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German auto insurers lost billions on rising repair costs in 2023

The cost of automobile insurance in Germany is expected to rise by an average of 10% in the coming months, the leader of the German insurance industry group GDV said on Thursday. Rising prices for repairs and spare parts led insurers to lose €2.9 billion ($3.2 billion) in 2023, GDV President Norbert Rollinger said. Many insurance companies already raised their rates at the turn of the year. However, according to Rollinger's assessment, motor vehicle insurers can only be expected to r...
Norbert Rollinger German Insurance Association Insurance Industry Motor Vehicle Insurers
Source: yahoo.com

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