Life Insurance & Pension in Europe
Summary
Life Insurance & Pension in Europe industry profile provides top-line qualitative and quantitative summary information including: market size (value and volume 2018-23, and forecast to 2028). The profile also contains descriptions of the leading players including key financial metrics and analysis of competitive pressures within the market.
Key Highlights
- Life insurance & pension is the financial cover for a contingency linked with human life, like death, disability, accident, retirement etc. Human life is subject to risks of death and disability due to natural and accidental causes. When human life is lost or a person is disabled permanently or temporarily, there is loss of income to the household.
- The European life insurance & pension market recorded gross written premiums of $865.8 billion in 2023, representing a negative compound annual growth rate (CAGR) of 1.7% between 2018 and 2023.
- The life insurance segment accounted for the market's largest proportion in 2023, with total gross written premiums of $599.3 billion, equivalent to 69.2% of the market's overall value.
- The growth in the European life insurance & pension market is driven by the increasing population of individuals aged 65 and above. This demographic shift is fuelling demand for retirement savings plans and income protection policies as people seek financial security for their post-retirement years. According to Eurostat, the population of individuals aged 65 and above in the UK stood at 13.0 million in 2023, an increase of 1.8% from the previous year.
- Save time carrying out entry-level research by identifying the size, growth, major segments, and leading players in the life insurance & pension market in Europe
- Use the Five Forces analysis to determine the competitive intensity and therefore attractiveness of the life insurance & pension market in Europe
- Leading company profiles reveal details of key life insurance & pension market players’ global operations and financial performance
- Add weight to presentations and pitches by understanding the future growth prospects of the Europe life insurance & pension market with five year forecasts by both value and volume
- What was the size of the Europe life insurance & pension market by value in 2023?
- What will be the size of the Europe life insurance & pension market in 2028?
- What factors are affecting the strength of competition in the Europe life insurance & pension market?
- How has the market performed over the last five years?
- What are the main segments that make up Europe's life insurance & pension market?
- 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 are the strategies of the leading players?
- 7.4. What are the strengths of the leading players?
- 8 Company Profiles
- 8.1. Allianz SE
- 8.2. Assicurazioni Generali SpA
- 8.3. R+V Versicherung AG
- 8.4. Legal & General Assurance Society Limited
- 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 & pension market value: $ billion, 2018-23
- Table 2: Europe life insurance & pension market category segmentation: % share, by value, 2018-23
- Table 3: Europe life insurance & pension market category segmentation: $ billion, 2018-23
- Table 4: Europe life insurance & pension market geography segmentation: $ billion, 2023
- Table 5: Europe life insurance & pension market value forecast: $ billion, 2023-28
- Table 6: Europe life insurance & pension market share: % share, by value, 2023
- 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: R+V Versicherung AG: Key Facts
- Table 16: R+V Versicherung AG: Key Employees
- Table 17: Legal & General Assurance Society Limited: Key Facts
- Table 18: Legal & General Assurance Society Limited: Key Employees
- Table 19: Europe Size of Population (million), 2019-23
- Table 20: Europe Real GDP (Constant 2010 Prices, $ Billion), 2019-23
- Table 21: Europe GDP (Current Prices, $ Billion), 2019-23
- Table 22: Europe Inflation, 2019-23
- Table 23: Europe Consumer Price Index (Absolute), 2019-23
- Table 24: Europe Exchange Rate, 2018-23
- List of Figures
- Figure 1: Europe life insurance & pension market value: $ billion, 2018-23
- Figure 2: Europe life insurance & pension market category segmentation: $ billion, 2018-23
- Figure 3: Europe life insurance & pension market geography segmentation: % share, by value, 2023
- Figure 4: Europe life insurance & pension market value forecast: $ billion, 2023-28
- Figure 5: Forces driving competition in the life insurance & pension market in Europe, 2023
- Figure 6: Drivers of buyer power in the life insurance & pension market in Europe, 2023
- Figure 7: Drivers of supplier power in the life insurance & pension market in Europe, 2023
- Figure 8: Factors influencing the likelihood of new entrants in the life insurance & pension market in Europe, 2023
- Figure 9: Factors influencing the threat of substitutes in the life insurance & pension market in Europe, 2023
- Figure 10: Drivers of degree of rivalry in the life insurance & pension market in Europe, 2023
- Figure 11: Europe life insurance & pension market share: % share, by value, 2023
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