Key Market Indicators
Belgian insurance spending is projected to reach approximately €10.1 billion by 2028, up from €9.2 billion in 2023. This marks an annual growth rate of 1.5%, according to recent data. Since 2000, the demand for insurance in Belgium has increased at an annual rate of 2.9%. This steady rise highlights the growing importance of insurance in the Belgian economy. In terms of gross written premium, Belgium is expected to hit $39.2 billion by 2028, rising from $36.3 billion in 2023. This reflects an average annual growth rate of 1.2%. Since 1988, the supply of gross written premiums in Belgium has been climbing at an annual rate of 1.5%. In 2023, Belgium ranked 12th globally in this category, with Denmark slightly ahead at $36.3 billion. The leading countries in gross written premiums in 2023 were the United Kingdom, Germany, and the Netherlands, occupying the second, third, and fourth spots respectively.
