Leading insurance companies in Germany 2020, by revenue in gross written premiums

The German insurance market is characterized by great differences between active companies. In 2020, Allianz was the leading insurance company in Germany with a revenue of approximately 140.5 billion euros. Second was Münchener Rückversicherungs-Gesellschaft AG (Munich Re) with a revenue of almost 54.9 billion euros. As of 2019, Germany had the highest number of companies operating in the insurance industry of any European country.

Allianz top for turnover

In 2020, almost a quarter of survey respondents indicated they had one or more insurances at Allianz, making it the biggest insurer 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

As of 2018, 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.