OLDWICK, N.J.--(BUSINESS WIRE)--In this A.M.BestTV episode, Konstantin Langowski, financial analyst, A.M. Best, reviews the factors underlying the stable outlook for the German non-life insurance market, including how digital technology is remaking competition in that sector. Click on http://www.ambest.com/v.asp?v=german618 to view the entire program.
Germany's robust economy has been driving growth in the country’s non-life insurance market, and the growth is one of the reasons A.M. Best has a stable outlook on the sector.
“There are two main reasons A.M. Best has a stable outlook on this sector: solid technical performance and the strong balance sheets of the German non-life insurance,” said Langowski. “The market’s main two segments, motor and property, which account for about 70% of the market, have been profitable over the past years, largely supported by good premium increases.”
Langowski also spoke about how companies can be successful going forward.
“Companies that are able to successfully embrace technology, the digital evolution and change, A.M. Best believes will likely benefit from lower cost, better policy holder retention, as well as longer-term success,” he said.
To access a copy of this briefing, titled, “Market Segment Outlook: Germany Non-Life,” visit http://www3.ambest.com/bestweek/purchase.asp?record_code=272700.
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