The past years have been particularly marked in the field of car insurance of a real price war in the battle for customers. Insurance industry made losses in particular. That should change in 2011, however.
The expected GDV for the year 2011, a rise in sales at the car insurance.
The General Association of German Insurers (GDV) is optimistic about the coming year. After losing the previous fiscal years that tried to undercut the insurance industry, especially in the automotive sector with low rates will continue to get each other to the premium - and thus the revenues - the insurers get back in perspective. This is true across industries, but especially for car insurance.
GDV is even talk of a real turnaround. This is expected for the first time in six years, a slight increase in sales. In the field of life insurance to substantial increases in new customers are expected, this mainly due to the huge demand for policies with single amounts that are often used as short-term investment. Overall, the revenue of the German insurer will in 2011 increase by 4.7 percent.
Significant growth is expected also in the field of credit insurance, legal expenses cover and accident insurance. Nevertheless, to the underwriting profit in the property and casualty insurance companies to contract. This GDV justified by the still unfavorable loss ratio. German insurer must pay for any damage to more and more, the industry association. It was in this form since the Elbe flood in 2001 has been there.
