Germany leads European production volumes in the insurance, reinsurance, and pension funding sector with 89.38 billion Euros in 2024, followed by Italy (27.77 billion Euros) and the Netherlands (21.2 billion Euros). While Germany experienced a year-on-year growth of 1.64% in 2023, Italy and the Netherlands saw slight declines of -0.1% and -0.25%, respectively. Belgium's volume grew marginally by 0.29%, whereas Austria saw a slightly higher growth of 0.98%. Luxembourg's value increased significantly by 2.26%, while modest growth rates were observed in Finland (0.35%), Slovenia (1.18%), and Estonia (1.27%).
Looking forward, the market is likely to see continued growth in Germany, bolstered by its already significant lead. Luxembourg's rapid increase suggests potential gains, possibly driven by favorable regulatory conditions and investment in financial technologies. A cautious outlook for Italy and the Netherlands could indicate further stagnation unless structural reforms are undertaken. Monitoring the impact of digital transformation, regulatory changes, and economic stability across Europe will be crucial for understanding future trends in this sector.
Top countries in Production Volumes of Insurance, Reinsurance and Pension Funding by Country
| # | 9 Countries | Million Euros | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 Germany | 89,380 | 2023 | +1.12% | +1.64% | View data |
| 2 | 2 Italy | 27,770 | 2023 | +0.025% | -0.1% | View data |
| 3 | 3 Netherlands | 21,200 | 2023 | -0.22% | -0.25% | View data |
| 4 | 4 Belgium | 11,370 | 2023 | -0.3% | +0.29% | View data |
| 5 | 5 Austria | 6,890 | 2023 | +0.62% | +0.98% | View data |
| 6 | 6 Luxembourg | 3,790 | 2023 | +1.87% | +2.26% | View data |
| 7 | 7 Finland | 3,090 | 2023 | +0.49% | +0.35% | View data |
| 8 | 8 Slovenia | 933.31 | 2023 | +1.08% | +1.18% | View data |
| 9 | 9 Estonia | 227.22 | 2023 | +1.64% | +1.27% | View data |
