While €92.4 billion in annual premiums reveals a thriving market, a deeper look at the Dutch insurance industry shows a sector marked by digital transformation, robust regulation, and shifting consumer priorities.
Key Takeaways
- In 2022, the total gross written premiums in the Netherlands insurance market amounted to €92.4 billion, representing a 4.2% increase from 2021
- The Dutch insurance sector's total assets under management reached €1.1 trillion as of end-2022
- Non-life insurance accounted for 52% of total premiums in the Netherlands in 2022, equating to €48.1 billion
- Unit-linked life insurance premiums surged 12% to €8.9 billion in Netherlands 2022
- Traditional life insurance premiums in Netherlands declined 2.1% to €16.7 billion in 2022
- Annuity payouts from life insurers totaled €15.4 billion in Netherlands 2022
- Property insurance premiums in Netherlands non-life sector were €12.4 billion in 2022
- Motor insurance dominated non-life with €8.7 billion premiums in Netherlands 2022
- Fire and property claims payouts totaled €4.2 billion in Dutch non-life 2022
- Basic health insurance coverage rate was 99.8% of Dutch population in 2022
- Total health insurance premiums collected €28.9 billion in Netherlands 2022
- Supplementary health policies numbered 5.3 million in Netherlands 2022
- Dutch insurers complied with Solvency II at 98.5% rate in 2022
- Minimum Capital Requirement coverage was 250% average for Netherlands insurers 2022
- EIOPA stress test pass rate for Dutch insurers was 100% in 2022 exercise
The Dutch insurance market grew to €92.4 billion in premiums in 2022, with strong non-life and digital adoption.
Health Insurance Statistics
- Basic health insurance coverage rate was 99.8% of Dutch population in 2022
- Total health insurance premiums collected €28.9 billion in Netherlands 2022
- Supplementary health policies numbered 5.3 million in Netherlands 2022
- Average basic health premium was €1,620 per year per adult in 2022 Netherlands
- Health claims expenditure reached €26.4 billion net in Dutch basic insurance 2022
- Dental care reimbursements under supplementary insurance €2.1 billion 2022 Netherlands
- Physiotherapy claims processed 14.5 million sessions in Netherlands 2022
- Switching rate for health insurers was 5.9% involving 1 million Dutch in 2022
- Mental health coverage claims up 18% to €1.8 billion in 2022 Netherlands
- Hospital care accounted for 42% of basic health spending in Netherlands 2022
- Long-term care insurance premiums €4.7 billion in Netherlands 2022
- Prescription drugs reimbursements €8.2 billion under basic health 2022 Netherlands
- GP visits covered 45 million times in basic health insurance Netherlands 2022
- Maternity care claims €650 million in Dutch health insurance 2022
- Optometry supplementary premiums €1.1 billion covering 3.2 million policies 2022
- Chronic disease management programs served 2.8 million Dutch in 2022
- Health insurers' solvency ratio averaged 215% in Netherlands 2022
- Telemedicine claims rose 32% to €450 million in health insurance 2022 Netherlands
Health Insurance Statistics Interpretation
The Dutch health system boasts near-universal coverage with enviable stability, yet the €28.9 billion in premiums reveals a nation vigorously—and increasingly—investing in everything from mental health to maternity care, all while maintaining insurers so financially robust they could probably buy their own hospital.
Life Insurance Statistics
- Unit-linked life insurance premiums surged 12% to €8.9 billion in Netherlands 2022
- Traditional life insurance premiums in Netherlands declined 2.1% to €16.7 billion in 2022
- Annuity payouts from life insurers totaled €15.4 billion in Netherlands 2022
- New life insurance policies issued in Netherlands numbered 450,000 in 2022
- Life insurance claims ratio was 92.3% in Dutch market 2022
- Term life coverage protected 4.2 million Dutch households in 2022
- Average life insurance premium per policyholder was €1,850 annually in Netherlands 2022
- Whole life policies represented 28% of life insurance portfolio in Netherlands 2022
- Life insurance market concentration: top 3 players held 55% share in Netherlands 2022
- Savings component in life policies grew to €220 billion assets in Netherlands 2022
- Death claims paid by life insurers amounted to €2.1 billion in Netherlands 2022
- Endowment policies payouts reached €4.5 billion in Dutch life sector 2022
- Life insurance penetration among Dutch over-65s was 72% in 2022
- Investment return on life portfolios averaged 4.2% in Netherlands 2022
- Hybrid life products premiums were €3.2 billion in Netherlands 2022
- Surrender rates for life policies increased to 5.8% in Dutch market 2022
- Group life insurance covered 85% of Dutch workforce in 2022
- Critical illness riders added to 15% of new life policies in Netherlands 2022
Life Insurance Statistics Interpretation
The Dutch are pragmatically pivoting, as evidenced by a 12% surge in unit-linked premiums and a decline in traditional life insurance, suggesting they're betting on market-linked growth while cautiously managing a high 92.3% claims ratio and ensuring 72% of their elderly remain covered.
Market Overview
- In 2022, the total gross written premiums in the Netherlands insurance market amounted to €92.4 billion, representing a 4.2% increase from 2021
- The Dutch insurance sector's total assets under management reached €1.1 trillion as of end-2022
- Non-life insurance accounted for 52% of total premiums in the Netherlands in 2022, equating to €48.1 billion
- The penetration rate of insurance in the Netherlands was 8.7% of GDP in 2022, above the EU average of 7.1%
- Life insurance premiums grew by 3.8% year-on-year to €44.3 billion in 2022 in the Netherlands
- The number of insurance companies operating in the Netherlands was 143 in 2022, down from 150 in 2020
- Combined ratio for the Dutch non-life market improved to 95.2% in 2022 from 97.8% in 2021
- Insurance density in the Netherlands stood at €5,200 per capita in 2022
- Total claims paid by Dutch insurers reached €65.7 billion in 2022
- The Dutch insurance market's return on equity was 8.4% in 2022
- Pension premiums in the Dutch insurance sector totaled €38.2 billion in 2022
- Digital insurance policies in the Netherlands increased by 15% to 12.5 million in 2022
- Market share of top 5 insurers in Netherlands was 45% of total premiums in 2022
- Inflation impacted Dutch insurance premiums by 6.1% average increase in 2022
- Total reinsurance ceded by Dutch insurers was €12.3 billion in 2022
- Gross written life premiums in Netherlands were €25.6 billion in 2022 excluding pensions
- The Netherlands ranked 10th in Europe for insurance premiums as % of GDP in 2022
- Insurance employment in Netherlands totaled 68,000 full-time equivalents in 2022
- Average premium growth across all lines was 5.2% in Dutch market 2022
- Total solvency capital requirement coverage ratio averaged 180% for Dutch insurers in 2022
Market Overview Interpretation
While the Dutch are famously frugal, their €92.4 billion in premiums and €1.1 trillion in managed assets prove they’re pragmatically paranoid, wisely betting €5,200 per person that life will, indeed, throw them a curveball.
Non-Life Insurance Statistics
- Property insurance premiums in Netherlands non-life sector were €12.4 billion in 2022
- Motor insurance dominated non-life with €8.7 billion premiums in Netherlands 2022
- Fire and property claims payouts totaled €4.2 billion in Dutch non-life 2022
- Liability insurance premiums reached €3.9 billion in Netherlands 2022
- Number of motor insurance claims was 1.2 million in Netherlands 2022
- Average motor premium increased 7.5% to €650 per policy in Netherlands 2022
- Home contents insurance policies numbered 7.8 million in Netherlands 2022
- Travel insurance premiums grew 11% to €1.8 billion post-COVID in 2022 Netherlands
- Cyber insurance premiums surged 25% to €450 million in Dutch market 2022
- Non-life loss ratio averaged 68% in Netherlands insurers 2022
- Construction all-risk policies covered €120 billion projects value in 2022 Netherlands
- Pet insurance policies reached 2.1 million in Netherlands 2022
- Cargo insurance premiums were €1.2 billion for Dutch exporters 2022
- Weather-related claims cost non-life insurers €1.5 billion in Netherlands 2022
- Directors & Officers liability premiums €320 million in 2022 Netherlands
- Bicycle insurance claims numbered 850,000 with €250 million payouts 2022 Netherlands
- Commercial non-life premiums totaled €22.5 billion in Netherlands 2022
- Legal expenses insurance policies 5.6 million in Dutch households 2022
Non-Life Insurance Statistics Interpretation
The Dutch are clearly hedging their bets, with €8.7 billion spent insuring their cars against €850,000 bicycle mishaps, while simultaneously paying for 5.6 million legal policies to argue about the resulting fender-benders.
Regulatory and Solvency Statistics
- Dutch insurers complied with Solvency II at 98.5% rate in 2022
- Minimum Capital Requirement coverage was 250% average for Netherlands insurers 2022
- EIOPA stress test pass rate for Dutch insurers was 100% in 2022 exercise
- Supervisory Review and Evaluation Process interventions on 12 Dutch firms in 2022
- Own Risk and Solvency Assessment submissions from all 143 Dutch insurers 2022
- Product Intervention Powers used 3 times by DNB on insurance products 2022
- Consumer protection complaints resolved: 85,000 by Dutch insurers 2022
- Fit and Proper requirements met by 99.2% of key function holders 2022 Netherlands
- Public disclosure compliance rate 100% for Dutch listed insurers 2022
- Recovery plan approvals for 5 Dutch insurers post-stress in 2022
- Insurance Distribution Directive compliance audits on 45 firms 2022 Netherlands
- Climate risk disclosures mandated for 120 Dutch insurers starting 2022
- Anti-Money Laundering fines totaling €2.5 million on insurers 2022 Netherlands
- Pension fund transfer oversight on €15 billion assets to insurers 2022
- Cyber resilience requirements imposed on 30 large Dutch insurers 2022
- ESG integration in solvency calculations piloted for 20 firms 2022 Netherlands
- Market Conduct Supervision fines €1.8 million issued 2022 Dutch insurance
- Solvency II Pillar 3 reports downloaded 50,000 times from DNB site 2022
- Insurance guarantee scheme funded €450 million reserves in 2022 Netherlands
- DNB's insurance supervision budget €45 million in 2022
- Cross-border business notifications from 25 Dutch insurers 2022
Regulatory and Solvency Statistics Interpretation
While the Dutch insurance sector in 2022 generally built a robust regulatory fortress, the €4.3 million in fines and interventions on a dozen firms serve as a witty reminder that even in a well-run garden, a few weeds still need pulling.
Sources & References
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