German Insolvencies to Hit 25,900 in 2026, Highest Since 2013
Hamburg – October 27, 2026 -- German corporate insolvencies will rise 8% in 2026 to 25,900 cases, the highest level in 13 years, according to Allianz Trade's latest global insolvency study. The credit insurer expects no relief in 2027, with cases flat (0%) at the same level.
Allianz Trade raises German forecast well above spring estimate
In spring, Allianz Trade projected a 2% rise for Germany in 2026, or 4% if the Middle East conflict persisted. Transport and logistics, construction, hospitality, and the automotive and mechanical engineering industries are hit hardest, according to Milo Bogaerts, CEO of Allianz Trade for Germany, Austria and Switzerland.
Cases have climbed a cumulative 85% since 2021 and sit 30% above pre-pandemic levels, though still well below global financial crisis peaks. A 5% decline to 24,600 cases is forecast for 2028, as economic headwinds ease and fiscal stimulus takes effect.