Global Germany Life Insurance Market Overview:
German life insurance policies guarantee that in the event of the death of the insured, the insurance company pays a certain amount to the dependents of the deceased (pre-selected beneficiaries). Whether dependents, such as children, need financial income for their education or have loans to pay off, life insurance policies in Germany guarantee that the lack of income due to death will be compensated. The surge in awareness of Life insurance drives the market growth
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Forecast Period | 2023-2028 |
Historical Period | 2018-2022 |
Unit | Value (USD Million) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
Influencing Trend:
The growing interest in the digitization of the insurance supply chain
Market Growth Drivers:
Increased awareness of life insurance
Challenges:
Lack of Skilled Workforce
Restraints:
Digitization increases the risk of cyber attacks
Opportunities:
Growing Demand for Life Insurance Products
Competitive Landscape:
Germany Life Insurance is a fragmented market due to the presence of a large number of established competitors. The market is highly competitive with a few players occupying the major share. The key players are highly focused on developing and innovating new strategies to maintain their market position and customer base.
Some of the key players profiled in the report are HUK Coburg Versicherungsgruppe, AXA Konzern AG, Generali Deutschland AG, Talanx Konzern, Allianz Group, Signal Iduna Gruppe, Munchener Ruck Gruppe, R+V Konzern, Debeka Versicherungen and Versicherungskammer Bayern. Considering Market by Life Insurance Type, the sub-segment i.e. Individual will boost the Germany Life Insurance market. Considering Market by Distribution Channels, the sub-segment i.e. Direct will boost the Germany Life Insurance market.
Latest Market Insights:
In May 2021, German insurance group Signal Iduna acquired Romanian insurance companies ERGO Asigurari de Viata and ERGO Asigurari from ERGO Group AG. The transaction is pending approval from Romania's competent authorities.
In July 2022, Athora Holding Ltd., Europe's leading savings and retirement services group, transferred its subsidiary Athora Deutschland GmbH (Athora Germany) to DBV- Winterthur Life (DWL) of AXA Germany, with assets under management (AuA) of EUR 19 billion. With a purchase price of €610 million, which provides a significant discount to its own funds
What Can be Explored with the Germany Life Insurance Market Study
Gain Market Understanding
Identify Growth Opportunities
Analyze and Measure the Global Germany Life Insurance Market by Identifying Investment across various Industry Verticals
Understand the Trends that will drive Future Changes in Germany Life Insurance
Understand the Competitive Scenario
- Track Right Markets
- Identify the Right Verticals
Research Methodology:
The top-down and bottom-up approaches are used to estimate and validate the size of the Global Germany Life Insurance market.
In order to reach an exhaustive list of functional and relevant players various industry classification standards are closely followed such as NAICS, ICB, SIC to penetrate deep in important geographies by players and a thorough validation test is conducted to reach most relevant players for survey in Germany Life Insurance market.
In order to make priority list sorting is done based on revenue generated based on latest reporting with the help of paid databases such as Factiva, Bloomberg etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment by targeting key target audience that includes Consulting Companies and Advisers, Government Bodies, Regulatory Bodies, Potential Investors, Research and Development Institutes, End Users and Others.
This helps us to gather the data related to players revenue, operating cycle and expense, profit along with product or service growth etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that includes Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, USPTO, EPO, Annual reports, press releases etc.