German life insurers report decline in long-term care annuity business

German life insurers recorded 5,374 new long-term care annuity insurance policies in 2025, a slight decrease from the 5,382 recorded in 2024. According to data from the German Insurance Association (GDV), this represents the sixth decline in new business over the last seven years.

The current figures are near an absolute low point. For comparison, the industry previously saw five-figure annual new business volumes prior to 2020, peaking at nearly 34,000 policies in 2013. The market share of new long-term care annuity insurance has dropped to approximately 0.1 percent, down from highs of 0.6 percent in 2013, 2014, and 2016.

By the end of 2025, the total stock of these policies stood at 237,957, representing a 0.8 percent decrease from the previous year. Since 2017, the share of long-term care annuity insurance within the total insurance stock has remained relatively stable at around 0.3 percent.