Leading insurance companies in Germany 2017-2022, by premium revenue
The German insurance market is characterized by significant differences between active companies. In 2022, Allianz was the leading insurance company in Germany with a revenue of approximately 152.67 billion euros. Second was Munich Re Group with a revenue of almost 70 billion euros. Although Germany is the largest economy in Europe, other countries such as Italy, France, and Spain had twice as many companies operating in their insurance sectors.
Allianz top for turnover
In 2023, Allianz was the most popular car insurance provider in Germany. Globally, the vast majority of Allianz's revenue was from insurance activities, with the remainder being from their asset management segment.
Top insurers dominate the market
In recent years, over half of the healthcare insurance market was attributable to the five largest insurers in Germany. Compared to healthcare insurance, the top five life insurance and property and casualty insurance (P&C) companies held slightly less control.