Premiums per capita in 30 different countries in Europe 2020

In 2020, a total of 18 European countries had an average value of insurance premiums per capita amounting to more than 1,000 euros. Insurance density was the highest in Luxembourg with approximately 56,500 euros per capita.

Insurance penetration

Another indicator that can be used to compare different insurance markets is insurance penetration or the ratio of insurance premiums to a country’s GDP. Among all European countries in 2020, the insurance sector was most developed in Luxembourg, Denmark and Finland. In total, 14 countries in Europe had an insurance penetration rate of five percent or higher.

Insurance companies on the European market

As of June 2022, three of the largest life and health insurance companies in Europe by market capitalization were Swiss, German and French companies. Nevertheless, Luxembourg was the country with the largest volume of domestic insurance companies in Europe as of 2020.