FRANKFURT, Jan 31 (Reuters) - German insurers’ premium volumes will increase by 1.3 pct this year, amid low interest rates but buoyed by robust growth in Europe’s largest economy, after exceeding a 2017 growth targets, trade body GDV said.
While life insurance premiums slid by 0.1 percent in 2017, falling short of a 0.5 percent target, property and casualty (P&C) grew by 2.9 percent, outperforming a forecast of 2.1 percent, GDV said on Wednesday.
Overall 2017 premiums rose by 1.7 percent to 197.7 billion euros ($246 billion), ahead of the target of at least 1 percent growth.
For 2018, GDV expects life insurance premiums to decline by 0.3 percent, while it sees P&C premiums rising by 3 percent.
GDV’s 450 members include some of Europe’s largest insurance sector companies, such as Allianz, Munich Re and Talanx. ($1 = 0.8042 euros) (Reporting by Arno Schuetze; Editing by Maria Sheahan)