In 2024, Germany led the European insurance, reinsurance, and pension funding sector with the highest turnover of €370.16 billion, posting a robust growth of 4.78% from 2023. France followed with €290.89 billion, growing by 1.83%. Denmark experienced a significant decline of 63.89%, whereas Belgium saw a healthy rise of 6.18%. Despite minor fluctuations, other countries like Italy and the Netherlands showed relatively stable trends with modest growth figures. Notably, Bulgaria reported a noticeable increase of 7.44%.
Future trends to watch include the impact of digitalization and regulatory changes, potentially reshaping industry dynamics and market shares. Additionally, increased focus on ESG (Environmental, Social, Governance) factors may influence investment strategies and insurance offerings.
Top countries in Turnover of Insurance, Reinsurance and Pension Funding by Country
| # | 10 Countries | Million Euros | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 Germany | 370,160 | 2023 | +4.2% | +4.78% | View data |
| 2 | 2 France | 290,890 | 2023 | +4.35% | +1.83% | View data |
| 3 | 3 Denmark | 207,520 | 2023 | +0.59% | -63.89% | View data |
| 4 | 4 Italy | 152,100 | 2023 | -0.19% | +0.067% | View data |
| 5 | 5 Netherlands | 86,640 | 2023 | +3.95% | +5.79% | View data |
| 6 | 6 Spain | 84,310 | 2023 | +2.19% | -0.44% | View data |
| 7 | 7 Belgium | 46,250 | 2023 | +3.53% | +6.18% | View data |
| 8 | 8 Luxembourg | 29,780 | 2023 | +8.52% | +4.88% | View data |
| 9 | 9 Austria | 20,950 | 2023 | +0.96% | +1.18% | View data |
| 10 | 10 Norway | 18,300 | 2023 | -0.45% | -0.69% | View data |
