Daniel Slotta
Research expert covering Greater China
Insurance industry in Germany - statistics & facts
Germany has one of the largest insurance industries in Europe and is home to some of the largest insurers globally, such as Allianz Group and Munich Re. The size of the German insurance market has grown steadily over recent decades and exceeded 230 billion euros in 2022. in In 2024, Allianz was among the top five insurers globally in terms of market capitalization. Meanwhile, Munich Re was the largest reinsurance company by premiums written in 2022. Insurance companies purchase reinsurance to reduce the amount they will have to pay out in claims, especially in the case of losses due to natural disasters. German insurers retained approximately 83 percent of the risk they took on through premiums and passed the remaining share onto reinsurers.
