AM Best

Best’s Market Segment Report: AM Best Maintains Negative Outlook on Germany’s Non-Life Insurance Segment


Konstantin Langowski
Senior Financial Analyst
+31 20 308 5431

Dr Angela Yeo
Senior Director, Analytics
+31 20 308 5421

Richard Banks
Director, Industry Research – EMEA
+44 20 7397 0322

Edem Kuenyehia
Director, Market Development & Communications
+44 20 7397 0280


AMSTERDAM - DECEMBER 18, 2023 08:19 AM (EST)
AM Best is maintaining its outlook for Germany’s non-life insurance segment at negative.

In its new Best’s Market Segment Report, “Market Segment Outlook: Germany Non-Life Insurance,” AM Best says subdued growth prospects, on an inflation-adjusted basis, continue to be a headwind for insurers in Germany. In addition, persistent claims inflation and a competitive operating environment weigh on insurers’ underwriting profitability, while natural catastrophe losses bring volatility to results.

Nonetheless, the report notes that the segment has built a good buffer in risk-adjusted capitalisation to absorb potential earnings volatility. The segment also has a balanced market composition with profitable sub-segments.

To access a complimentary copy of this market segment report, please visit .

AM Best is a global credit rating agency, news publisher and data analytics provider specialising in the insurance industry. Headquartered in the United States, the company does business in over 100 countries with regional offices in London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City.