Industry-specific environment

Most insurance undertakings have hitherto withstood the crisis relatively well. In this context, the focus in the year under review was on prices commensurate with the risks. The financial standing of market players has assumed even greater importance as a consequence of the crisis – something which is especially true of reinsurers.

Despite the financial and economic crisis German insurers were well positioned in 2009 and remained on an expansionary course in the year under review. Against the backdrop of robust insurance demand, they were able to boost their premium income even in these difficult economic times. The most significant contribution in this regard was delivered by private health insurers. In this way the German insurance industry emerged as a stabilising factor for the economy in 2009. In the current year, too, the effects of the economic crisis on the insurance industry should be moderate.