Non-Life Insurance in Europe
Summary
Non-Life Insurance in Europe industry profile provides top-line qualitative and quantitative summary information including: market share, 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
- Non-life insurance is defined as any insurance not determined to be life insurance. It includes automobile and homeowners' policies and provides payments depending on the loss from a particular financial event. The market value is measured by the written premium generated by market players within a given year.
- The European non-life insurance market recorded written premiums of $691.5 billion in 2023, representing a compound annual growth rate (CAGR) of 3.2% between 2018 and 2023.
- The motor segment accounted for the market's largest proportion in 2023, with total written premiums of $185.8 billion, equivalent to 26.9% of the market's overall value.
- The European non-life insurance market is experiencing significant growth, driven by rising awareness of the importance of insurance in safeguarding assets and mitigating financial risks. This heightened awareness has led to an increase in the number of active non-life insurance policies. According to the Federal Financial Supervisory Authority of Germany, in 2023, the number of active non-life insurance policies in the country reached 548.2 million, an increase of 2.9% from the previous year.
- Save time carrying out entry-level research by identifying the size, growth, major segments, and leading players in the non-life insurance market in Europe
- Use the Five Forces analysis to determine the competitive intensity and therefore attractiveness of the non-life insurance market in Europe
- Leading company profiles reveal details of key non-life insurance market players’ global operations and financial performance
- Add weight to presentations and pitches by understanding the future growth prospects of the Europe non-life insurance market with five year forecasts by both value and volume
- What was the size of the Europe non-life insurance market by value in 2023?
- What will be the size of the Europe non-life insurance market in 2028?
- What factors are affecting the strength of competition in the Europe non-life insurance market?
- How has the market performed over the last five years?
- Who are the top competitors in Europe's non-life insurance 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. AXA SA
- 8.3. Covea Mutual Insurance Group Co
- 8.4. Groupama Assurances Mutuelles
- 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 non-life insurance market value: $ billion, 2018-23
- Table 2: Europe non-life insurance market category segmentation: % share, by value, 2018-23
- Table 3: Europe non-life insurance market category segmentation: $ billion, 2018-23
- Table 4: Europe non-life insurance market geography segmentation: $ billion, 2023
- Table 5: Europe non-life insurance market value forecast: $ billion, 2023-28
- Table 6: Europe non-life insurance 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: AXA SA: Key Facts
- Table 12: AXA SA: Annual Financial Ratios
- Table 13: AXA SA: Key Employees
- Table 14: AXA SA: Key Employees Continued
- Table 15: Covea Mutual Insurance Group Co: Key Facts
- Table 16: Covea Mutual Insurance Group Co: Key Employees
- Table 17: Groupama Assurances Mutuelles: Key Facts
- Table 18: Groupama Assurances Mutuelles: Key Employees
- Table 19: Groupama Assurances Mutuelles: Key Employees Continued
- Table 20: Europe Size of Population (million), 2019-23
- Table 21: Europe Real GDP (Constant 2010 Prices, $ Billion), 2019-23
- Table 22: Europe GDP (Current Prices, $ Billion), 2019-23
- Table 23: Europe Inflation, 2019-23
- Table 24: Europe Consumer Price Index (Absolute), 2019-23
- Table 25: Europe Exchange Rate, 2018-23
- List of Figures
- Figure 1: Europe non-life insurance market value: $ billion, 2018-23
- Figure 2: Europe non-life insurance market category segmentation: $ billion, 2018-23
- Figure 3: Europe non-life insurance market geography segmentation: % share, by value, 2023
- Figure 4: Europe non-life insurance market value forecast: $ billion, 2023-28
- Figure 5: Forces driving competition in the non-life insurance market in Europe, 2023
- Figure 6: Drivers of buyer power in the non-life insurance market in Europe, 2023
- Figure 7: Drivers of supplier power in the non-life insurance market in Europe, 2023
- Figure 8: Factors influencing the likelihood of new entrants in the non-life insurance market in Europe, 2023
- Figure 9: Factors influencing the threat of substitutes in the non-life insurance market in Europe, 2023
- Figure 10: Drivers of degree of rivalry in the non-life insurance market in Europe, 2023
- Figure 11: Europe non-life insurance market share: % share, by value, 2023
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