In 2023, Germany leads the sector with a value of €98.19 billion, followed by the Netherlands (€22.6 billion) and Spain (€19.5 billion). Despite minor negative growth in Spain (-0.47%) and significant declines in Croatia (-2.21%), most countries showed positive growth, with Luxembourg (4.73%) and Estonia (3.98%) experiencing the highest increases. The Compound Annual Growth Rate (CAGR) will provide a more comprehensive long-term trend when updated.
Looking forward, the European insurance, reinsurance, and pension sectors are expected to experience growth driven by increased demand for retirement planning and risk management solutions. Innovations in InsurTech and evolving regulatory frameworks will also play crucial roles in shaping the market landscape.
Top countries in Output of Insurance, Reinsurance and Pension Funding by Country
| # | 10 Countries | Million Euros | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 Germany | 98,190 | 2023 | +2.57% | +2.83% | View data |
| 2 | 2 Netherlands | 22,600 | 2023 | +0.64% | +1.3% | View data |
| 3 | 3 Spain | 19,500 | 2023 | +0.68% | -0.47% | View data |
| 4 | 4 Belgium | 13,350 | 2023 | +2.25% | +2.45% | View data |
| 5 | 5 Luxembourg | 5,010 | 2023 | +2.52% | +4.73% | View data |
| 6 | 6 Finland | 3,590 | 2023 | +2.84% | +2.49% | View data |
| 7 | 7 Portugal | 3,520 | 2023 | -0.94% | +0.76% | View data |
| 8 | 8 Greece | 1,650 | 2023 | +0.21% | +2.88% | View data |
| 9 | 9 Slovakia | 1,350 | 2023 | +2.09% | +2.49% | View data |
| 10 | 10 Croatia | 621.89 | 2023 | +2.25% | -2.21% | View data |
