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  • Reuters

    German insurers' body cuts growth outlook for 2024 premium income

    By Reuters,

    8 hours ago
    https://img.particlenews.com/image.php?url=1dlcr2_0uIXDIYN00

    MUNICH (Reuters) - German insurers expect to see a lower increase in premium income this year, the German Insurance Association (GDV) said on Monday, as the life insurance business struggles with a delayed turnaround in interest rates.

    The association now expects 2024 premium income to rise by 2.8% year-on-year, down from its previous forecast in January of a 3.8% jump.

    However, the GDV expects premium income across the German insurance industry to increase between 3.1% and 5.5% in 2025, the association said in its half-yearly outlook report.

    (Reporting by Alexander Huebner; writing by Rachel More; Editing by Varun H K)

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