In 2023, Germany led European insurance, reinsurance, and pension funding with €57.71 million, followed by the Netherlands (€13.28 million) and Spain (€11.46 million). Belgium and Luxembourg showed positive growth in their respective outputs. Luxembourg exhibited the highest year-on-year growth at 4.73%, while Spain and Croatia saw declines. Growth was consistent across most countries, indicating resilience in the European market, with the highest five-year CAGR seen in Estonia and Luxembourg.
Future trends to watch in the sector include:
- Strong growth potential in smaller markets like Estonia and Lithuania due to high year-on-year increases.
- Germany’s dominant share facing challenges from rising markets and regulatory changes.
- Technological advancements impacting traditional and reinsurance practices.
Top countries in Output of Insurance, Reinsurance and Pension Funding Share by Country (Million Euros)
| # | 10 Countries | Percent | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 Germany | 57.71 | 2023 | +2.57% | +2.83% | View data |
| 2 | 2 Netherlands | 13.28 | 2023 | +0.64% | +1.3% | View data |
| 3 | 3 Spain | 11.46 | 2023 | +0.68% | -0.47% | View data |
| 4 | 4 Belgium | 7.84 | 2023 | +2.25% | +2.45% | View data |
| 5 | 5 Luxembourg | 2.94 | 2023 | +2.52% | +4.73% | View data |
| 6 | 6 Finland | 2.11 | 2023 | +2.84% | +2.49% | View data |
| 7 | 7 Portugal | 2.07 | 2023 | -0.94% | +0.76% | View data |
| 8 | 8 Greece | 0.97 | 2023 | +0.21% | +2.88% | View data |
| 9 | 9 Slovakia | 0.79 | 2023 | +2.09% | +2.49% | View data |
| 10 | 10 Croatia | 0.37 | 2023 | +2.25% | -2.21% | View data |
