Forecast: Turnover of Life Insurance in Belgium

The turnover of life insurance in Belgium has experienced modest fluctuations from 2013 to 2023. Starting at 25.53 billion euros in 2013, it saw minor increases and decreases, peaking at 27.95 billion euros in 2019 before stabilizing around 27.63 billion euros in 2023. The compound annual growth rate (CAGR) over the last five years (2018-2023) was 0.87%. Noteworthy variations include a significant drop of 2.87% in 2020 followed by minor increases through to 2023.

Future trends to watch for include:

• Consistent, albeit slow, growth projected with a forecasted CAGR of 0.59% from 2024 to 2028.
• Expected steady rise in turnover, reaching 28.67 billion euros by 2028, representing a forecasted growth rate of 2.97% over the next five years.
• Potential impacts of economic fluctuations and regulatory changes on the life insurance market.