Insurances: car insurance market stabilizes according to Hannover Rück
The reinsurer believes that profitability has noticeably improved. However, due to high replacement part and repair costs, the development remains fragile.
German car insurers are seeing the benefits of price increases from previous years, according to reinsurer Hannover Rück. The industry has largely stabilized, with technical results returning to a slightly positive level and profitability improving noticeably, said E+S Rück, a Hannover Rück subsidiary. However, the development remains fragile due to rising replacement and repair costs, which continue to drive up claims inflation in the car insurance market.
E+S Rück expects a increasingly challenging risk environment, with factors such as inflation, cyber risks, and geopolitical uncertainties contributing to higher potential losses.
Written by urgent.news from Handelsblatt's report — not a translation of it. Machine-written — may contain errors; check the original before relying on it.
