3 (10.0)2009 31.2 11.0 (35.3) 14.1 (45.3) 3.0 (9.7) 3.0 (9.7)2010 30.0 10.2 (34.1) 13.8 (46.0) 3.1 (10.2) 2.9 (9.7)2011 29.4 9.5 (32.3) 13.8 (47.0) 3.0 (10.3) 3.0 (10.4)2012 28.5 8.7 (30.7) 13.7 (47.9) 3.1 (10.8) 3.0 (10.6)2013 27.6 8.1 (29.2) 13.4 (48.5) 3.1 (11.2) 3.1 (11.1)20141 27.8 8.4 (30.4) 13.2 (47.5) 3.1 (11.1) 3.1 (11.0)2015 26.8 7.5 (28.1) 12.9 (48.2) 3.2 (12.0) 3.1 (11.7)2016 24.9 6.6 (26.3) 12.6 (50.7) 3.0 (11.9) 2.8 (11.1)2017 23.7 5.9 (24.8) 12.3 (52.0) 2.8 (11.9) 2.7 (11.4)2018 23.0 5.4 (23.3) 12.1 (52.6) 2.8 (12.3) 2.7 (11.7)2019 22.2 4.8 (21.7) 11.9 (53.5) 2.9 (12.9) 2.6 (11.9)

sum insured in EUR bn (share as %)

1990 629.0 290.6 (46.2) 310.4 (49.3) 11.8 (1.9) 16.2 (2.6)

Documents

Statistical Yearbook of German Insurance 2020...German Insurance Association Wilhelmstraße 43/43G, 10117 Berlin Tel.: +49 30 2020-5131 Fax: +49 30 2020-6616 [email protected] The German