In 2023, Germany led the market in European production value of non-life insurance with a significant share, followed by the United Kingdom and France. Notable growth was observed in countries like Belgium, Slovenia, and Luxembourg, while Denmark and Latvia experienced substantial declines. Other markets such as Italy, the Netherlands, and Spain showed moderate to strong growth indicating a healthy trajectory.
Key trends over the past two years include:
- Germany and the United Kingdom maintaining leadership with continued, albeit slower, growth.
- Italy and Netherlands witnessing solid performance with notable year-on-year increases.
- Steep declines in Denmark and Latvia.
- Strong rebounds and growth in smaller markets like Belgium, Slovenia, and Estonia.
Looking ahead, key trends to watch in 2024 include the recovery of Denmark and Latvia, potential market saturation impacts on larger markets like Germany and the UK, and the performance of smaller but rapidly growing markets such as Belgium and Slovenia. The effects of macroeconomic variables including inflation, regulatory changes, and technological advancements will be crucial in shaping future growth trajectories across Europe.
Top countries in Production Value of Non Life Insurance Share by Country (Million Euros)
| # | 10 Countries | Percent | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 Germany | 27.72 | 2023 | +2.87% | +2.6% | View data |
| 2 | 2 United Kingdom | 17.72 | 2023 | -0.16% | +1.18% | View data |
| 3 | 3 France | 14.1 | 2023 | +0.36% | +0.42% | View data |
| 4 | 4 Italy | 10.71 | 2023 | +6.12% | +6.14% | View data |
| 5 | 5 Denmark | 6.55 | 2023 | -4.89% | -67.49% | View data |
| 6 | 6 Austria | 4.91 | 2023 | +2.46% | +3.2% | View data |
| 7 | 7 Spain | 4.54 | 2023 | +5% | +4.11% | View data |
| 8 | 8 Netherlands | 4.26 | 2023 | +3.62% | +8.01% | View data |
| 9 | 9 Belgium | 3 | 2023 | +11.58% | +18.05% | View data |
| 10 | 10 Poland | 2.36 | 2023 | +2.18% | +1.39% | View data |
