The production value of the insurance, reinsurance, and pension funding sector in Finland showed significant fluctuations from 2013 to 2023. Starting at €3.22 billion in 2013, it increased to a peak of €5.03 billion in 2017. However, it experienced a downward trend since then, reaching €4.06 billion in 2023. Notably, the year-on-year variation demonstrated substantial volatility with notable growth in 2014 and 2017 but declines in between, particularly significant drops in 2019 and from 2021 through 2023.
Forecasts from 2024 to 2028 suggest a continuing decline, with an average annual decrease (CAGR) of 2.32%, ultimately reaching €3.51 billion by 2028. This suggests a forecasted 11.07% reduction over the five-year period.
Future trends to watch for include the impact of digital transformation on insurance operations, evolving consumer behaviors influenced by technological advancements, and potential regulatory changes that could further shape market dynamics.
