According to the European insurance and reinsurance federation, or the CEA (Comité Européen des Assurances) Europe is in first place in the global insurance market.
The European Insurance Committee has delivered its latest figures. The 5,000 European insurance companies, which employ about 950,000 people, are leaders. Europe leads the world market place, with EUR1,107 billion of contributions in 2010, 61% for life insurance, 29% for damage and 10% for health.
Contributions grew at an annual rate of 3% over the past decade. In total, European contributions represent 37% of global premiums, ahead of North America (30%) and Asia (27%).
According to the charts, the United Kingdom (209Mds), followed by France (206Mds) and Germany (178Mds) are the top three European countries in the market. Regarding life insurance, European insurers have paid 560Mds euros of capital or annuities to their policyholders. Non-life compensation totaled 290Mds euros for 2010, mainly in auto and health.
Investments by European insurers represent over 7300Mds euros in 2010, 54% of GDP in the EU.
