The National for February 13, 2017
FRANKFURT February 3 Premiums in Germany market for car insurance harshly disputed 20 billion euro 28 billion are rising, indicating a recovery may have finally taken hold, mutual insurer HUK Coburg said Thursday the prices and premiums are to rise, said a spokesman for HUK, a major nonprofit insurer that has strongly influenced the market in recent years, listed companies to put pressure on the stock market such as Allianz.
We'll have to wait to see if it is sustainable, the spokesman, who previously expressed doubts about forecasts of a recovery.
The rise in claims for damages in the last two winters have reduced the margin for insurers to cut prices for auto insurance, while the general economic recovery encouraged a pickup in the vehicle and the traffic of goods and therefore the number of road accidents.
A return of mild winter weather probably would not be enough to encourage a renewed trend of lower prices, said spokesman HUK raised the number of vehicles it provides 90 000 at the end of last year , bringing its total to 8 to 77 million.
The gain is less than before, but was still a bit of a surprise because premiums had stopped falling, the spokesman.
Millions of Germans usually go car insurance providers at the end of each year, looking for lower-cost alternatives.
Premiums also rose, HUK said, but declined to give details of the auto insurance division of the insurer premiums from 2 to 26 billion euros in 2009.
The stands of the auto insurance market as insurers listed Allianz, Generali and AXA against profit as mutual HUK Coburg.
Premiums in Germany had s slip due to a stagnant number of insured cars and a vicious price war among insurers, but the body of GDV insurance trade of the country are expected premiums would increase in 2010 for the first time in six years.
The rival HUK for the No. 1 spot insurer car, Allianz, which provided approximately 8 to 44 million vehicles as of the end of 2009, declined to comment on the business at the end of last year, saying that he planned to reveal details March 3 reports by Jonathan Gould; Edited by Jon Loades-Carter 1 Euro 7257.
Market of the German motor insurance firming HUK Reuters, German insurance market.