Europe Life Insurance Market Summary, Competitive Analysis and Forecast to 2027
Summary
Life Insurance in Europe industry profile provides top-line qualitative and quantitative summary information including: market size (value 2017-22, and forecast to 2027). The profile also contains descriptions of the leading players including key financial metrics and analysis of competitive pressures within the market.
Key Highlights
- The value of the life insurance market is shown in terms of gross premium incomes from mortality protection and retirement savings plans.
- The European life insurance market had total gross written premiums of $1,039.6 billion in 2022, representing a compound annual growth rate (CAGR) of 3% between 2017 and 2022.
- The life insurance segment accounted for market's the largest proportion in 2022, with total gross written premiums of $788.4 billion, equivalent to 75.8% of the market's overall value.
- In the third quarter of 2022, seasonally adjusted GDP increased by 0.3% in the Europe area compared with the previous quarter. According to an estimate published by Eurostat, the statistical office of the European Union. In the second quarter of 2022, GDP had grown by 0.8% in Europe. The number of employed persons increased by 0.3% in Europe in the third quarter of 2022, compared with the previous quarter. In the second quarter of 2022, employment had increased by 0.3% in Europe. The performance of the market is forecast to accelerate, with an anticipated CAGR of 4.9% for the five-year period 2022 - 2027, which is expected to drive the market to a value of $1,319.3 billion by the end of 2027.
- Save time carrying out entry-level research by identifying the size, growth, and leading players in the life insurance market in Europe
- Use the Five Forces analysis to determine the competitive intensity and therefore attractiveness of the life insurance market in Europe
- Leading company profiles reveal details of key life insurance market players’ global operations and financial performance
- Add weight to presentations and pitches by understanding the future growth prospects of the Europe life insurance market with five year forecasts
- What was the size of the Europe life insurance market by value in 2022?
- What will be the size of the Europe life insurance market in 2027?
- What factors are affecting the strength of competition in the Europe life insurance market?
- How has the market performed over the last five years?
- How large is Europe’s life insurance market in relation to its regional counterparts?
- 1 Executive Summary
- 1.1. Market value
- 1.2. Market value forecast
- 1.3. Category segmentation
- 1.4. Geography segmentation
- 1.5. Market share
- 1.6. Market rivalry
- 1.7. Competitive landscape
- 2 Market Overview
- 2.1. Market definition
- 2.2. Market analysis
- 3 Market Data
- 3.1. Market value
- 4 Market Segmentation
- 4.1. Category segmentation
- 4.2. Geography segmentation
- 5 Market Outlook
- 5.1. Market value forecast
- 6 Five Forces Analysis
- 6.1. Summary
- 6.2. Buyer power
- 6.3. Supplier power
- 6.4. New entrants
- 6.5. Threat of substitutes
- 6.6. Degree of rivalry
- 7 Competitive Landscape
- 7.1. Market share
- 7.2. Who are the leading players?
- 7.3. What strategies do leading players follow?
- 7.4. What are the strengths of leading players?
- 7.5. What has been the rationale behind recent M&A activity?
- 8 Company Profiles
- 8.1. Allianz SE
- 8.2. Assicurazioni Generali SpA
- 8.3. Prudential Plc
- 8.4. AXA SA
- 9 Macroeconomic Indicators
- 9.1. Country data
- 10 Appendix
- 10.1. Methodology
- 10.2. Industry associations
- 10.3. Related MarketLine research
- 10.4. About MarketLine
- List of Tables
- Table 1: Europe life insurance market value: $ billion, 2017-22
- Table 2: Europe life insurance market category segmentation: % share, by value, 2017–2022
- Table 3: Europe life insurance market category segmentation: $ billion, 2017-2022
- Table 4: Europe life insurance market geography segmentation: $ billion, 2022
- Table 5: Europe life insurance market value forecast: $ billion, 2022-27
- Table 6: Europe life insurance market share: % share, by value, 2022
- Table 7: Allianz SE: key facts
- Table 8: Allianz SE: Annual Financial Ratios
- Table 9: Allianz SE: Key Employees
- Table 10: Allianz SE: Key Employees Continued
- Table 11: Assicurazioni Generali SpA: key facts
- Table 12: Assicurazioni Generali SpA: Annual Financial Ratios
- Table 13: Assicurazioni Generali SpA: Key Employees
- Table 14: Assicurazioni Generali SpA: Key Employees Continued
- Table 15: Prudential Plc: key facts
- Table 16: Prudential Plc: Annual Financial Ratios
- Table 17: Prudential Plc: Key Employees
- Table 18: AXA SA: key facts
- Table 19: AXA SA: Annual Financial Ratios
- Table 20: AXA SA: Key Employees
- Table 21: AXA SA: Key Employees Continued
- Table 22: AXA SA: Key Employees Continued
- Table 23: Europe size of population (million), 2018–22
- Table 24: Europe gdp (constant 2005 prices, $ billion), 2018–22
- Table 25: Europe gdp (current prices, $ billion), 2018–22
- Table 26: Europe inflation, 2018–22
- Table 27: Europe consumer price index (absolute), 2018–22
- Table 28: Europe exchange rate, 2017–21
- List of Figures
- Figure 1: Europe life insurance market value: $ billion, 2017-22
- Figure 2: Europe life insurance market category segmentation: $ billion, 2017-2022
- Figure 3: Europe life insurance market geography segmentation: % share, by value, 2022
- Figure 4: Europe life insurance market value forecast: $ billion, 2022-27
- Figure 5: Forces driving competition in the life insurance market in Europe, 2022
- Figure 6: Drivers of buyer power in the life insurance market in Europe, 2022
- Figure 7: Drivers of supplier power in the life insurance market in Europe, 2022
- Figure 8: Factors influencing the likelihood of new entrants in the life insurance market in Europe, 2022
- Figure 9: Factors influencing the threat of substitutes in the life insurance market in Europe, 2022
- Figure 10: Drivers of degree of rivalry in the life insurance market in Europe, 2022
- Figure 11: Europe life insurance market share: % share, by value, 2022
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