The dataset reveals a historical fluctuation in households' life insurance and annuity entitlements in Belgium, peaking in 2020 at €197.24 billion before experiencing a marked decline. The value in 2023 stood at €139.47 billion, reflecting a significant downturn with a -6.57% year-on-year variation. The most notable drops occurred in 2022 with a -22.8% decline. Over the last five years, the CAGR has been -5.38%, indicating a steady decrease in entitlements.
Looking forward, the forecasts suggest a continual decline with an anticipated five-year CAGR of -6.87% through 2028. By that year, the value is projected to decrease to €90.74 billion, representing a cumulative reduction of roughly 30% from 2023.
Future trends to watch for include potential market stabilization amidst economic recovery efforts, changes in regulatory frameworks, demographic shifts impacting life insurance needs, and emerging alternative financial products that might influence consumer behavior and investment patterns.
