These are the stats:

1. The gross written premium of the Germany general insurance market was EUR152.6 billion ($182.4 billion) in 2022 and is expected to achieve a CAGR of more than 5% during 2023-2027​¹.
2. The German health and medical insurance market has generated revenue of USD 83 million in the current year and is poised to register a CAGR of 4% for the forecast period​².
3. Approximately 86 percent of the population in Germany is enrolled in statutory health insurance, which provides inpatient, outpatient, mental health, and prescription drug coverage​².
4. The German Life and Non-Life Insurance Market is highly competitive with the presence of local as well as international players in the market​³.
5. Allianz was the leading insurance company in Germany with a revenue of approximately EUR 140.5 billion in 2020​³.
6. The number of German health insurance companies has been shrinking in recent years, mostly due to mergers and acquisitions within the sector, with less than 100 health insurance schemes as of January 2022​⁴.
7. Germany’s population is ageing, with a rising proportion of those over 60, leading to a higher demand for health insurance products​⁵.
8. The German healthcare Insurance market is expected to be driven by factors such as technological advancements and rising healthcare costs​⁵.

Do you have any other questions?

The demand for health insurance in Germany is expected to increase due to several factors, including an ageing population, technological advancements, rising healthcare costs, and competition among insurers. The market is projected to grow from $74.16 billion in 2022 to $116.43 billion by 2030, registering a CAGR of 5.8%​¹. These drivers will likely lead to a higher need for health insurance products and services among consumers.

Additionally, the increased use of advanced technologies such as artificial intelligence and machine learning in claim management systems accelerates the selling of health insurance plans among consumers​².

Moreover, the German population is aging, with a rising proportion of those over 60 who have higher demand for health insurance products due to their likelihood of needing healthcare services​¹.

Finally, the unhealthy lifestyle of the public also contributes to an increased demand for health insurance in Germany​².

The number of German health insurance companies has been shrinking in recent years, with less than 100 health insurance schemes as of January 2022​¹. This trend affects each of the more than 83 million residents in Germany​¹. According to Statista, the sector has experienced “increased M&A activity,” primarily due to mergers and acquisitions within the industry​¹.

Source: www.statista.com

​¹: www.statista.com