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Insurance industry: volume of premiums continued to increase in 2015

At the end of 2015, approximately 1,358 direct insurance and reinsurance companies and pension funds were operating in Germany. While direct insurers cover various risks of private individuals and businesses, reinsurers cover the risks of other insurance companies. Pension funds are a type of employee pension scheme.

The insurance industry as a whole achieved gross premiums to the amount of roughly 268 billion euros in 2015. The volume of premiums was up by approximately 4.0% year-on-year, with the growth trend of 2014 (+2.8%) continuing. An above-average positive development was recorded for pension funds (+153%). One reason for this development are high single premium payments. The trend recorded for premiums received by life insurance companies is contrary to the rising volume of premiums in the insurance industry. The volume of life insurance premiums was down by 2.6% in 2015 compared with the previous year.

At the end of 2015, approximately 156,000 people were employed in the insurance industry, that is an increase of about 700 or 0.5% year-on-year. While employment was slightly down in 2015 in the life and health insurance sectors (-0.9% and -1.5%, respectively) as in the preceding year, the number of employees of indemnity and accident insurance companies as well as reinsurance companies rose again in 2015 (+1.4% and +3.3%, respectively).

Additional Information

Key figures

Key figures, 2015
Eco­nomic sectorsPersons em­ployed
(mn)
Turnover
(bn)
Transpor­tation and storage2.2314.3
Infor­mation and commu­nica­tion1.2255.9
Profes­sional, scientific and technical activi­ties2.5294.1
Ad­minis­trative and support service activi­ties3.3197.4

© Statistisches Bundesamt (Destatis), 2017

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