In 2020, the amount of direct gross written premiums on the European life insurance market amounted to nearly 670 billion euros. This a decrease compared to the 772 billion euros recorded in 2019. The value of direct gross written premiums on the life insurance market in Europe peaked in 2018, when it reached approximately 840 billion euros.
Leading life insurance markets
The United Kingdom had the highest value of life insurance premiums among all European countries in 2019, followed by France and Italy. Together, the top three countries accounted for more than 60 percent of the European market. In terms of investment portfolio, the top three markets were France, the UK, and Germany, with a total value of over 5.1 billion euros.
Insurance market concentration in Europe
Market concentration is an easy way to illustrate how the market within an industry is distributed among companies of various sizes. In 2018, Germany, Sweden, and Italy were the countries with the least concentrated life insurance market in Europe. In all three countries, the combined market share of the three largest life insurance companies did not exceed 35 percent.
Total gross written life premiums on the insurance market in Europe from 2010 to 2020
(in billion euros)
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Insurance Europe. (August 5, 2022). Total gross written life premiums on the insurance market in Europe from 2010 to 2020 (in billion euros) [Graph]. In Statista. Retrieved November 10, 2024, from https://www-statista-com.ezproxy.canberra.edu.au/statistics/433335/insurance-europe-total-gross-written-life-premiums/
Insurance Europe. "Total gross written life premiums on the insurance market in Europe from 2010 to 2020 (in billion euros)." Chart. August 5, 2022. Statista. Accessed November 10, 2024. https://www-statista-com.ezproxy.canberra.edu.au/statistics/433335/insurance-europe-total-gross-written-life-premiums/
Insurance Europe. (2022). Total gross written life premiums on the insurance market in Europe from 2010 to 2020 (in billion euros). Statista. Statista Inc.. Accessed: November 10, 2024. https://www-statista-com.ezproxy.canberra.edu.au/statistics/433335/insurance-europe-total-gross-written-life-premiums/
Insurance Europe. "Total Gross Written Life Premiums on The Insurance Market in Europe from 2010 to 2020 (in Billion Euros)." Statista, Statista Inc., 5 Aug 2022, https://www-statista-com.ezproxy.canberra.edu.au/statistics/433335/insurance-europe-total-gross-written-life-premiums/
Insurance Europe, Total gross written life premiums on the insurance market in Europe from 2010 to 2020 (in billion euros) Statista, https://www-statista-com.ezproxy.canberra.edu.au/statistics/433335/insurance-europe-total-gross-written-life-premiums/ (last visited November 10, 2024)
Total gross written life premiums on the insurance market in Europe from 2010 to 2020 (in billion euros) [Graph], Insurance Europe, August 5, 2022. [Online]. Available: https://www-statista-com.ezproxy.canberra.edu.au/statistics/433335/insurance-europe-total-gross-written-life-premiums/
