Forecast: Turnover of Life Insurance in the Netherlands

The turnover of life insurance in the Netherlands has been declining continuously from 2013, where it stood at 18.27 billion euros, to 2023, reaching a value of 9.81 billion euros. The value has decreased by -6.93% year-on-year in 2023, and the CAGR over the past five years leading up to 2023 is -3.98%. Forecasts suggest a continuing downward trend, with the value expected to drop to 6.27 billion euros by 2028, reflecting a forecasted 5-year CAGR of -7.16% and an overall reduction of -31.03% over the period.

Future trends to watch for include:

• Emerging market dynamics such as increased competition from insurtech companies offering innovative solutions.
• Potential regulatory changes aimed at customer protection which could impact industry profitability.
• Shifts in consumer behavior towards investment products and hybrid insurance-tax-efficient savings plans.
• Technological advancements and digital transformation impacting underwriting and customer service efficiency.