In 2023, the UK led the European life insurance market with 33.76% of enterprises, showing a positive 5.12% year-on-year growth. Germany and France, trailing behind, faced declines at -8.41% and -0.62%, respectively. Southern European countries like Spain, Portugal, and Italy also saw reductions in enterprise numbers, as did Belgium and the Netherlands with significant decreases of -6.17% and -9.71%. Notably, Slovenia and Norway showed resilience with positive growth of 2.38% and 1.49%, respectively. Over the past two years, most countries reflected a downward trend in the number of enterprises.
Looking forward, expect a polarized market with potential consolidation in Western Europe, while Eastern European markets may exhibit minor growth. Regulatory changes and digital transformation are key trends to monitor for their impacts on market dynamics and enterprise operations.
Top countries in Number of Enterprises of Life Insurance Share by Country (Units (Enterprises))
| # | 10 Countries | Percent | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 United Kingdom | 33.76 | 2023 | +4.73% | +5.12% | View data |
| 2 | 2 Germany | 28.94 | 2023 | -10.68% | -8.41% | View data |
| 3 | 3 France | 6.33 | 2023 | 0% | -0.62% | View data |
| 4 | 4 Spain | 4.01 | 2023 | -7.41% | -5.11% | View data |
| 5 | 5 Luxembourg | 2.89 | 2023 | 0% | -2.09% | View data |
| 6 | 6 Sweden | 2.73 | 2023 | 0% | -1.14% | View data |
| 7 | 7 Italy | 2.73 | 2023 | -2.86% | -2.46% | View data |
| 8 | 8 Denmark | 2.08 | 2023 | 0% | -2.82% | View data |
| 9 | 9 Poland | 2 | 2023 | 0% | -0.78% | View data |
| 10 | 10 Belgium | 1.92 | 2023 | -4% | -6.17% | View data |
