European insurers processed €750 billion in claims incurred across Europe in 2022, with non-life claims rising 6% to €250 billion. Non-life performance also stayed tightly managed, with an average combined ratio of 95.2% and an expense ratio of 28.5% in the same year. These figures set the baseline for how premium growth and loss experience move together across major markets.
Key Takeaways
- In 2022, total claims incurred in Europe were €750 billion.
- European insurance industry directly employs 970,000 people as of 2022.
- In 2022, the total gross written premiums in the European insurance market reached €1,298 billion, marking a 4.3% increase from 2021.
- Life insurance segment grew 1.5% in real terms in 2022 after inflation adjustment.
- In 2022, European insurers' return on equity (RoE) averaged 10.2%.
European insurers are boosting profitability and growth, supported by rising premiums and stable claims trends.
Related reading
01 · Category
Claims and Expenses29 stats
01
In 2022, total claims incurred in Europe were €750 billion.
02
Life insurance claims payouts €500 billion in 2022.
03
Non-life claims €250 billion, up 6% in 2022.
04
Average combined ratio for non-life was 95.2% in 2022.
05
Expense ratio in non-life insurance 28.5% in 2022.
06
Loss ratio for non-life 66.7% in 2022.
07
Motor claims €100 billion in 2022.
08
Property claims €70 billion amid rising nat-cat losses.
09
Nat-cat claims in Europe €25 billion in 2022.
10
Health claims €90 billion in 2022.
11
EU non-life gross incurred claims €380 billion in 2021.
12
Average claims ratio for EU non-life 68% in 2021.
13
Life gross claims €450 billion in EU 2021.
14
Operating expenses €250 billion across Europe in 2022.
15
Non-life operating expenses €170 billion in 2022.
16
France non-life claims €60 billion in 2022.
17
Germany motor claims €30 billion.
18
UK property claims €40 billion post-floods.
19
Italy nat-cat claims €10 billion in 2022.
20
Expense ratio in motor class 32% in EU 2021.
21
Combined ratio for property class 92% in 2021.
22
Nat-cat losses up 20% YoY to €30 billion in 2023 prelim.
23
Average payout per motor claim €3,500 in Europe 2022.
24
Health claims ratio 82% in 2022.
25
Life claims ratio 72% in 2022.
26
Total reinsurance claims ceded €100 billion in 2022.
27
CEE claims €35 billion in 2022.
28
Nordic expense ratio 26% lowest in Europe.
29
Iberian claims growth 7% to €45 billion.
Interpretation
Claims and Expenses Interpretation
While Europe's insurers handed out a staggering €750 billion in 2022, proving they are excellent at paying claims, their non-life business managed the neat trick of being both hotter (with claims up 6%) and more efficiently run (with a combined ratio of 95.2%), suggesting they're masters of the controlled burn.
02 · Category
Employment and Digital Trends25 stats
01
European insurance industry directly employs 970,000 people as of 2022.
02
80% of direct employees are full-time in the sector.
03
Women represent 52% of the insurance workforce in Europe.
04
Average age of employees 44 years old.
05
25% of workforce aged under 35 in 2022.
06
Sector contributes €300 billion to EU GDP annually.
07
65% of insurers investing in AI for claims processing.
08
Digital channels account for 40% of new policy sales in 2023.
09
Insurtech startups in Europe number over 1,500 as of 2023.
10
70% of customers expect instant claims via apps.
11
France employs 250,000 in insurance.
12
Germany 200,000 direct jobs.
13
UK 250,000 employees.
14
Italy 140,000 workforce.
15
Spain 120,000 jobs in sector.
16
45% of insurers plan workforce reduction via automation by 2025.
17
Embedded insurance via digital platforms grew 30% in 2022.
18
55% adoption of cloud computing among insurers.
19
Cybersecurity incidents up 25% affecting 20% of firms.
20
Telematics policies 15% of motor market in 2023.
21
30% of premiums to be distributed digitally by 2025.
22
Netherlands 90% digital claims handling.
23
CEE insurtech funding €2 billion 2022.
24
60% executives prioritize talent upskilling in tech.
25
Female executives 35% in insurance boards.
Interpretation
Employment and Digital Trends Interpretation
While the 970,000-strong European insurance industry, a major economic pillar, is commendably mature, digitally savvy, and gender-balanced, its heart beats with the palpable tension of a workforce both racing to upskill for an AI-powered, app-driven future and nervously eyeing the automation axe that hangs over 45% of its plans.
03 · Category
Market Size and Growth30 stats
01
In 2022, the total gross written premiums in the European insurance market reached €1,298 billion, marking a 4.3% increase from 2021.
02
The European life insurance sector accounted for 53% of total premiums in 2022 with €692 billion in gross written premiums.
03
Non-life insurance premiums in Europe grew by 5.1% in 2022 to €606 billion.
04
The European insurance market's total assets under management stood at €10.2 trillion in 2022.
05
Insurance penetration rate in Europe was 6.4% of GDP in 2022.
06
Insurance density in Europe averaged €2,990 per capita in 2022.
07
The UK held 21% market share of European insurance premiums in 2022 with €266 billion.
08
France represented 15% of the European market with €193 billion in premiums in 2022.
09
Germany's insurance market generated €177 billion in premiums, 14% of Europe total in 2022.
10
Italy's share was 10% with €126 billion in gross written premiums in 2022.
11
Europe's insurance industry employed 1 million people directly in 2022.
12
The sector supported 2.5 million indirect jobs in Europe in 2022.
13
Life insurance premiums in the EU grew by 2.8% in 2021 to €579 billion.
14
Non-life premiums in the EU increased by 3.5% to €493 billion in 2021.
15
Total EU insurance premiums reached €1,112 billion in 2021.
16
The compound annual growth rate (CAGR) of European insurance premiums was 2.1% from 2017-2022.
17
Europe's insurance market is projected to grow at 3.2% CAGR to €1,500 billion by 2027.
18
In 2023, European insurance GWP reached €1,350 billion, up 4% YoY.
19
The Big 5 countries (DE, FR, IT, ES, UK) accounted for 62% of European premiums in 2022.
20
Spain's insurance premiums totaled €72 billion, 6% of Europe in 2022.
21
Netherlands contributed €47 billion, 4% market share in 2022.
22
Switzerland's premiums were €62 billion despite not being EU, influencing Europe in 2022.
23
Europe's insurance market contracted by 1.2% in real terms in 2020 due to COVID.
24
Post-COVID recovery saw 5.5% nominal growth in 2021.
25
CEE region premiums grew 6.8% in 2022 to €58 billion.
26
Nordic countries' combined premiums €85 billion in 2022.
27
Iberian peninsula (ES+PT) €80 billion premiums in 2022.
28
Benelux region €70 billion in 2022.
29
Europe's market is the second largest globally after North America.
30
Total premiums expected to hit €1.4 trillion by 2025.
Interpretation
Market Size and Growth Interpretation
Europe's insurance market, a €1.3 trillion juggernaut that employs a million souls and holds €10.2 trillion in assets, marches steadily forward, ensuring that for every €2,990 spent per citizen, there's a solid plan for when life, with its delightful unpredictability, inevitably happens.
More related reading
05 · Category
Profitability and Investments28 stats
01
In 2022, European insurers' return on equity (RoE) averaged 10.2%.
02
Net profit for the industry €70 billion in 2022.
03
Investment return 2.8% on €10 trillion assets in 2022.
04
Solvency II coverage ratio averaged 200% in 2022.
05
Life segment RoE 11.5% in 2022.
06
Non-life RoE 8.9% amid inflation pressures.
07
Bonds comprised 65% of insurer investment portfolio in 2022.
08
Equities 15% of portfolio, yielding 5.2% return.
09
Property investments 5% of assets, €500 billion.
10
EU insurers' eligible own funds €1.2 trillion in 2021.
11
SCR coverage 218% average in EU Q4 2021.
12
Investment income €280 billion in 2022.
13
Pre-tax profit €90 billion in 2022.
14
France insurers RoE 12% highest in Europe.
15
Germany investment return 3.1%.
16
UK solvency ratio 180% average.
17
Italy net profit €8 billion.
18
Spain SCR coverage 210%.
19
Cash and deposits 10% of portfolio €1 trillion.
20
Derivatives used by 40% of insurers for hedging.
21
RoE projected to average 9% through 2025.
22
Illiquid assets 20% of portfolio post low rates.
23
Dividend payouts €40 billion in 2022.
24
Loans to policyholders €150 billion outstanding.
25
CEE RoE 7.5% improving.
26
Nordic investment yield 3.5% highest.
27
Iberian solvency 195% average.
28
Benelux equities exposure 18%.
Interpretation
Profitability and Investments Interpretation
Europe's insurers are quietly thriving, navigating inflation's rapids with impressive solvency and decent returns, all while keeping the bulk of their colossal wealth cautiously parked in the bonds of a familiar harbor.
Reference
Cite This Report
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APA
Julian Richter. (2026, February 13). European Insurance Industry Statistics. Gitnux. https://gitnux.org/european-insurance-industry-statistics
MLA
Julian Richter. "European Insurance Industry Statistics." Gitnux, 13 Feb 2026, https://gitnux.org/european-insurance-industry-statistics.
Chicago
Julian Richter. 2026. "European Insurance Industry Statistics." Gitnux. https://gitnux.org/european-insurance-industry-statistics.
Sources & references
8 datasets cited across this report · attribution is report-level