In 2023, the European life insurance turnover showed varied trends by country. France and Germany, key markets, registered growth of 1.94% and 3.83% respectively. Denmark saw a significant decline of 64.15%. Italy's slight contraction of 0.28% contrasts with Luxembourg's robust increase of 4.63%. Growth was noted in mid-sized markets like Spain (2.62%) and Belgium (0.87%), while Latvia (-18.57%) and Netherlands (-3.98%) witnessed declines. Austria (-12.18%) and Estonia (-12.56%) also faced notable reductions.
Future trends suggest a focus on digital transformation and personalized insurance products, driven by technology advancements and evolving consumer expectations in European life insurance markets.
Top countries in Turnover of Life Insurance by Country
| # | 10 Countries | Million Euros | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 France | 193,190 | 2023 | +5.84% | +1.94% | View data |
| 2 | 2 Denmark | 137,250 | 2023 | +0.36% | -64.15% | View data |
| 3 | 3 Germany | 106,480 | 2023 | +2.51% | +3.83% | View data |
| 4 | 4 Italy | 99,580 | 2023 | -0.33% | -0.28% | View data |
| 5 | 5 United Kingdom | 73,900 | 2023 | -1.14% | +0.9% | View data |
| 6 | 6 Spain | 28,220 | 2023 | +3.54% | +2.62% | View data |
| 7 | 7 Belgium | 27,630 | 2023 | +0.77% | +0.87% | View data |
| 8 | 8 Luxembourg | 26,660 | 2023 | +8.69% | +4.63% | View data |
| 9 | 9 Latvia | 17,920 | 2023 | +9.29% | -18.57% | View data |
| 10 | 10 Sweden | 13,920 | 2023 | +1.11% | +0.85% | View data |
