German insurers lower ’24 premium income growth forecast

The German Insurance Association (GDV) announced on Monday that it anticipates a smaller increase in premium income for 2024, forecasting a rise of 2.8 per cent year-on-year, down from the 3.8 per cent increase predicted in January.

This adjustment is attributed to the life insurance sector’s struggle with a delayed turnaround in interest rates.

Despite this, the GDV remains optimistic about the future, projecting a more robust growth in premium income for 2025, expected to be between 3.1 per cent and 5.5 per cent, according to the association’s half-yearly outlook report.

Attribution: Reuters.