European Production of Insurance, Reinsurance and Pension Funding by Country

In 2024, Germany leads the European production of insurance, reinsurance, and pension funding with a value of €88.18 billion, followed by France at €71.55 billion. Italy and Spain trail with €31.66 billion and €21.39 billion, respectively. The Netherlands, Ireland, and Belgium show moderate activity at €19.95 billion, €17.21 billion, and €13.63 billion, respectively. Austria, Luxembourg, Finland, Greece, Slovakia, Slovenia, and Estonia contribute smaller shares.

Year-on-year variations for 2023 highlight mixed trends: Germany (1.44%), France (1.39%), Italy (1.09%), Spain (0.91%), Netherlands (-1.19%), Ireland (2.9%), Belgium (2.88%), Austria (1.56%), Luxembourg (2.31%), Finland (2.17%), Greece (1.45%), Slovakia (0.78%), Slovenia (1.86%), and Estonia (2.5%). Over the last five years, compound annual growth rate (CAGR) suggests average year-on-year growth with more stability in countries like Ireland and Belgium.

Future trends to watch include increasing digital transformation, rising demand for personalized insurance products, and the impact of regulatory changes across Europe. The sustained growth in Ireland and Belgium suggests these countries may become key players. Monitoring shifts in the Netherlands and Spain, which show declining or minimal growth, will be critical. Economic conditions and geopolitical developments will also influence the sector's trajectory.