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German Non-Life Insurance Premiums To Soar Again

Gross premium income at German non-life insurers is expected to climb to E54.7 billion ($76.9 billion)

Premium income at German property and casualty insurers, including units of Allianz SE and Talanx AG, is likely to increase by 0.2% for a second year in 2009 – reported in Bloomberg.

Gross premium income at German non-life insurers is expected to climb to E54.7 billion ($76.9 billion). The majority of this year’s German non-life insurance business, which includes segments such as motor, household, personal liability and casualty insurance, was signed.

Motor insurance, a non-life insurance segment in Germany with a share of about 37% of premium income, will continue to see a decline in revenue from premiums. Premium income in the motor segment is forecast to decline about 1.4% to E20.1 billion this year.

The combined ratio of German trade credit and surety insurers, including units of Euler Hermes SA, Atradius NV and Coface SA, is expected to worsen to more than 120% this year from 87% in 2008.