The production value of non-life insurance in the Netherlands has shown notable variation over the past decade. Between 2013 and 2016, there was a general decline followed by a recovery that gained significant momentum from 2018 onwards. In 2023, the production value stood at 9.26 billion euros, reflecting a growth trend driven by the increase in demand for non-life insurance products.
Key trends include significant year-on-year fluctuations, such as the sharp decline of 16.42% in 2015 and a remarkable increase of 28.33% in 2019. More steady growth rates prevailed from 2020 onwards, averaging between 2-4% per year, with a cumulative annual growth rate (CAGR) of 8.01% over the last five years leading up to 2023.
Forecast data from 2024 to 2028 indicates continued growth, albeit at a slower pace, with an average forecasted five-year CAGR of 2.49% and an overall growth rate of 13.08% by 2028.
Future trends to watch for include the potential impacts of economic fluctuations, technological advancements in insurance provision, and evolving consumer risk profiles, which could influence the production value growth dynamics over the upcoming years.
