European Insurance in Figures

CEA Statistics N42 European Insurance in Figures November 2010
CEA Statistics European Insurance in Figures

www.cea.eu
About the CEA

The CEA is the European insurance and reinsurance federation. Through its 33 member bodies the national insurance associations the CEA represents all types of insurance and reinsurance undertakings, eg panEuropean companies, monoliners, mutuals and SMEs. The CEA represents undertakings that account for around 95% of total European premium income. Insurance makes a major contribution to Europes economic growth and development. European insurers generate premium income of over 1 050bn, employ one million people and invest more than 6 800bn in the economy.
European Insurance in Figures
Contents
CEA member associations Methodological note and abbreviations Executive summary I. Premiums I.1 Life insurance premiums I.2 Non-life insurance premiums I.2.1 Motor I.2.2 Health I.2.3 Property I.2.4 Other non-life business lines II. Insurance density and penetration II.1 Insurance density II.1.1 Overall density II.1.2 Life density II.1.3 Property, casualty and accident density II.1.4 Health density II.2 Insurance penetration III. Insurers investment portfolio III.1 Structure of the portfolio III.2 Ratio of investment portfolio to GDP IV. Market operators IV.1 Companies IV.2 Employees IV.3 Distribution channels IV.3.1 Life insurance IV.3.2 Non-life insurance 6 7 8 10 11 13 15 16 17 17 19 19 19 20 20 21 22 25 26 27 29 29 29 30 30 31
4 | CEA Statistics
N42
Annex I. Statistical tables Part A: Insurance market data Table 1 | Total European gross written premiums 20012009 (m) Table 2 | Worldwide premiums 20002009 ($bn) Table 3 | Life gross written premiums 20012009 (m) Table 4 | Non-life gross written premiums 20012009 (m) Table 5 | Motor gross written premiums 20012009 (m) Table 6 | Health gross written premiums 20012009 (m) Table 7 | Property gross written premiums 20012009 (m) Table 8 | Other non-life gross written premiums 20012009 (m) Table 9 | Total insurers investment portfolio 20012009 (m) Table 10 | Life insurers investment portfolio 20012009 (m) Table 11 | Non-life insurers investment portfolio 20012009 (m) Table 12 | Structure of insurers investment portfolio 20002008 (bn) Table 13 | Number of insurance companies 20002009 Table 14 | Number of employees 20002009 Table 15 | Breakdown of life insurance premiums by distribution channel 2008 Table 16 | Breakdown of non-life insurance premiums by distribution channel 2007 Part B: Macroeconomic data Table 17 | Euro exchange rates 20002009 Table 18 | GDP at current market prices 20002009 (m) Table 19 | Population 20002009 (thousands) Annex II. Distribution channel classification
34 34 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 48 49 49 50 51 52
Authors note As in 2008, the weakness of the pound sterling against the euro continued in 2009. To better reflect economic reality, 2008/09 growth rates shown in the text have therefore been calculated on the basis of constant exchange rates, as they were in last years publication.
CEA Statistics
N42 | 5
CEA member associations

Austria (AT) Versicherungsverband sterreich (VVO) Belgium (BE) Assuralia Bulgaria (BG) Association of Bulgarian Insurers (ABZ) Croatia (HR) Hrvatski ured za osiguranje Cyprus (CY) Insurance Association of Cyprus Czech Republic (CZ) esk asociace pojitoven (AP) Denmark (DK) Forsikring & Pension (F&P) Estonia (EE) Eesti Kindlustusseltside Liit Finland (FI) Finanssialan Keskusliitto France (FR) Fdration Franaise des Socits dAssurances (FFSA) Germany (DE) Gesamtverband der Deutschen Versicherungswirtschaft (GDV) Greece (GR) Hellenic Association of Insurance Companies Hungary (HU) Magyar Biztostk Szvetsge (MABISZ) Iceland (IS) Samtk Fjrmlafyrirtkja (SFF) Ireland (IE) Irish Insurance Federation (IIF) Italy (IT) Associazione Nazionale fra le Imprese Assicuratrici (Ania) Latvia (LV) Latvijas Apdrointju asocicija (LAA) Liechtenstein (LI) Liechtensteinischer Versicherungsverband Lithuania (LT) Lietuvos draudik asociacija Luxembourg (LU) Association des Compagnies dAssurances (ACA) Malta (MT) Malta Insurance Association Netherlands (NL) Verbond van Verzekeraars Norway (NO) Finansnringens Fellesorganisasjon (FNO) Poland (PL) Polska Izba Ubezpiecze (PIU) Portugal (PT) Associao Portuguesa de Seguradores (APS) Romania (RO) Uniunea Naional a Societilor de Asigurare i Reasigurare (Unsar) Slovakia (SK) Slovensk asocicia poistovn Slovenia (SI) Slovensko Zavarovalno Zdruenje (SZZ) Spain (ES) Unin Espaola de Entidades Aseguradoras y Reaseguradoras (Unespa) Sweden (SE) Sveriges Frskringsfrbund Switzerland (CH) Schweizerischer Versicherungsverband (ASA/SVV) Turkey (TR) Trkiye Sigorta ve Reasrans irketleri Birlii United Kingdom (UK) The British Insurers European Committee: Association of British Insurers (ABI) International Underwriting Association of London (IUA) Lloyds
6 | CEA Statistics
N42
Methodological note
This report is based on annual data collected by the CEA from its member associations (see list on p6). Most 2009 figures are provisional. The figures are based on samples that represent more than 90% of the market for most countries. The figures for Romania represent around 70% of the market. For Slovenia, all figures (excluding those referring to the number of companies) refer to association members only. For data on European insurance groups, the source is LArgus de lAssurance. For data on worldwide premiums, the source is Swiss Re. Macroeconomic data, ie, population, gross domestic product (GDP) and exchange rates, have been taken from Eurostat, the statistical office of the European Union, and from national statistical offices. The monetary unit used for the financial data is the euro. For the periods prior to the introduction of the euro, for which the Ecu is the reference currency, and for the countries that are not part of the euro area, the figures are converted into euro using the annual average exchange rate. Unless otherwise stated, premiums are gross written premiums (direct business) on home territory underwritten by companies with their head office in the corresponding country. Year-on-year changes have been calculated by subtracting from the total the data for those countries for which there is no information for the previous or subsequent year. The average growth over time represents the average of the past year-on-year changes. The changes are calculated in nominal terms, ie noninflation adjusted.
Abbreviations
bn EU m n.a. billion European Union million not available
GDP gross domestic product
CEA Statistics
N42 | 7
Executive summary
Gross written premiums
Provisional figures for 2009 indicate that the insurance European industry weathered the continuing economic crisis better than in 2008 in terms of premium growth. Total premiums grew 2.9% (at constant exchange rates) to 1 057bn, mainly driven by the life sector, which accounts for more than 60% of all premiums. A year earlier, in comparison, total premiums dropped by more than 6% at constant exchange rates. After a sharp decrease in 2008 due to the financial crisis, European life premiums are expected to reach 647bn in 2009, which corresponds, at constant exchange rates, to a 4.7% increase over the previous year. The clear trend among households to increase their savings in 2009 benefited the guaranteed-return products offered by life insurers in some countries. After an almost 3% increase at constant exchange rates in 2008, total European non-life premiums decreased moderately in 2009 to 409bn from 417bn a year earlier. This is the first time in the last decade that year-on-year growth at current exchange rates has been negative. This development in non-life insurance is to a large extent recession-related, with households and companies prepared to forego insurance or to reduce their cover to keep costs down. As the largest business line in non-life insurance, motor insurance has also been the most affected (-2% at constant exchange rates).
Insurance density and penetration1

On a per capita basis, an average of 1 791 was spent on insurance in the 33 European countries represented by the CEA in 2009. Of this amount, 1 097 was spent on life insurance and the remaining 694 on non-life insurance, of which 171 was on health. In total, this is 14 less than in 2008. Since the GDP in Europe, at current exchange rates, contracted more than overall insurance premiums (-5.4% against -0.6%), insurance penetration increased on average from 7.7% in 2008 to 8.1% in 2009. Life insurance penetration grew from 4.7% to 5.0% in 2009, whereas non-life penetration grew from 3.0% to 3.2%.
Insurers investment portfolio

Following the rebound in the capital markets that began in late March 2009, European insurers total investment portfolio is estimated to have recovered from 6 500bn in 2008 to more than 6 800bn in 2009. This corresponds to an increase of more than 8%, compared to a fall of 7.5% in 2008 at constant exchange rates.
8 | CEA Statistics
N42
1 Insurance penetration is a commonly recognised indicator of insurance activity. It is expressed here by showing total gross written premiums as a percentage of GDP
The changes in the total investment portfolio have been mainly driven by life business, since the investment holdings of the life insurance industry account for more than 80% of the total. In 2008 the proportion of shares and variable yield products in insurers total investment portfolio shrank from 34% to 26% due to the financial crisis. This fall resulted in a large increase in the proportion of debt securities held; a jump from 34% to a record 40%. Loans still constitute the third largest type of investment (17% in 2008).
Market operators
Companies and employees The number of insurance companies has been declining steadily over the last decade, after a wave of mergers and acquisitions at the end of the 1990s following market liberalisation and deregulation in the EU. In 2008 the number of companies carrying out insurance activities in the 33 CEA countries totalled a little over 5 100 against just over 5 200 in 2007, which corresponds to a 2.1% decrease. Provisional figures for 2009 indicate a further, as yet unquantified, decrease. After five successive years of decline, caused mainly by consolidation, the number of people employed in the European insurance industry recovered in 2007 and 2008 by 0.7% and 0.6% respectively, taking the total number of employees to over one million. The 2009 trend points towards a slight decline. The share of full-time workers is continuing its slow decrease of the last 10 years (87% in 2008 against 89% in 1999). Distribution channels Bancassurance is the main distribution channel for life insurance products in many European countries, with a market share ranging from 44% in Poland where the bancassurance market share nearly doubled between 2007 and 2008 to 82% in Portugal. With the exception of Poland and Malta, 2008 has been generally marked by a slight decline in the market share of bancassurance. Agents outnumber brokers in the distribution of life insurance products in most countries. Agents are particularly widespread in Germany, Slovenia, Croatia and, to a lesser extent, Bulgaria. Brokers lead the life insurance distribution market in the UK (69%) and Ireland (45%) and are also popular in Belgium. With a market share of 62% and 47.5% respectively, direct writing dominates in Slovakia and Ireland. Direct writing is also common in Croatia, Bulgaria, the Netherlands, Poland and Austria. Traditional intermediaries continue to be the largest suppliers of non-life insurance products in most countries surveyed. General agents continue to be the largest suppliers of non-life insurance products. Agents are well established in Italy, Turkey, Slovenia and Portugal. Although agents are prevalent in most European countries, brokers play a significant role in Belgium, Ireland and the UK. Direct sales appear to be more common in non-life insurance than in life insurance. In 2008, they accounted for more than two thirds of total sales of non-life insurance products in Croatia and in Slovakia. Direct writing is also popular in the Netherlands, Lithuania, Ireland, Austria and France. The sale of non-life insurance products through bancassurance is not particularly widespread in Europe.
CEA Statistics N42 | 9
I. Premiums
Total premiums grew 2.9%, driven by the life sector
Provisional figures for 2009 indicate that the European insurance industry weathered the continuing economic crisis better than in 2008 in terms of premium growth. Total premiums grew 2.9%, driven by the life sector, which accounts for more than 60% of all premiums. A year earlier, in comparison, total premiums dropped by more than 6% at constant exchange rates. Chart 1 | Total European premiums 20012009 (bn)
bn 1 200 1 050 900 750 600 450 300 150 0 2001 2002 2003 2004 2005 2006 2007 2008 2009
With 30% of non-life premiums, motor insurance is the largest European non-life business line, followed by health (excluding accident) and property, with market shares of 25% and 20% respectively. This breakdown was broadly the same as the previous year, although health insurance was the only non-life business line that saw a slight increase in market share. The remaining 25% of premiums were divided between general liability (8%), accident (7%), marine, aviation and transport (MAT) (4%), legal expenses (2%) and other non-life insurance business Othe lines, including travel and credit insurance. r Chart 2 | Breakdown of total European premiums 2009
t per y Oth er
Life
Mo
tor
Pro H th eal
10% 11% 8%
Life 61%
Non-life 39%
10%
Motor Health Property Other
10 | CEA Statistics
N42
The financial crisis has affected global insurance activity. According to Swiss Re, worldwide premiums amounted to $4 066bn (2 915bn) in 20092, a 3.6% nominal decrease compared with 2.3% growth in 2008 and 11.2% growth in 2007. This is only the second time in the last decade that worldwide premiums have decreased in nominal terms. The first decline, observed in 2001 after the burst of the dotcom bubble, was only 1.2%. Looking at individual regions, it appears that premiums decreased everywhere except Asia in 2009 (see Chart 3). Between 2002 and 2007 the European share of the global market rose from 32% to 43% as premiums in Europe grew faster than total worldwide premium income. However, with the decline of European premiums in 2008 and 2009, Europes market share decreased to 40%. The US also saw its share of global premiums continue its downward trend, while Asias premium share increased. Chart 3 | Worldwide premiums 20002009 ($bn)
$bn 4500 4000 3500 3000 2500 2000 1500 1000 500 0 2000 Europe Asia North America Rest of the world
2001
2002
2003
2004
2005
2006
2007
2008
2009
Source: Swiss Re Sigma
Europe
Asia
North America
Rest of the world
Note: Europe covers western, central and eastern Europe and therefore includes Russia and Ukraine (which together account for less than 1% of global premiums)
I.1 Life insurance premiums

After a sharp decrease in 2008 as a result of the financial crisis, European life premiums are expected to recover to 647bn in 2009, which corresponds, at constant exchange rates, to a 4.7% increase on the previous year. The largest markets are the UK, France, Germany and Italy, which together account for nearly 75% of European life premiums.
Life insurance recovered in 2009 (+4.7%)
2 See Swiss Re, Sigma No.2/2010: World insurance in 2009
CEA Statistics
N42 | 11
Chart 4 | European life insurance premiums 20012009 (bn)

bn 800 700 600 500 400 300 200 100 0 2001 2002 2003 2004 2005 2006 2007 2008 2009
Despite overall growth being positive in 2009, individual country growth rates ranged from -48% for Romania and -22% in Poland to +49% for Italy and +51% for Liechtenstein, which had been seriously hit by the economic crisis in 2008. Nevertheless, the disparity in growth rates was less marked in 2009 than in 2008 (see Chart 5). Among the four largest markets, only the UK witnessed a decrease (-10%) in life premiums. This drop is the result of the continued decline in new business, particularly in the first three quarters, due to the recession. Conversely, France, Germany and Italy showed significant improvements in life business (+13%, +7% and +49% respectively), mainly driven by a rise in single premium new business. The clear trend among households to increase their savings in 2009 benefited the guaranteed-return products offered by life insurers in some countries. The 48% drop in life premiums in Romania was mainly due to the recession. In Poland, the 22% fall in life premiums in 2009 was the result of a combination of two factors; the huge increase in life premiums in 2008 compared to previous years and a decrease in life policies with a substantial investment element in 2009. These products had been extremely popular in Poland, as there was no tax on investment income and the expectations of a good investment return were high. This changed in late 2008 as a result of the financial crisis. Additionally, insurance companies had to compete with banks, which started to offer attractive investment products. In western Europe, the Netherlands and Portugal recorded declines of 8% and 5% respectively in life premiums in 2009. In the Netherlands, the decrease was mainly caused by a reduction in the number of individual life policies, due largely to the overall economic situation, damage to the reputation of unit-linked products and competition from banks. In Portugal, the decline in life business in 2009 must be seen in the context of the wider savings market, where noninsurance products were at a competitive advantage as a result of the recovery in the capital markets.
12 | CEA Statistics N42
Chart 5 | Nominal growth in European life premiums by country 2007/08 and 2008/09 (at constant exchange rates)
35%
51% 49% 117% 53%
25%
15%
5% 0% -5%
-15%
-25%
-48%
-35%
LI IT TR FR SE CZ IS DE MT EE CEA ES CY LV LU FI AT GR SK CH SI HR DK NO PT BE NL UK IE HU LT BG PL RO
IS DE M T EE CE A ES CY
SI HR DK NO
LV LU FI AT G R SK CH
LI IT TR FR SE CZ
2007/08
2008/09
I.2 Non-life insurance premiums

Provisional figures show that after a 2.7% increase in 2008, at constant exchange rates, total European non-life premiums remained largely stable (-1.9%) in 2009, amounting to 409bn. It is the first time after a decade of year-on-year growth at current exchange rates that the growth is negative. This predictable development is to a large extent recession-related, with households and companies prepared to forego insurance or to reduce their cover to keep costs down. Chart 6 | European non-life insurance premiums 20012009 (bn)
bn 450 400 350 300 250 200 150 100 50 0 2001 2002 2003 2004 2005 2006 2007 2008 2009
IE HU LT BG PL RO
PT BE NL UK
Non-life business weakened slightly in 2009
Note: The sharp growth in 2006 is mainly due to the privatisation of the healthcare system in the Netherlands
CEA Statistics
N42 | 13
The largest non-life insurance markets are Germany, the UK, France and the Netherlands
The top four non-life insurance markets in Europe are, in order of size, Germany, the UK, France and the Netherlands, which together account for more than 60% of European non-life premiums3. As Table 1 shows, motor and health insurance are the two largest non-life business lines in Europe, with respective market shares of 30% and 25% (see analysis by product line below). Table 1 | Non-life insurance premiums by product 20072009
Gross written premiums (bn) Total non-life Motor Health Property Other non-life 2007 416 130 93 80 113 2008 417 127 98 82 111 2009 409 121 101 80 107 Nominal growth (at current exchange rates) 2007/08 0.3% -2.4% 5.5% 1.5% -1.8% 2008/09 -1.9% -4.2% 2.8% -1.9% -3.5% Nominal growth (at constant exchange rates) 2007/08 2.7% -0.4% 6.4% 4.9% 1.6% 2008/09 0.3% -1.7% 3.3% 0.9% -0.8%
With the exception of Liechtenstein, where non-life premiums grew 42% in 2009, and Lithuania and Latvia, where declines in excess of 30% were reported, the range of 2008/09 growth rates in individual markets (see Chart 7) was less disparate than the previous year, varying from -16% in Sweden to +8% in both Greece and Cyprus. Unsurprisingly, most countries have experienced a deterioration in their growth rates, be they positive or negative. In the UK, growth decreased from 0% to -1.5%, while in France it declined from 3.7% to 1.6%. Of the other major non-life markets, Germanys premiums remained stable in 2009, while in the Netherlands the situation improved slightly, mainly due to the health insurance market (see Section 1.2.2). Chart 7 | Nominal growth in non-life premiums by country 2007/08 and 2008/09 (at constant exchange rates)
40% 30% 20% 10% 0% -10% -20% -30% -40% LI CY GR IS NO SI NL PL TR FI MT AT CZ FR DE BE LU CHCEASK UK IT ES HR HU DK PT EE BG RO IE SE LT LV
SI NL PL TR FI M T AT CZ FR DE IT ES HR HU DK PT EE BG RO BE LU CH CE A SK UK LI CY G R IS NO IE SE LT LV
42%
2007/08
2008/09
Notes: The substantial increase in Switzerland in 2008 is due to the fact that prior to 2008 health insurance premiums were not included in non-life premiums For Malta, the drop in 2008 is due to the fact that prior to 2008 cross-border business was included 3 The market shares of Germany, the UK, France and the Netherlands are respectively 20%, 15%, 15% and 12%
14 | CEA Statistics
N42
As mentioned earlier, the Swedish non-life market decreased at constant exchange rates by 16% in 2009. This quite remarkable development is mainly due to the fact that one health insurer reduced its premiums to 0 for 20094. Among eastern European countries, Poland saw its growth rate decrease from 11% in 2008 to 4% in 2009. This significant slowdown was mainly as a result of motor and health insurance. Sharp drops in Latvia and Lithuania were due to similar decreases in all non-life business lines. In Romania, a substantial increase in 2008 was followed by a negative growth rate in 2009. Property insurance was most affected, due to the downturn in the construction industry. I.2.1 Motor Motor insurance is the largest European non-life business line, accounting for almost 30% of total non-life premiums. In 2009, European motor insurers generated an estimated total premium income of 121bn, compared to 127bn in 2008 and 130bn in 2007. 2009 was thus the second consecutive year in the last decade in which there was an overall nominal decrease at current exchange rates, albeit a smaller one than the year before. At constant exchange rates, this corresponds to a decline of 1.7%. This trend reflects both the competitiveness of the market and the impact of the economic slowdown. According to the European Automobile Manufacturers Association, new motor vehicle registrations decreased by 6% in 2009, after an 8% decline in 2008 and growth of 2% in 2007. Chart 8 | European motor insurance premiums 20012009 (m)
m 140 000
120 000
100 000
80 000
60 000
40 000
20 000
0 2001 2002 2003 2004 2005 2006 2007 2008 2009
The motor insurance market is dominated by Italy, Germany, France and the UK, which together account for around 60% of all European motor premiums. These countries all reported a decrease in 2009, which is largely explained by the continuing decline in new business. The expected growth rates in 2009 are -3.3% in Italy, -1.3% in Germany, -1.0% in the UK and -0.2% in France. Among western European countries, the biggest decrease was reported in Portugal (-8%), while Spain the fifth largest market recorded a nearly 6% decline in premiums in 2009. In Poland, the largest market in eastern and central
4 This has reduced the market size by SEK 11.5bn (1.1bn)
CEA Statistics
N42 | 15
Europe, motor premiums decreased by 1.6% in 2009 after a nearly 10% rise in 2008. This decline is due to a decrease in the number of cars sold and the very strong competition in the market. I.2.2 Health
Health premiums continued to grow in 2009, albeit at a slower pace
Health insurance is the second largest non-life-business line, accounting for 25% of European non-life premiums. This sector is led by the Dutch and German markets, which together account for about two thirds of European health premiums. Preliminary figures for 2009 indicate that, although the growth in health insurance premiums has declined from 6.4% in 2007/08 to 3.3% in 2008/09, overall premiums are still rising, reaching 101bn in 2009, compared to 98bn in 2008 and 93bn in 2007. Interestingly, health insurance was the only business line in the non-life sector in which total premiums grew in 2009, confirming that health continues to be one of the most dynamic non-life business lines, mainly because of rising demand due to ageing populations and increasing medical costs. Chart 9 | European health insurance premiums 20012009 (m)
m 110 000 100 000 90 000 80 000 70 000 60 000 50 000 40 000 30 000 20 000 10 000 0 2001 2002 2003 2004 2005 2006 2007 2008 2009
Note: The sharp growth in 2006 is mainly due to the privatisation of the healthcare system in the Netherlands
The Netherlands, which has become the largest health insurance market in Europe following the introduction of a new health regime in 2006, reported a 6% growth in premiums in 2009. In Germany and in France the third largest market with a 9% market share growth rates are expected of +4% and +7% respectively, including a notable rising in demand for long-term care insurance. In Sweden, as previously mentioned, one health insurer reduced its premiums to 0 for 2009 and, as a result, premiums fell by more than 60%. However, as Sweden only accounts for 2% of the European market, the impact on overall European premium income is minor.
16 | CEA Statistics
N42
I.2.3 Property Property insurance accounts for almost 20% of all European non-life business. As in the motor market, competition is fairly strong and business was affected by the recession in 2009, which saw premiums decline for the first time in a decade at current exchange rates (-1.9%). In 2009 property premiums remained largely stable (+0.9% at constant exchange rates) at around 80bn. The leading market in European property insurance, in terms of market share of premiums, is the UK (19.5%), followed closely by Germany (18%) and France (17%). Spain ranks fourth, with an almost 10% share of the European market. The relative stability in property premiums is the result of small increases in most European countries in 2009, albeit offset by a 4% drop in the UK. This fall seems to be mainly in household premiums and due to the recession. It appears that buildings insurance rates rose throughout 2009. Therefore, it is likely that policyholders chose to reduce their cover to cut costs. Chart 10 | European property insurance premiums 20012009 (m)
m 90 000 80 000 70 000 60 000 50 000 40 000 30 000 20 000 10 000 0 2001 2002 2003 2004 2005 2006 2007 2008 2009
Property insurance premiums remained largely stable in 2009
It is expected that prices will rise in 2010 following the bad weather conditions experienced in Europe in 2009, particularly the January storm Klaus that caused widespread property damage across France and northern Spain. I.2.4 Other non-life business lines The other non-life business lines include general liability, accident, marine, aviation and transport (MAT), legal expenses, credit and travel insurance5. As Chart 11 indicates, general liability premiums accounted for around 8% of total non-life premiums in 2008, closely followed by accident insurance (7%). MAT and legal expenses accounted for respectively only 4% and 2% of non-life business.
5 The CEA does not collect data on credit and travel insurance
CEA Statistics
N42 | 17

He alth
t
n ide tor ityc ilAc Mo liab 2008 Chart 11 | Breakdown of other European non-life insurance premiums al ner Ge er Oth r t e es h y nsO ert xpe rop al e P Leg 19% AT M 4% 2%
24% 27%
7%
6%
30%
8%
Motor Health Property Other
General liability Accident MAT
Legal expenses Other
Chart 12 suggests that these other non-life business lines have been affected by the crisis, as premiums in these lines decreased from 111bn in 2008 to 107bn in 2009, ie a decline of 0.8% at constant exchange rates. Chart 12 | Other European non-life insurance premiums 20012009 (m)
m 120 000
100 000
80 000
60 000
40 000
20 000
0 2001 2002 2003 2004 2005 2006 2007 2008 2009
The 2009 breakdown by business line is not yet available. However, early estimates indicate that after three consecutive years of relative stability, European general liability premiums decreased at constant exchange rates by around 2% (-5% at current exchange rates). This decline is most likely recession related. Other non-life insurance classes, such as credit insurance and to a lesser extent MAT, have most probably also been negatively affected by the bad economic conditions.
18 | CEA Statistics
N42
II. Insurance density and penetration

II.1 Insurance density
II.1.1 Overall density On a per capita basis, an average of 1 791 was spent on insurance in the 33 European countries represented by the CEA in 2009 (see Chart 13). Of this amount, 1 097 was spent on life insurance and the remaining 694 on non-life insurance. This is 14 less than the total in 2008 (1 805), although at constant exchange rates it would have been 41 more. Chart 13 | Total European premiums per capita 2008 and 2009 ()
5 000 4 500 4 000 3 500 3 000 2 500 2 000 1 500 1 000 500 0
>100 000
In 2009, an average of 1 791 per capita was spent on insurance
IT AT CE A PT ES SI CY
IS M T CZ
FI IE BE SE NO
G R SK PL HU
LI NL CH
LU DK UK
LI NL CH LU DK UK FR FI IE BE SE NO DE IT ATCEA PT ES SI CY IS MT CZ GR SK PL HU HR EE LV LT BG RO TR
2008
2009
Notes: Calculated at constant exchange rates Liechtenstein includes cross-border business
There is a wide variation in insurance density across Europe, ranging from 79 in Turkey to 4 632 in the Netherlands6. The high density observed in the Netherlands is largely due to the non-life market, particularly health insurance. Insurance density is very high in the large financial centres, where it is largely driven by life insurance products (see Chart 14). Conversely, in the emerging central and eastern markets, more is spent on non-life products. The highest insurance density among those countries in 2009 was in Slovenia, as in 2008, with a level of 1 023 per capita. Looking at year on year changes, Italy experienced the most noticeable shift, with total insurance density increasing from 1 538 in 2008 to 1 962 in 2009 (+28%). This increase was driven by life insurance.
6 Excluding Liechtenstein
EE LV LT BG RO
HR
DE
TR
FR
CEA Statistics
N42 | 19
II.1.2 Life density As previously stated, provisional figures indicate that European policyholders spent 1 097 on average on life insurance products in 2009. At constant exchange rates, this corresponds to 44 more than in 2008. There were significant differences between countries, ranging from 2 517 in Denmark down to 11 in Romania7. Chart 14 | European life premiums per capita 2008 and 2009 ()
3 000 2 700 2 400 2 100 1 800 1 500 1 200 900 600 300 0
NL IT CE A DE IE SE BE NO
>100 000
LI DK CH LU UK FI FR IE SE BE NO NL IT CEADE PT AT ES MT CY SI SK CZ GR PL HU EE HR IS LT BG LV TR RO
2008
Generally, life insurance density is very high in the large financial centres as well as in the Scandinavian countries. Interestingly, in 2009 both Denmark and Switzerland overtook the UK in terms of life insurance density. As density broadly follows the same pattern as premium income, the rather significant rises reported in 2009 in Italy and France were to be expected. Following the substantial increase reported in Italy, life insurance density there is now higher than in Germany. II.1.3 Property, casualty and accident density The property and casualty (P&C) insurance market includes motor, property and general liability insurance. In 2009 Europeans spent an average of 523 on P&C and accident insurance products, against 5298 in 2008. P&C and accident insurance is the only insurance business line in which density is expected to decrease in 2009. It is also the market in which density varies the least. Excluding Liechtenstein, insurance density for this business line ranges from 58 in Turkey to more than 1 200 in Luxembourg and Switzerland.
20 | CEA Statistics
N42
7 Excluding Liechtenstein 8 At constant exchange rates
PT AT ES M T CY SI SK CZ
LI DK CH
2009
R PL HU
LU UK FI FR
LV TR RO
EE HR IS LT BG
Chart 15 | European property & casualty and accident premiums per capita 2008 and 2009 ()
1 400 1 260 1 120 980 840 700 560 420 280 140 0
ca. 10 000 ca. 7 000
PT CZ G R M T HR SK EE LV HU
NL AT BE UK FR IE IS DE
LI LU CH DK NO
LI LU CH DK NO NL AT BE UK FR IE IS DE ES IT FI CEA SE SI CY PT CZ GR MT HR SK EE LV HU LT PL BG RO TR
2008
CE
II.1.4 Health density Not surprisingly, given the heterogeneity of European health insurance markets, health insurance density varies widely, ranging in 2009 from 9 in Turkey to more than 2 000 in the Netherlands. On average, the amount spent on health insurance was 171 in 2009, compared to 167 in 2008. As already explained, the very high level of insurance density reported in the Netherlands stems from the new private health regime introduced in 2006. The Netherlands is followed by Switzerland and Germany, where density is estimated to reach respectively 749 and 383. Chart 16 | European health premiums per capita 2008 and 2009 ()
1 000 900 800 700 600 500 400 300 200 100 0
ca. 2 100
A SE SI CY
2009
HU
PL
LT PL BG RO
CE A
NL CH DE SI AT SE CEA FR ES BE CY UK LU PT
IT LV
FI MT HR TR LT CZ EE NO HU PL GR
LT CZ
EE NO
LV
FI
NL CH DE
CY UK
T HR
SI AT SE
ES BE
LU
TR
PT
FR
IT
2008
2009
Note: Calculated at constant exchange rates
TR
ES
IT FI
CEA Statistics
N42 | 21
When comparing 2008 and 2009, it is clear that changes in density to a large extent reflect the growth in health premiums. The most significant change was in Sweden, where density more than halved in 2009 (see Section I.2).
II.2 Insurance penetration

Average insurance penetration increased slightly from 7.7% in 2008 to 8.1% in 2009
Insurance penetration is a commonly recognised indicator of insurance activity. It is expressed here by showing total gross written premiums as a percentage of gross domestic product (GDP)9. Insurance penetration increased on average from 7.7% in 2008 to 8.1% in 2009 (see Chart 17), due to a larger drop in the GDP in Europe10 than the decrease in overall insurance premiums (-5.4% against -0.6%). Excluding Liechtenstein, this ratio indicator ranges from 1.3% in Turkey to 13.3% in the Netherlands. As explained earlier, the high level observed in the Netherlands stems from the non-life insurance market, specifically health insurance. The UK, which until 2008 was the market with the highest penetration, was overtaken by the Netherlands in 2009, with a ratio of 13.0%. There is quite a gap between these two countries and the rest of Europe, as the third highest penetration ratio for 2009 was France with 10.3%. Chart 17 | Ratio of total European premiums to GDP 20082009
20% 18% 16% 14% 12% 10% 8% 6% 4% 2% 0% LI NL UK FR CH FI PT DK BE CEA SE IT IE DE AT SI ES LU MT CY NO CZ PL HU SK HR EE IS BG GR LV LT RO TR
163% 108%
FR CH FI NL PT DK BE CE A
SE IT IE DE AT SI ES LU M T CY NO
2008
2009
Note: Liechtenstein includes cross-border business
A comparison of life and non-life business shows that life insurance penetration grew 0.3 percentage points to reach 5% in 2009 (see Chart 18), while non-life penetration increased from 3.0% to 3.2%.
22 | CEA Statistics
N42
9 This does not indicate the contribution of the insurance industry to the economy but instead allows comparisons between countries and over time 10 At current exchange rates
CZ PL HU
SK HR EE IS BG G R LV LT RO TR
LI NL UK
Chart 18 | Ratio of European life premiums to GDP 20082009

20% 18% 16% 14% 12% 10% 8% 6% 4% 2% 0%
153% 102%
CH IT CE A
NL DE M T LU ES NO
AT PL CY SI SK HU
LI UK FI FR PT DK
LI UK FI FR PT DK SE IE BE CH IT CEANL DE MT LU ES NO AT PL CY SI SK HU CZ EE GR HR LT BG IS RO TR LV
2008
2009
Life insurance penetration varies from 0.2% in Latvia to 9.6% in the UK and more than 150% in Liechtenstein. When comparing the ranking of overall penetration ratios with life penetration ratios, the most noticeable discrepancy is in the Netherlands, where the life penetration rate of 4.2% is below the CEA average. Another noticeable trend is that for both total insurance penetration and life insurance penetration, all eastern countries report ratios that are below the CEA average. Chart 19 | Ratio of European property & casualty and accident premiums to GDP 20082009
10% 9% 8% 7% 6% 5% 4% 3% 2% 1% 0%
IS ES CE A
2008
2009
PL M T NO SK EE RO
LI UK CH DK
FI LV SE HU
HR CY
PT BG IT CZ DE
LT G R TR
SI AT NL BE
IE LU
FR
LI UK CH DK FR SI AT NL BE IS ES CEA PT BG IT CZ DE HR CY IE LU FI LV SE HU PL MT NO SK EE RO LT GR TR
LT BG IS RO TR LV
CZ EE G R HR
SE IE BE
CEA Statistics
N42 | 23
As Chart 19 shows, property & casualty (P&C) and accident insurance have the most homogeneous penetration rate across Europe (excluding Liechtenstein). In 2009, P&C and accident penetration ranged from 1% in Turkey to 3.2% in the UK, with a CEA average of 2.5%. In 2008, the CEA average penetration rate was 2.3%. Notable among emerging eastern markets are Slovenias non-life insurance (P&C and health) penetration ratios, which are both above the CEA average (see Chart 19 and 20). In health insurance, average penetration in Europe increased from 0.7% in 2008 to 0.8% in 2009. Not surprisingly, health insurance penetration is highest in the Netherlands, at 6.4% in 2009 compared to 5.9% in 2008. The second highest penetration rate is in Switzerland at 1.6%. In addition to the Netherlands and Switzerland, only Germany and Slovenia have penetration rates that exceed the CEA average. Chart 20 | Ratio of European health premiums to GDP 20082009
7%
6%
5%
4%
3%
2%
1%
0%
DE SI CE A AT
IT FI M T HR
PL NO
NL CH
EE HU
NL CH DE SI CEA AT SE ES FR CY LV BE PT UK TR IT FI MT HR LU LT CZ EE HU PL NO RO GR BG DK
FR CY LV
2008
2009
Year on year, there were only three markets in which penetration decreased: Sweden, Latvia and Lithuania, which also reported significant decreases in health insurance premiums in 2009.
24 | CEA Statistics
N42
RO G R BG
PT UK TR
CZ
LU LT
BE
SE ES
III. Insurers investment portfolio

The financial crisis seriously affected the EU economy from the autumn of 2007 onwards. According to Eurostat figures, after growth of 0.7% in 2008, real gross domestic product (GDP) in the EU shrank by about 4% in 2009. As insurance companies are among the largest institutional investors, the fall in stock markets and the rise in spreads put insurers investment portfolios under pressure in 2008 (see Chart 21). European insurers total investment portfolio, estimated at market value, declined from over 7 200bn in 2007 to around 6 500bn in 2008. This was the first time in the last decade that the year-on-year growth rate was negative. The exceptional measures put in place under the European Economic Recovery Plan helped to restore confidence in the banking sector and to support demand, with capital markets recovering from mid-March 2009. As a result, the total investment portfolio of European insurers is expected to recover to more than 6 800bn in 2009. This corresponds to an increase of more than 8%, compared to a drop of 7.5% in 2008 at constant exchange rates. The bulk of the total investment portfolio is in the hands of life insurers; the life insurance industry accounts for more than 80% of the total. The largest markets for European insurance investors are the UK, France and Germany, accounting for 65% of the total portfolio. Chart 21 | European life and non-life insurers investment portfolio 20012009 (bn)
bn 8 000 7 000 6 000 5 000 4 000 3 000 2 000 1 000 0 2001 2002 2003 2004 2005 2006 2007 2008 2009
European investments should recover in 2009 to more than 6 800bn
Non-life insurers insurers Life
Life insurers investment portfolio Total insurers investment portfolio
Non-life insurers investment portfolio
Note: The life/non-life breakdown is not available for 2008 and 2009
CEA Statistics
N42 | 25
III.1 Structure of the portfolio11

Chart 22 shows that after the financial crisis that followed the 2000 dotcom bubble, the importance of shares and other variable assets in European insurers investment portfolios declined in favour of debt securities and other fixed income assets. However, from 2002 onwards, their share of the total investment portfolio12 grew steadily from 26.5% to reach 34%, becoming the largest component of European insurers investment portfolios once more. This trend was reversed again by the most recent financial turmoil and their market share shrank to 26% in 2008. Chart 22 suggests that changes in holdings of debt securities and shares are broadly symmetrical. When the market share of one increases it is at the expense of the other. The drop in the proportion of shares in 2008 resulted in a large increase in that of debt securities; from 33.9% to a record 39.9%. Loans constitute the third largest type of investment, ranging from a low of 15.6% of the portfolio to a high of 18% between 2000 and 2008 (16.9% in 2008). Of the three remaining categories of investment, land and buildings (4.1%) and investments in affiliated undertakings and participating interests (5%) also remained more or less stable, whereas deposits with credit institutions grew steadily from 0.9% in 2000 to 3.3% in 2008. Chart 22 | Structure of European insurers investment portfolio 20002008
45% 40% 35% 30% 25% 20% 15% 10% 5% 0 2000 2001 2002 2003 2004 2005 2006 2007 2008
Land and buildings Shares and other variable-yield securities and units in unit trusts Loans, including loans guaranteed by mortgages
Investments in affiliated undertakings and participating interests Debt securities and other fixed-income securities Deposits with credit institutions Other
26 | CEA Statistics
N42
11 The 2007 and 2008 aggregate figures are based on a sample of 26 and 28 countries respectively, representing 97% and 99% of all insurers investments 12 Estimated at market value
The fall in stock markets that followed the financial turmoil not only affected the value of assets in 2008, but also their allocation. As Chart 23 illustrates, investments in variable income assets largely depend on developments in stock markets. With the recovery of capital markets that began in 2008, the proportion of shares in insurers portfolios can be expected to increase. Chart 23 | Ratio of shares in European insurers total investment portfolio compared with the stock markets 20002009
50% % of shares in insurers investment portfolio 45% 40% 35% 30% 25% 20% 15% 10% 5% 0% 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 5 000 4 500 4 000 DJ Euro Stoxx 50 Index 3 500 3 000 2 500 2 000 1 500 1 000 500 0
Ratio of shares in insurers investment portfolio
DJ Euro Stoxx 50
Note: Dow Jones Euro Stoxx 50 is an index of eurozone stocks designed by Stoxx Ltd
III.2 Ratio of investment portfolio to GDP

Like insurance penetration (see section II.2), the ratio of insurers total investment portfolio to GDP provides another indicator of the relative importance of insurance to the economy, enabling comparison of the development of the insurance sector from country to country and from year to year. Due to a combination of the growth of European insurers investment portfolios and the economic recession in 2009, the ratio of the investment portfolio to GDP grew from 47.8% in 2008 to 53.2% in 2009. Nevertheless, it is still below the record levels seen in 2005, 2006 and 2007, when the ratio was 5455%.
The ratio of insurers investment portfolio to GDP grew to 53.2% in 2009
CEA Statistics
N42 | 27
Chart 24 | Ratio of European health premiums to GDP 20082009

110% 100% 90% 80% 70% 60% 50% 40% 30% 20% 10% 0%
151%
FI NL CE A DE
LU DK UK CH SE FR BE FI NL CEA DE MT IE NO PT IT AT ES SI CY PL HU CZ IS SK HR GR EE BG TR LV
SI CY PL HU
NO
IT AT ES
R EE BG
CH
LU DK UK
2008
2009
Note: Luxembourg includes cross-border business
As with insurance density and penetration, there are significant differences in this average ratio between countries. Early estimates for 2009 indicate that it ranges from 1.9% in Turkey to 101% in Denmark. Not surprisingly, large international financial centres such as Luxembourg, the UK and Switzerland, as well as markets with significant life insurance business, have high penetration rates. The emerging central and eastern European markets are at the other end of the scale because of their newer and less developed life markets.
28 | CEA Statistics
N42
IS SK HR
CZ
SE FR BE
TR
LV
T IE
PT
IV. Market operators

IV.1 Companies
The number of companies carrying out insurance activities in the 33 CEA countries has been declining steadily over the last decade, after a wave of mergers and acquisitions at the end of the 1990s following market liberalisation and deregulation in the EU. In 2008 the number of companies totalled a little over 5 100 compared to just over 5 200 in 2007, which corresponds to a 2.1% decline. Provisional figures for 2009 indicate a further, as yet unquantified, decrease. The UK is home to almost 20% of all Europes insurers (see Chart 25), with nearly 1 000 companies. It is followed by Germany with more than 600 insurance IE companies. Surprisingly, Sweden, which accounts for only 2% of premiums, IT ranks fourth in terms of the number of companies. In emerging eastern and ES central European markets the number of companies is growing slightly or NL remaining stable. Chart 25 | Percentage of insurance companies by country 2008
FR DE UK
Other 19% DE 12% UK 19%
NO CH BE DK
SE
NO 2% CH 3% BE 3% DK 4% IE 5% SE 7% IT 5% NL 6%
FR 9%
ES 6%
IV.2 Employees
After five successive years of decline, mainly due to consolidation, employment in the European insurance industry experienced two successive recoveries in 2007 and 2008. The labour force grew 0.7% and 0.6% respectively to exceed one million people13. The trend for 2009 points towards a slight decline, mainly driven by developments in the largest markets; a 4% decrease in the UK, 1.5% growth in France and little change in Germany.
In 2008, the European insurance industry directly employed just over 1 million people
13 This data reflects employees working in insurance companies and therefore does not take into account the additional roughly 1 million outsourced employees and independent intermediaries
CEA Statistics
N42 | 29
Germany is the European country with the largest number of people employed in insurance (more than 215 000 in 2008), followed by the UK (almost 179 000) and France (about 145 000). These countries are followed by the Netherlands, Switzerland, Spain and Italy, where between 47 000 and 51 000 people are employed. In 2007 the 0.7% increase was almost entirely due to Italy, where a new method of compiling data led to the inclusion of more than 4 550 employees of other businesses controlled by insurance companies as well as an additional 2 000 salespeople following a large corporate restructuring. In 2008 the 0.6% growth was the result of a mix of changes in the seven countries mentioned above14; in the UK and the Netherlands the labour force declined, but was offset by increases in the other countries. According to the data for 2008, nearly 87% of employees work full-time, although this proportion has been decreasing very slowly over the last 10 years (89% in 1999). Meanwhile, the insurers salesforce declined from 22% in 1999 to 20% in 200715.
IV.3 Distribution channels

The following survey shows the different channels through which European life and non-life insurance premiums are distributed, with the caveat that the distinction between different types of distribution channels is not always easy to identify16. Some intermediaries, for example, use other channels such as the internet or mail to distribute products. A cross-sectional analysis, ie who (intermediary, employee, bank employee) sells an insurance policy by what means (phone, face-to-face meeting, the internet, call centre, etc.), would overcome this but is currently difficult to carry out. The classification used in this analysis (see Annex II) has been designed to facilitate country comparisons and to take into account the availability of data. For some countries, certain categories have been merged due to a lack of detail. Such cases are indicated in footnotes. IV.3.1 Life insurance
Bancassurance is the main distribution channel for life insurance products
Banks introduced the bancassurance model in Europe in the 1980s. This broadening of their product offering brought the banks a new source of income and helped them to increase customer loyalty. As Chart 26 shows, bancassurance is the main distribution channel for life insurance products in many European countries, with a market share ranging from 44% in Poland to 82% in Portugal. Year on year, the most noticeable change was in Poland, where the bancassurance market share nearly doubled between 2007 and 2008, at the expense of agents. Nevertheless, with the exception of Poland and Malta, 2008 saw a slight decline in bancassurance. Notably among the western European markets, in the UK the largest European life insurance market bancassurance is estimated to account for just 1520% of new business.
30 | CEA Statistics
N42
14 Together, these seven countries employ almost 70% of the total European insurance labour force 15 Due to incomplete data for these two indicators, aggregate figures should be treated with caution 16 Survey data relates to 2008
Of the two traditional intermediaries brokers and agents agents account for the lions share of the distribution of life insurance products in most countries. Agents are particularly widespread in Germany (54.5%17), Slovenia (53%), Croatia (41%) and to a lesser extent Bulgaria (36%). In Bulgaria agents lost 20 percentage points (pp) between 2007 and 2008, to the benefit of both direct sales (+13 pp) and brokers (+6 pp). Brokers lead the life insurance market in the UK (69%18) and Ireland (45%) and are also popular in Belgium with a 33% market share. In the Netherlands, brokers and agents together account for 57% of life business. For brokers and agents the situation remained the same in all markets except the UK, where agents share grew 7 pp in 2008 and in Ireland where agents market share decreased from 10% to 7%, mostly to the benefit of brokers. Chart 26 | European life distribution channels 2008
100% 90% 80% 70% 60% 50% 40% 30% 20% 10% 0%
BG
Direct sales
Agents
Brokers
Bancassurance
Other
Notes: Data for Germany and the UK relates to new business For the UK, bancassurance is included in all other channels. For the Netherlands, brokers are included with agents Data for Spain and Lithuania is from 2007
With a market share of 62% and 47.5% respectively, direct writing prevails in Slovakia and Ireland. Direct writing is also relatively popular in Croatia (38%), Bulgaria (35%), the Netherlands (27%), Poland (23%) and Austria (20%). In Bulgaria there was a significant shift from agents to direct sales and to a lesser extent to brokers in 2008. As Chart 26 shows, this results in an almost even distribution between direct sales, agents and brokers. IV.3.2 Non-life insurance In contrast to the distribution of life insurance products, the distribution of non-life insurance products did not change significantly in 2008 compared to 2007, with the notable exception of Bulgaria. Traditional intermediaries, ie agents and brokers, continue to be the largest suppliers of non-life products in all countries apart from the Netherlands, Croatia and Slovakia, where direct writing is still predominant.
Non-life insurance products are mainly purchased through agents and brokers
17 New business 18 New business
UK
HR
AT
BE
BG
DE
ES
FR
HR
IE
IT
LT
MT
NL
PL
PT
SI
SK
TR
UK
LT
PL
SI
AT
DE
NL
SK
BE
TR
IT
ES
FR
PT
IE
CEA Statistics
N42 | 31
As in the life sector, agents generally play an important role in the distribution of non-life insurance products. Agents are well established in Italy (84%), Turkey (72%), Slovenia (68%) and Portugal (61%). Although agents are prevalent in most European countries, brokers play a significant role in Belgium, Ireland and the UK, where they account for 62%, 59% and 56% respectively of non-life premium volumes. The most noticeable change is reported in Bulgaria, where the market share of brokers increased from 32% in 2007 to 40% in 2008. This affected both direct sales, which lost 6 pp of market share, and agents (-2 pp). Direct writing, including employees and distance-selling, are generally more developed in non-life insurance than in life insurance, where products are much more complex. In 2008, direct sales accounted for at least two thirds of total sales of non-life insurance products in Croatia (69%) and in Slovakia (66%). Direct writing is also popular in the Netherlands (49%), Lithuania (44%19), Ireland (41%), Austria (38%) and France (35%). Apart from Bulgaria, there was little change between 2007 and 2008 in the sale of non-life products through direct writing. Chart 27 | European non-life distribution channels 2008
100% 90% 80% 70% 60% 50% 40% 30% 20% 10% 0%
BG
Direct sales
Agents
Brokers
Bancassurance
Other
Notes: For the Netherlands, brokers are included with agents Data for Spain and Lithuania is from 2007
Sales of non-life insurance products through bancassurance are not common in Europe, accounting for a maximum of 12% (in Turkey) of the total. Although there has been some growth between 2007 and 2008, bancassurance is still extremely rare in central and eastern markets, with a market share not exceeding 2%.
32 | CEA Statistics
N42
19 2007 data
UK
HR
AT
BE
BG
DE
ES
FR
HR
IE
IT
LT
NL
PL
PT
SI
SK
TR
UK
AT
DE
NL
SK
BE
TR
PL
ES
FR
PT
IE
IT
LT
SI
Annexes
Annex I
Annex I. Statistical tables

Part A: Insurance market data
Table 1 | Total European gross written premiums 20012009 (m)
AT BE BG CH CY CZ DE DK EE ES FI FR GR HR HU IE IS IT LI LT LU LV MT NL NO PL PT RO SE SI SK TR UK CEA * At constant exchange rates Notes: For DE, figures include Pensionskassen and pension funds For LI and NL, foreign business is included For MT, the drop in 2008 is because prior to 2008 cross-border business was included Austria Belgium Bulgaria Switzerland Cyprus Czech Republic Germany Denmark Estonia Spain Finland France Greece Croatia Hungary Ireland Iceland Italy Liechtenstein Lithuania Luxembourg Latvia Malta Netherlands Norway Poland Portugal Romania Sweden Slovenia Slovakia Turkey United Kingdom 2001 12 470 20 571 228 33 603 454 2 010 135 093 12 271 114 41 015 11 819 128 059 2 642 682 1 635 10 518 269 76 254 n.a. 133 783 175 163 42 335 7 872 6 095 7 989 n.a. 17 751 1 055 736 2 273 228 691 805 756 2002 12 615 22 304 319 36 151 485 2 548 141 008 13 426 139 48 061 12 247 131 998 2 895 753 2 036 11 208 294 87 708 n.a. 224 916 179 183 43 995 9 172 6 006 8 414 434 16 964 1 185 850 2 527 255 226 872 469 2003 13 128 25 774 342 33 907 527 2 837 147 729 15 038 168 40 630 12 641 142 028 3 235 801 2 206 11 884 294 96 993 n.a. 242 891 195 208 46 782 9 498 5 646 9 445 514 19 264 1 275 1 008 2 938 236 746 884 815 2004 13 974 28 417 428 32 816 550 3 332 152 166 15 890 203 45 418 13 191 158 226 3 624 884 2 380 11 998 281 101 038 1 490 269 964 197 237 48 816 10 381 6 091 10 472 614 19 096 1 457 1 198 3 725 246 212 2005 15 295 33 832 555 32 658 589 3 709 157 984 16 988 254 48 779 14 297 175 884 3 923 993 2 767 13 580 344 109 780 2 713 313 1 100 219 258 48 245 11 968 7 717 13 444 890 22 384 1 547 1 309 4 739 266 587 2006 15 589 29 489 643 31 352 637 4 099 161 945 18 702 284 52 836 14 942 197 092 4 371 1 118 3 142 16 150 350 106 502 4 311 425 1 138 291 286 73 386 11 945 9 631 13 123 1 276 23 079 1 726 1 439 5 340 294 269 2007 15 874 31 193 772 30 132 695 4 525 162 923 19 570 434 54 297 15 047 195 732 4 736 1 235 3 701 18 204 403 99 095 4 203 606 1 222 438 352 74 920 12 965 11 580 13 751 2 018 24 887 1 894 1 714 6 119 366 572 2008 16 214 29 279 915 33 666 742 5 274 164 523 20 811 372 60 086 15 800 183 194 4 789 1 341 3 542 13 431 280 92 019 3 769 590 1 899 476 275 76 559 12 705 16 830 15 329 2 443 24 706 2 019 2 031 6 179 247 022 2009 16 420 28 386 850 35 138 787 5 218 171 330 19 902 367 60 374 16 182 200 057 5 002 1 282 2 944 12 099 251 117 866 5 947 432 1 935 315 288 76 395 11 824 11 824 14 559 1 814 23 244 2 073 2 026 5 677 203 809 Nominal growth 2008/09* 1.3% -3.0% -7.1% -0.7% 6.0% 4.8% 4.1% -4.5% -1.3% 0.5% 2.4% 9.2% 4.4% -2.8% -7.4% -9.9% 7.6% 28.1% 50.1% -26.8% 1.9% -33.5% 4.9% -0.2% -1.2% -13.4% -5.0% -14.4% 3.9% 2.7% -0.2% 4.3% -7.7% 2.9%
936 034 1 015 646 1 100 908 1 181 806 1 059 113 1 056 618
34 | CEA Statistics
N42
Annex I
Table 2 | Worldwide premiums 20002009 ($bn)

2000 Europe Asia North America Other Total Source: Swiss Re Sigma 786 647 906 106 2 445 2001 767 595 949 104 2 416 2002 847 629 1 054 102 2 632 2003 1 036 685 1 117 120 2 958 2004 1 206 739 1 179 140 3 264 2005 1 335 765 1 188 158 3 446 2006 1 489 779 1 262 181 3 711 2007 1 763 812 1 339 212 4 126 2008 1 704 935 1 344 238 4 220 2009 1 611 989 1 239 227 4 066
CEA Statistics
N42 | 35
Annex I
Table 3 | Life gross written premiums 20012009 (m)

AT BE BG CH CY CZ DE DK EE ES FI FR GR HR HU IE IS IT LI LT LU LV MT NL NO PL PT RO SE SI SK TR UK CEA * At constant exchange rates Notes: For DK, the figures cover life insurance and multi-employer pension funds under Danish supervision. Company pension funds are not covered, but they only constitute some 3% of the market and do not write new contracts. Foreign business is included and is estimated not to be substantial for life insurance For LI and NL, foreign business is included Austria Belgium Bulgaria Switzerland Cyprus Czech Republic Germany Denmark Estonia Spain Finland France Greece Croatia Hungary Ireland Iceland Italy Liechtenstein Lithuania Luxembourg Latvia Malta Netherlands Norway Poland Portugal Romania Sweden Slovenia Slovakia Turkey United Kingdom 2001 5 831 13 170 45 21 944 251 478 62 565 8 132 23 22 864 9 367 84 635 1 292 124 682 7 168 21 46 329 n.a. 26 277 7 75 25 879 4 382 2 522 4 487 n.a. 13 112 225 321 418 166 844 503 496 2002 5 617 14 431 76 23 612 260 708 65 301 8 891 29 26 531 9 680 85 500 1 310 155 834 7 253 26 55 294 n.a. 40 398 7 84 24 052 5 209 2 569 4 562 111 11 749 268 367 466 186 570 541 961 2003 5 704 17 524 38 21 154 265 842 68 574 9 676 37 17 799 9 982 92 022 1 435 178 885 7 644 28 62 780 n.a. 62 343 8 104 25 338 5 332 2 538 5 402 122 12 503 305 410 608 166 375 536 020 2004 6 165 19 891 52 19 585 266 1 219 70 343 10 143 52 19 530 10 357 105 341 1 729 209 968 7 930 29 65 627 1 490 68 389 10 129 25 560 6 283 2 778 6 250 137 12 314 429 486 689 176 560 573 007 2005 7 124 25 177 77 19 229 274 1 318 75 244 11 007 81 21 004 11 251 120 668 1 935 256 1 218 9 739 33 73 471 2 596 84 490 16 142 25 085 7 561 3 809 9 136 235 15 059 465 571 741 193 979 639 076 2006 7 183 20 382 95 17 847 294 1 457 78 455 12 471 84 23 341 11 806 140 203 2 311 297 1 592 12 327 31 69 377 4 171 132 511 24 171 26 143 7 442 5 418 8 762 252 15 452 541 680 766 222 918 692 938 2007 7 206 21 658 128 17 477 323 1 688 78 967 13 617 180 23 241 11 918 137 080 2 244 338 2 024 14 594 34 61 439 4 030 228 549 37 228 26 367 8 371 6 743 9 369 448 17 508 609 853 745 295 249 765 492 2008 7 362 19 352 142 18 651 341 1 964 79 586 14 540 127 27 489 12 548 122 368 2 193 352 1 836 10 097 21 54 565 3 534 155 1 194 27 181 26 446 7 963 11 100 11 005 508 17 723 642 1 066 827 185 734 641 640 2009 7 416 18 328 115 19 243 353 2 044 85 250 13 870 133 28 538 12 853 138 278 2 202 339 1 466 9 000 19 81 120 5 596 136 1 224 28 193 24 277 7 140 6 996 10 427 229 17 963 630 1 062 835 149 850 647 153 Nominal growth 2008/09* 0.7% -5.3% -19.1% -1.9% 3.5% 10.3% 7.1% -4.7% 5.3% 3.8% 2.4% 13.0% 0.4% -2.3% -11.0% -10.9% 7.2% 48.7% 50.6% -12.3% 2.6% 2.6% 6.4% -8.2% -4.8% -22.3% -5.2% -48.1% 11.9% -1.9% -0.3% 14.7% -9.7% 4.7%
36 | CEA Statistics
N42
Annex I
Table 4 | Non-life gross written premiums 20012009 (m)

AT BE BG CH CY CZ DE DK EE ES FI FR GR HR HU IE IS IT LI LT LU LV MT NL NO PL PT RO SE SI SK TR UK CEA * At constant exchange rates Notes: For DL and NL, foreign business is included For MT, the drop in 2008 is because prior to 2008 cross-border business was included Austria Belgium Bulgaria Switzerland Cyprus Czech Republic Germany Denmark Estonia Spain Finland France Greece Croatia Hungary Ireland Iceland Italy Liechtenstein Lithuania Luxembourg Latvia Malta Netherlands Norway Poland Portugal Romania Sweden Slovenia Slovakia Turkey United Kingdom 2001 6 639 7 401 183 11 658 203 1 532 72 528 4 138 91 18 152 2 452 43 424 1 350 558 953 3 350 247 29 925 n.a. 107 505 168 88 16 456 3 490 3 574 3 502 n.a. 4 639 830 415 1 854 61 847 302 260 2002 6 998 7 873 243 12 539 225 1 840 75 707 4 535 110 21 530 2 567 46 498 1 585 597 1 202 3 955 268 32 414 n.a. 184 518 172 99 19 943 3 963 3 437 3 852 323 5 215 917 483 2 060 68 656 330 509 2003 7 424 8 250 303 12 753 262 1 994 79 155 5 362 131 22 832 2 659 50 006 1 800 623 1 321 4 240 266 34 213 n.a. 180 549 187 104 21 444 4 165 3 108 4 044 392 6 761 970 598 2 330 70 371 348 795 2004 7 809 8 526 376 13 232 284 2 113 81 823 5 747 151 25 888 2 834 52 885 1 895 675 1 412 4 068 251 35 411 n.a. 201 575 187 108 23 256 4 097 3 313 4 222 477 6 782 1 028 713 3 036 69 652 363 027 2005 8 171 8 655 478 13 428 316 2 391 82 740 5 980 173 27 775 3 046 55 216 1 988 737 1 550 3 841 311 36 309 116 229 610 204 116 23 160 4 407 3 908 4 308 655 7 326 1 082 738 3 998 72 607 376 570 2006 8 406 9 107 548 13 504 344 2 642 83 490 6 231 200 29 495 3 136 56 889 2 060 821 1 550 3 823 318 37 125 140 293 627 267 115 47 243 4 502 4 213 4 361 1 024 7 627 1 185 759 4 574 71 351 407 970 2007 8 668 9 535 644 12 655 372 2 837 83 956 5 952 254 31 056 3 129 58 652 2 492 897 1 678 3 610 369 37 656 173 377 673 401 124 48 551 4 594 4 837 4 382 1 570 7 378 1 285 861 5 374 71 323 416 312 2008 8 852 9 927 773 15 015 401 3 310 84 937 6 271 245 32 597 3 252 60 826 2 596 988 1 706 3 334 259 37 454 235 435 705 449 93 50 113 4 742 5 730 4 324 1 936 6 983 1 377 965 5 352 61 289 417 473 2009 9 004 10 058 735 15 895 434 3 174 86 080 6 032 233 31 836 3 329 61 779 2 800 943 1 477 3 099 232 36 746 351 296 711 287 95 52 118 4 684 4 827 4 132 1 585 5 281 1 443 965 4 842 53 960 409 465 Nominal growth 2008/09* 1.7% 1.3% -4.9% 0.7% 8.2% 1.6% 1.3% -3.9% -4.7% -2.3% 2.4% 1.6% 7.8% -3.0% -3.5% -7.1% 7.6% -1.9% 42.2% -32.0% 0.9% -35.7% 2.2% 4.0% 4.8% 3.8% -4.4% -5.6% -16.5% 4.8% 0.0% 2.6% -1.5% 0.3%
CEA Statistics
N42 | 37
Annex I
Table 5 | Motor gross written premiums 20012009 (m)

AT BE BG CH CY CZ DE DK EE ES FI FR GR HR HU IE IS IT LI LT LU LV MT NL NO PL PT RO SE SI SK TR UK CEA * At constant exchange rates Note: For MT, the drop in 2008 is because prior to 2008 cross-border business was included Austria Belgium Bulgaria Switzerland Cyprus Czech Republic Germany Denmark Estonia Spain Finland France Greece Croatia Hungary Ireland Iceland Italy Liechtenstein Lithuania Luxembourg Latvia Malta Netherlands Norway Poland Portugal Romania Sweden Slovenia Slovakia Turkey United Kingdom 2001 2 236 2 611 98 2 790 92 789 21 341 1 230 60 8 774 889 15 356 836 300 534 1 758 132 18 155 n.a. 48 242 75 44 3 948 1 409 2 381 1 680 n.a. 1 610 301 240 818 19 765 110 541 2002 2 410 2 735 142 3 015 98 973 21 968 1 365 71 9 794 908 16 277 980 332 667 1 891 139 19 608 n.a. 110 256 83 49 4 233 1 605 2 229 1 809 233 1 920 338 281 859 20 044 117 423 2003 2 588 2 831 188 3 116 112 1 039 22 325 1 581 87 10 409 957 17 136 1 100 353 731 1 895 137 20 708 n.a. 102 269 86 53 4 469 1 622 1 971 1 888 273 2 223 374 387 1 062 19 162 121 235 2004 2 745 2 931 230 3 224 134 1 102 22 504 1 637 101 11 110 1 045 17 623 1 147 388 818 1 705 125 21 232 n.a. 125 289 95 57 4 581 1 631 2 068 1 967 336 2 409 415 479 1 484 19 105 124 843 2005 2 841 2 983 308 3 345 147 1 243 22 005 1 692 117 11 514 1 143 17 860 1 218 421 904 1 625 158 21 352 n.a. 143 303 106 59 4 565 1 741 2 457 1 997 464 2 449 456 493 1 930 19 335 127 371 2006 2 883 3 034 347 3 373 156 1 328 21 221 1 751 137 11 933 1 196 17 729 1 231 461 884 1 632 164 21 612 n.a. 188 317 150 60 4 671 1 772 2 566 2 004 643 2 477 483 482 2 255 18 620 127 762 2007 2 884 3 089 444 3 270 163 1 405 20 800 1 551 176 12 298 1 189 17 703 1 592 517 929 1 544 202 21 524 n.a. 244 324 245 61 4 705 1 826 2 891 1 944 1 252 2 458 522 547 2 582 18 951 129 833 2008 2 853 3 144 547 3 399 172 1 636 20 372 1 531 165 12 138 1 244 17 878 1 650 564 923 1 421 133 20 845 n.a. 243 333 268 50 4 630 1 887 3 421 1 810 1 469 2 280 555 605 2 447 16 125 126 739 2009 2 818 3 206 531 3 466 182 1 555 20 100 1 633 149 11 451 1 300 17 838 1 843 535 771 1 335 118 20 147 n.a. 177 363 158 52 4 550 1 878 2 731 1 666 1 271 2 021 565 n.a. 2 128 14 266 121 384 Nominal growth 2008/09* -1.3% 2.0% -3.0% -3.0% 5.6% 0.7% -1.3% 6.6% -10.2% -5.7% 4.5% -0.2% 11.7% -3.7% -6.9% -6.1% 6.6% -3.3% n.a. -27.2% 9.0% -40.9% 3.5% -1.7% 5.6% -1.6% -8.0% -0.2% -2.1% 1.8% n.a. -1.3% -1.0% -1.7%
38 | CEA Statistics
N42
Annex I
Table 6 | Health gross written premiums 20012009 (m)

AT BE BG CH CY CZ DE DK EE ES FI FR GR HR HU IE IS IT LI LT LU LV MT NL NO PL PT RO SE SI SK TR UK CEA * At constant exchange rates Note: For MT, the drop in 2008 is because prior to 2008 cross-border business was included Austria Belgium Bulgaria Switzerland Cyprus Czech Republic Germany Denmark Estonia Spain Finland France Greece Croatia Hungary Ireland Iceland Italy Liechtenstein Lithuania Luxembourg Latvia Malta Netherlands Norway Poland Portugal Romania Sweden Slovenia Slovakia Turkey United Kingdom 2001 1 207 601 1 3 339 20 8 21 718 n.a. 3 2 981 69 4 548 4 43 21 n.a. n.a. 1 343 n.a. 5 15 20 n.a. 5 412 n.a. 36 228 n.a. n.a. 266 n.a. 246 5 168 47 301 2002 1 252 659 0 3 661 25 10 23 082 n.a. 3 3 251 48 4 841 28 23 31 n.a. n.a. 1 426 n.a. 6 17 22 14 6 202 n.a. 38 273 2 n.a. 290 n.a. 284 4 866 50 355 2003 1 300 711 0 3 662 25 13 24 741 n.a. 3 3 588 85 5 600 32 14 32 n.a. n.a. 1 509 n.a. 5 19 24 15 6 632 7 33 315 2 n.a. 297 n.a. 302 4 754 53 720 2004 1 344 773 0 4 017 31 19 26 413 n.a. 4 4 016 93 6 451 5 17 35 n.a. n.a. 1 577 n.a. 5 21 27 15 7 667 8 32 346 3 n.a. 289 n.a. 366 4 995 58 570 2005 1 398 856 1 4 016 40 26 27 348 n.a. 4 4 381 112 7 103 5 25 40 n.a. n.a. 1 716 n.a. 7 24 35 16 7 750 13 39 372 0 n.a. 286 n.a. 460 5 358 61 432 2006 1 437 936 0 4 020 43 31 28 483 n.a. 4 4 812 122 7 569 5 31 23 n.a. n.a. 1 828 n.a. 10 28 45 18 31 463 14 43 408 9 n.a. 337 n.a. 543 5 823 88 088 2007 1 483 1 035 0 3 846 62 44 29 461 n.a. 5 5 267 137 8 314 7 34 25 n.a. n.a. 2 050 n.a. 14 30 61 19 31 964 19 53 440 8 1 683 368 n.a. 682 6 221 93 333 2008 1 535 1 118 0 5 472 67 68 30 331 n.a. 6 5 580 161 8 420 9 39 33 n.a. n.a. 2 159 n.a. 22 30 77 5 34 864 20 84 483 8 1 778 390 n.a. 696 4 983 98 437 2009 1 591 1 199 0 5 770 71 74 31 480 n.a. 6 5 855 176 8 991 11 37 28 n.a. n.a. 2 194 n.a. 11 36 56 5 36 814 23 64 500 7 582 415 n.a. 654 4 537 101 185 Nominal growth 2008/09* 3.6% 7.2% 26.5% 0.3% 6.0% 14.8% 3.8% n.a. -9.4% 4.9% 9.3% 6.8% 18.6% -3.6% -4.2% n.a. n.a. 1.6% n.a. -50.7% 18.6% -26.9% 9.5% 5.6% 23.2% -6.1% 3.5% 2.9% -63.9% 6.4% n.a. 6.7% 1.9% 3.3%
CEA Statistics
N42 | 39
Annex I
Table 7 | Property gross written premiums 20012009 (m)

AT BE BG CH CY CZ DE DK EE ES FI FR GR HR HU IE IS IT LI LT LU LV MT NL NO PL PT RO SE SI SK TR UK CEA * At constant exchange rates Notes: For DK, property includes personal insurance (ie households, homeowners and vacation home insurance plus hidden-defects insurance from 2003) and commercial insurance (ie buildings and movable property insurance) For MT, the drop in 2008 is because prior to 2008 cross-border business was included Austria Belgium Bulgaria Switzerland Cyprus Czech Republic Germany Denmark Estonia Spain Finland France Greece Croatia Hungary Ireland Iceland Italy Liechtenstein Lithuania Luxembourg Latvia Malta Netherlands Norway Poland Portugal Romania Sweden Slovenia Slovakia Turkey United Kingdom 2001 1 547 1 505 49 2 107 37 323 12 382 1 463 20 3 425 540 9 910 278 109 301 824 56 3 632 n.a. 23 136 34 20 2 393 1 151 632 525 n.a. 1 763 121 116 541 14 725 60 688 2002 1 615 1 656 62 2 238 43 413 13 113 1 587 25 4 288 563 11 041 326 122 398 1 016 63 4 058 n.a. 29 153 28 22 3 129 1 436 633 609 50 2 022 130 132 614 16 666 68 280 2003 1 718 1 784 74 2 268 60 503 13 844 1 874 29 4 944 610 11 853 386 126 429 1 158 61 4 195 n.a. 30 157 31 22 3 432 1 497 584 623 63 2 576 133 143 644 17 532 73 385 2004 1 879 1 825 95 2 235 69 520 14 110 1 966 34 5 526 634 12 366 422 136 420 1 117 59 4 446 n.a. 31 174 28 22 3 529 1 504 611 676 68 2 256 141 160 749 18 398 76 206 2005 1 989 1 813 94 2 250 76 579 14 172 2 018 38 6 173 660 12 645 430 141 457 1 071 72 4 654 n.a. 36 222 34 22 3 520 1 581 688 684 84 2 826 146 158 883 18 887 79 106 2006 2 078 1 969 116 2 244 85 605 14 234 2 028 45 6 560 654 12 831 463 159 456 1 030 71 4 834 n.a. 48 226 43 22 3 534 1 606 742 689 127 2 874 161 167 921 18 226 79 847 2007 2 193 2 126 120 1 882 94 613 14 016 1 817 55 6 857 685 13 303 540 167 497 1 021 82 4 918 n.a. 63 178 57 24 3 659 1 616 812 706 256 2 878 176 185 879 17 838 80 313 2008 2 266 2 244 127 2 238 102 753 14 583 2 169 56 7 690 721 13 806 561 187 559 978 56 5 078 n.a. 98 183 64 20 3 735 1 647 944 732 313 2 489 198 212 901 15 836 81 545 2009 2 325 2 303 138 2 364 108 751 14 900 2 241 58 7 735 762 14 101 571 185 547 960 56 5 080 n.a. 55 213 45 21 3 876 1 638 858 744 221 2 293 228 n.a. 782 13 604 79 969 Nominal growth 2007/08* 2.6% 2.6% 8.4% 0.5% 6.0% 5.7% 2.2% 3.2% 3.3% 0.6% 5.7% 2.1% 1.8% 0.8% 9.2% -1.9% 20% 0% n.a. -43.8% 16.6% -28.6% 2.8% 3.8% 5.5% 12% 1.7% -18.8% 1.7% 15.2% n.a. -1.5% -39% 0.9%
40 | CEA Statistics
N42
Annex I
Table 8 | Other non-life gross written premiums 20012009 (m)

AT BE BG CH CY CZ DE DK EE ES FI FR GR HR HU IE IS IT LI LT LU LV MT NL NO PL PT RO SE SI SK TR UK CEA * At constant exchange rates Notes: The other non-life business lines include general liability, accident, marine, aviation and transport (MAT), legal expenses, credit and travel insurance For MT, the drop in 2008 is because prior to 2008 cross-border business was included Austria Belgium Bulgaria Switzerland Cyprus Czech Republic Germany Denmark Estonia Spain Finland France Greece Croatia Hungary Ireland Iceland Italy Liechtenstein Lithuania Luxembourg Latvia Malta Netherlands Norway Poland Portugal Romania Sweden Slovenia Slovakia Turkey United Kingdom 2001 1 649 2 684 35 3 423 54 412 17 087 1 445 9 2 973 954 13 610 233 106 96 768 59 6 795 n.a. 32 112 39 24 4 703 930 525 1 069 n.a. 1 265 142 60 248 22 190 83 730 2002 1 721 2 823 38 3 625 59 443 17 544 1 583 10 4 198 1 048 14 339 251 120 106 1 048 66 7 322 n.a. 39 92 40 14 6 379 922 538 1 160 37 1 273 159 70 304 27 080 94 451 2003 1 818 2 924 42 3 708 65 439 18 245 1 906 11 3 890 1 007 15 417 282 130 128 1 187 68 7 801 n.a. 42 104 45 14 6 911 1 040 520 1 218 54 1 962 166 67 322 28 922 100 455 2004 1 841 2 997 50 3 755 50 472 18 796 2 143 12 5 236 1 062 16 445 321 134 139 1 246 67 8 156 n.a. 39 91 36 14 7 479 954 602 1 234 71 2 117 183 74 437 27 154 103 408 2005 1 943 3 003 76 3 817 52 544 19 215 2 270 13 5 706 1 131 17 608 335 150 149 1 145 81 8 587 n.a. 43 61 29 18 7 325 1 073 725 1 254 107 2 051 194 87 724 29 027 108 660 2006 2 008 3 168 85 3 867 59 678 19 552 2 452 14 6 189 1 164 18 760 361 170 186 1 161 84 8 851 n.a. 47 56 30 16 7 575 1 111 862 1 260 245 2 275 204 109 855 28 681 112 274 2007 2 108 3 285 80 3 658 53 774 19 679 2 584 18 6 634 1 118 19 332 353 178 225 1 045 84 9 164 n.a. 56 141 37 20 8 223 1 133 1 081 1 291 53 360 219 128 1 231 28 313 112 833 2008 2 198 3 421 98 3 906 60 853 19 651 2 572 17 7 189 1 126 20 722 376 199 192 935 70 9 372 n.a. 73 159 41 18 6 884 1 188 1 281 1 299 146 436 234 148 1 309 24 344 110 752 2009 2 270 3 350 66 4 295 73 795 19 600 2 158 21 6 795 1 091 20 849 375 186 130 804 58 9 325 n.a. 54 100 29 17 6 878 1 145 1 175 1 222 87 386 235 n.a. 1 278 21 554 106 927 Nominal growth 2008/09* 3.3% -2.1% -32.5% 4.6% -28.9% -1.3% -0.3% -16.2% 24.4% -5.5% -3.1% 0.6% -0.3% -4.8% -24.3% -14% -0.5% -0.5% n.a. -26.4% -37.4% -29.1% -58.9% -0.1% 2.3% 13% -5.9% -31.6% -2.2% 0.4% n.a. 10.7% -0.9% -0.8%
CEA Statistics
N42 | 41
Annex I
Table 9 | Total insurers investment portfolio 20012009 (m)

AT BE BG CH CY CZ DE DK EE ES FI FR GR HR HU IE IS IT LI LT LU LV MT NL NO PL PT RO SE SI SK TR UK CEA Austria Belgium Bulgaria Switzerland Cyprus Czech Republic Germany Denmark Estonia Spain Finland France Greece Croatia Hungary Ireland Iceland Italy Liechtenstein Lithuania Luxembourg Latvia Malta Netherlands Norway Poland Portugal Romania Sweden Slovenia Slovakia Turkey United Kingdom 2001 51 055 108 974 n.a. 263 678 1 541 4 858 943 844 129 681 124 104 952 70 526 893 705 5 696 993 2 964 47 412 615 277 912 1 238 206 25 866 154 589 264 012 61 006 11 335 23 790 n.a. 204 574 2 292 1 043 2 815 2002 53 768 112 906 n.a. 272 399 1 328 6 454 1001 581 132 737 154 117 523 74 945 921 217 5 820 1 176 3 730 46 644 687 314 586 1 518 270 25 736 154 676 250 887 71 092 13 061 25 968 161 203 870 3 103 1 152 2 924 2003 55 953 128 595 n.a. 269 399 1 431 6 775 1058 275 144 659 205 129 377 81 933 1012 337 6 928 1 335 4 109 54 201 n.a. 365 385 2 432 322 30 357 150 587 267 743 69 848 13 302 28 696 223 228 466 3 514 1 427 3 443 2004 59 873 151 730 n.a. 264 315 1 495 7 831 1091 831 158 958 281 145 181 89 069 1125 661 7 963 1 530 4 722 65 968 n.a. 410 678 3 433 386 35 742 159 710 288 008 78 045 15 711 32 853 325 249 663 4 051 1 749 4 126 2005 65 768 178 589 394 272 341 1 754 8 990 1138 555 183 548 409 158 595 101 346 1277 679 9 267 1 824 5 729 78 889 n.a. 459 464 6 394 421 44 973 178 1 237 324 930 92 343 20 456 40 228 440 288 588 3 771 2 169 6 171 2006 69 413 193 085 560 278 443 2 114 9 649 1199 745 192 356 562 175 477 107 831 1402 201 10 460 2 252 6 090 90 990 1 500 477 545 10 325 637 54 112 224 1 677 334 538 102 056 25 699 45 452 n.a. 279 490 4 458 2 818 6 818 2007 71 941 202 781 773 275 384 2 202 10 149 1249 404 196 439 798 181 780 111 812 1491 236 11 843 2 640 7 067 92 516 1 343 466 398 n.a. 841 60 546 305 2 257 320 526 113 663 30 926 49 446 n.a. 327 976 5 847 3 285 8 191 2008 76 788 198 288 890 257 746 1 878 11 137 1161 060 205 864 673 191 531 98 162 1406 552 11 330 2 678 7 957 73 034 588 434 676 n.a. n.a. 59 293 387 2 294 311 505 105 832 35 842 50 981 n.a. 247 379 4 451 3 701 8 460 2009 77 925 218 570 995 n.a. 2 600 11 392 1190 000 227 607 1 041 198 696 113 750 1616 600 n.a. 2 890 n.a. 71 400 412 489 500 n.a. n.a. n.a. 375 n.a. 334 707 105 600 29 216 57 858 n.a. 256 489 n.a. n.a. 8 277 Nominal growth 2008/09* 1.5% 10.,2% 11.9% n.a. 38.4% 8.4% 2.5% 10.4% 54.7% 3.7% 15.9% 14.9% n.a. 9.6% n.a. -2.2% -15.8% 12.6% n.a. n.a. n.a. -2.8% n.a. 7.4% 5.9% 0.4% 13.5% n.a. 3.7% n.a. n.a. 11.0% 7.5% 8.1%
1 486 386 1 386 198 1 391 360 1 493 355 1 733 507 1 856 129 1 968 206 1 495 802 1 436 767 4 993 835 5 054 425 5 362 767 5 795 402 6 508 950 6 944 704 7 268 523 6 466 759 6 818 289
* At constant exchange rates Note: For ES, the total insurers investment portfolio is greater than the sum of life & non-life insurers investment portfolios as unaffected investment is included in the total
42 | CEA Statistics
N42
Annex I
Table 10 | Life insurers investment portfolio 20012009 (m)

AT BE BG CH CY CZ DE DK EE ES FI FR GR HR HU IE IS IT LI LT LU LV MT NL NO PL PT RO SE SI SK TR UK CEA Austria Belgium Bulgaria Switzerland Cyprus Czech Republic Germany Denmark Estonia Spain Finland France Greece Croatia Hungary Ireland Iceland Italy Liechtenstein Lithuania Luxembourg Latvia Malta Netherlands Norway Poland Portugal Romania Sweden Slovenia Slovakia Turkey United Kingdom 2001 36 730 81 393 n.a. 192 827 1 382 3 520 570 948 117 526 56 87 612 61 218 782 049 4 014 281 1 378 40 058 35 218 168 n.a. 45 23 841 45 394 236 721 49 327 6 760 18 749 n.a. 163 022 1 292 800 1 441 2002 38 850 85 097 n.a. 198 916 1 151 4 545 589 989 120 479 72 93 676 66 984 810 951 4 040 381 1 734 38 047 34 250 751 n.a. 70 23 770 49 475 223 767 57 308 8 122 20 777 89 170 399 1 762 920 1 676 2003 40 625 99 610 n.a. 195 688 1 277 n.a. 608 698 131 230 102 100 237 73 638 886 934 3 900 492 n.a. 44 575 n.a. 297 899 n.a. 100 28 107 46 471 238 222 56 514 8 418 23 371 132 191 631 1 954 1 094 1 897 2004 43 315 119 958 n.a. 188 956 1 330 n.a. 626 264 144 608 145 107 987 80 203 989 294 5 529 628 n.a. 55 308 n.a. 338 812 2 850 156 33 463 39 603 254 953 64 157 9 764 26 846 191 209 910 2 313 1 307 2 252 2005 47 442 148 318 136 189 565 1 567 n.a. 648 722 167 484 227 116 507 91 710 1120 441 6 580 665 n.a. 68 823 n.a. 383 676 5 813 162 42 307 43 801 287 660 75 947 12 849 33 664 333 243 152 2 497 1 577 3 615 2006 50 099 161 940 221 190 366 1 907 n.a. 666 451 174 778 318 124 072 97 782 1230 039 7 621 n.a. n.a. 80 521 80 398 711 9 746 336 51 082 68 1 009 294 406 84 335 16 697 38 697 n.a. 231 644 2 996 1 791 2 882 2007 52 299 172 242 344 190 312 1 958 7 156 684 013 177 943 512 126 265 101 309 1311 114 8 678 1 285 n.a. 82 342 57 388 507 n.a. 473 57 273 50 1 258 284 023 92 580 20 187 42 242 n.a. 231 411 3 958 2 113 3 166 2008 53 684 167 831 391 169 948 1 603 8 313 686 071 188 123 378 n.a. 87 976 1242 297 8 130 1 429 n.a. 63 818 20 358 205 n.a. n.a. 57 500 72 1 222 272 925 84 439 23 054 41 869 n.a. 200 860 2 876 2 399 3 388 n.a. 2009 53 415 188 342 432 n.a. 2 375 n.a. 706 500 209 048 692 n.a. 102 442 1429 700 n.a. 1 620 n.a. 63 000 39 410 800 n.a. n.a. n.a. 82 n.a. 292 764 85 033 19 330 49 442 n.a. 210 795 n.a. n.a. 3 205 n.a. Nominal growth 2008/09* -0.5% 12.2% 10.5% n.a. 48.2% n.a. 3.0% 11.0% 83.1% n.a. 16.4% 15.1% n.a. 15.2% n.a. -1.3% 129.9% 14.7% n.a. n.a. n.a. 15.5% n.a. 7.3% 6.9% 3.3% 18.1% n.a. 15.9% n.a. n.a. 7.3% 8.1% n.a.
1 384 584 1 278 582 1 290 075 1 372 989 1 615 762 1 730 430 1 833 334 1 388 577 1 342 122 4 086 216 4 093 465 4 326 936 4 684 131 5 318 044 5 651 025 5 878 404
* At constant exchange rates
CEA Statistics
N42 | 43
Annex I
Table 11 | Non-life insurers investment portfolio 20012009 (m)

AT BE BG CH CY CZ DE DK EE ES FI FR GR HR HU IE IS IT LI LT LU LV MT NL NO PL PT RO SE SI SK TR GB CEA * At constant exchange rates Austria Belgium Bulgaria Switzerland Cyprus Czech Republic Germany Denmark Estonia Spain Finland France Greece Croatia Hungary Ireland Iceland Italy Liechtenstein Lithuania Luxembourg Latvia Malta Netherlands Norway Poland Portugal Romania Sweden Slovenia Slovakia Turkey United Kingdom 2001 14 325 27 581 n.a. 70 851 159 1 338 372 896 12 155 68 28 165 9 308 111 656 1 681 712 1 586 7 354 580 59 744 n.a. 161 2 025 108 195 27 291 11 679 4 575 5 041 n.a. 41 552 985 242 1 373 101 801 917 189 2002 14 918 27 809 n.a. 73 483 177 1 909 411 592 12 265 82 21 267 7 961 110 266 1 780 795 1 996 8 597 653 63 835 n.a. 200 1 966 106 200 27 122 13 784 4 939 5 190 72 33 471 1 341 232 1 247 107 616 2003 15 329 28 985 n.a. 73 712 154 n.a. 449 577 13 429 102 23 530 8 295 125 403 3 028 843 n.a. 9 626 n.a. 67 486 n.a. 221 2 250 104 116 29 520 13 334 4 883 5 325 91 36 836 1 560 334 1 546 101 285 2004 16 557 31 772 n.a. 75 353 165 n.a. 465 567 14 350 136 26 002 8 866 136 367 2 434 902 n.a. 10 660 n.a. 71 866 583 230 2 279 120 107 33 056 13 888 5 947 6 007 134 39 753 1 738 442 1 874 120 365 2005 18 326 30 271 258 82 775 185 n.a. 489 833 16 064 183 29 196 9 636 157 238 2 687 1 043 n.a. 10 066 n.a. 75 788 581 260 2 666 135 436 37 269 16 396 7 607 6 565 388 45 435 1 274 593 2 618 117 745 2006 19 314 31 145 339 88 076 207 n.a. 533 294 17 578 244 31 786 10 049 172 162 2 839 n.a. n.a. 10 469 1 420 78 834 579 301 3 030 173 669 40 129 17 721 9 002 6 755 n.a. 47 846 1 462 1 027 3 390 126 301 2007 19 642 30 539 429 85 226 245 2 993 567 355 18 497 286 34 210 10 522 180 122 3 165 1 355 n.a. 10 174 1 286 77 890 n.a. 368 3 273 254 999 36 503 20 727 10 738 7 204 n.a. 50 612 1 889 1 172 4 423 134 874 2008 23 104 30 457 499 87 799 275 3 608 474 989 17 741 295 n.a. 10 186 164 255 3 200 1 249 n.a. 9 216 567 76 471 n.a. n.a. 3 500 316 1 072 38 580 21 393 12 789 7 861 n.a. 46 519 1 571 1 302 5 073 107 225 n.a. 2009 24 510 30 228 563 n.a. 225 n.a. 483 500 18 559 349 n.a. 11 308 186 900 n.a. 1 269 n.a. 8 400 373 78 700 n.a. n.a. n.a. 293 n.a. 41 943 20 567 9 886 8 416 n.a. 45 695 n.a. n.a. 5 072 94 645 n.a. Nominal growth 2008/09* 6.1% -0.8% 13.0% n.a. -18.2% n.a. 1.8% 4.5% 18.2% n.a. 11.0% 13.8% n.a. 3.3% n.a. -8.9% -21.1% 2.9% n.a. n.a. n.a. -6.9% n.a. 8.7% 2.0% -4.7% 7.1% n.a. 8.5% n.a. n.a. 13.4% -1.2% n.a.
956 871 1 016 904 1 087 521 1 163 516 1 256 139 1 316 974
44 | CEA Statistics
N42
Annex I
Table 12 | Structure of insurers investment portfolio 20002008 (bn)

Land and buildings Investments in affiliated undertakings and participating interests Shares and other variable-yield securities and units in unit trusts Debt securities and other fixedincome securities Loans, including loans guaranteed by mortgages Deposits with credit institutions Other Total 2000 255.5 194.8 1 829.5 1 488.2 844.8 43.7 260.9 4 917.4 2001 256.9 234.6 1 622.3 1 621.0 850.8 57.8 316.6 4 960.0 2002 264.2 267.3 1 323.4 1 821.0 898.5 77.1 333.7 4 985.1 2003 256.8 278.9 1 457.4 1 987.3 964.8 80.3 343.0 5 368.4 2004 261.5 274.9 1 589.2 2 195.8 983.9 148.3 308.4 5 762.0 2005 277.9 289.8 1 985.1 2 345.4 1 043.2 152.3 350.2 6 443.9 2006 307.3 299.7 2 225.2 2 429.8 1 069.6 161.6 359.3 6 852.5 2007 300.3 317.6 2 387.7 2 383.8 1 128.4 180.9 331.2 7 029.8 2008 260,3 321.5 1 669.4 2 563.1 1 084.1 210.5 316.1 6 425.1
CEA Statistics
N42 | 45
Annex I
Table 13 | Number of insurance companies 20002009

AT BE BG CH CY CZ DE DK EE ES FI FR GR HR HU IE IS IT LI LT LU LV MT NL NO PL PT RO SE SI SK TR UK CEA Austria Belgium Bulgaria Switzerland Cyprus Czech Republic Germany Denmark Estonia Spain Finland France Greece Croatia Hungary Ireland Iceland Italy Liechtenstein Lithuania Luxembourg Latvia Malta Netherlands Norway Poland Portugal Romania Sweden Slovenia Slovakia Turkey United Kingdom 2000 77 210 n.a. 144 38 41 659 252 14 423 65 527 110 27 22 191 13 244 14 33 93 25 23 367 82 65 88 n.a. 482 14 28 63 822 5 256 2001 75 204 n.a. 142 36 43 640 243 14 414 69 504 107 24 23 196 11 246 19 31 93 21 19 353 96 71 86 n.a. 461 14 28 63 810 5 156 2002 73 201 n.a. 143 36 42 645 228 13 401 68 495 102 23 28 199 10 245 21 31 94 20 18 389 96 74 85 42 448 14 29 58 806 5 177 2003 72 189 n.a. 141 34 42 640 216 13 393 68 486 100 24 28 224 11 236 23 28 95 19 18 379 96 77 74 46 440 15 28 55 772 5 082 2004 71 181 n.a. 143 33 40 633 213 13 379 68 475 99 24 28 217 11 235 28 28 95 18 20 363 112 74 70 39 428 16 25 53 1 167 5 399 2005 73 171 n.a. 143 33 45 632 206 12 362 67 486 95 25 28 226 10 230 32 27 95 20 25 352 116 74 70 37 415 18 26 53 1 118 5 322 2006 72 161 n.a. 143 32 49 613 201 16 354 66 477 90 20 27 229 10 235 35 30 95 20 37 368 114 72 76 36 392 18 25 53 1 050 5 216 2007 71 156 41 143 30 52 609 202 19 357 63 464 86 23 31 233 9 234 37 28 94 21 41 352 118 76 83 42 392 20 24 56 1 017 5 224 2008 71 151 45 148 34 53 607 202 20 296 63 461 85 25 30 236 9 239 42 30 96 23 44 335 122 66 85 43 381 21 20 59 972 5 114 2009 72 148 45 n.a. 34 52 604 187 20 294 63 452 82 27 29 n.a. 9 234 41 n.a. n.a. 24 54 320 124 65 84 45 381 21 n.a. 60 934 n.a.
Notes: DK: includes life insurance companies and multi-employer pension funds as well as non-life insurance including foreign branches that are members of the Danish Insurance Association UK: there was a change in definition in 2004
46 | CEA Statistics
N42
Annex I
Table 14 | Number of employees 20002009

AT BE BG CH CY CZ DE DK EE ES FI FR GR HR HU IE IS IT LI LT LU LV MT NL NO PL PT RO SE SI SK TR UK CEA Austria Belgium Bulgaria Switzerland Cyprus Czech Republic Germany Denmark Estonia Spain Finland France Greece Croatia Hungary Ireland Iceland Italy Liechtenstein Lithuania Luxembourg Latvia Malta Netherlands Norway Poland Portugal Romania Sweden Slovenia Slovakia Turkey United Kingdom 2000 28 530 24 898 n.a. 49 366 1 607 16 112 240 200 13 834 1 669 45 917 11 570 136 500 9 500 4 540 27 478 12 289 600 42 264 n.a. 4 000 2 268 1 587 670 48 468 9 300 32 764 13 623 n.a. 17 162 4 799 7 783 10 302 228 300 2001 27 359 26 293 n.a. 48 171 1 650 15 718 245 400 13 692 1 623 55 728 10 888 138 600 9 500 5 049 27 762 12 842 600 41 746 n.a. 4 900 2 532 1 799 625 50 243 9 000 32 595 13 700 n.a. 17 258 4 929 7 916 10 168 223 900 2002 25 925 25 912 n.a. 46 175 1 660 15 740 248 100 13 516 1 552 47 477 11 301 139 200 9 500 5 495 27 587 15 000 574 39 980 n.a. 6 300 2 654 1 786 542 50 088 9 800 29 521 13 105 n.a. 18 987 5 204 7 622 10 750 217 475 2003 26 106 24 722 n.a. 44 514 1 665 15 658 244 300 13 647 1 458 48 116 11 542 138 500 9 500 6 194 28 069 15 227 572 39 291 n.a. 6 500 2 673 2 837 534 48 204 9 600 28 946 12 575 25 300 18 973 5 521 6 743 11 426 211 300 2004 26 494 24 506 n.a. 42 186 1 691 14 600 240 800 14 181 1 444 45 953 11 180 138 000 9 500 6 190 27 226 14 989 563 40 105 154 n.a. 2 969 2 988 642 53 190 9 300 28 677 11 835 36 130 18 914 5 690 6 484 12 140 208 100 2005 26 267 24 004 n.a. 45 606 1 700 14 506 233 300 14 046 1 364 49 135 10 448 143 700 9 500 7 017 26 001 14 303 575 39 924 170 n.a. 3 045 3 333 667 52 930 9 900 28 864 11 829 36 000 19 000 5 878 6 304 12 837 176 100 2006 26 292 23 752 n.a. 47 184 1 749 14 410 225 700 14 259 1 458 48 049 10 583 143 750 9 000 7 984 26 131 14 256 577 39 795 223 n.a. 3 170 3 800 806 52 470 9 300 28 474 11 518 n.a. 19 389 5 992 6 300 13 550 179 300 989 221 2007 26 667 24 048 n.a. 47 990 1 767 14 501 218 900 15 995 1 458 47 991 10 669 143 950 9 000 9 360 26 242 14 762 580 46 278 311 5 100 3 242 n.a. 832 52 040 9 500 30 251 11 295 n.a. 20 032 6 064 6 300 14 937 177 500 2008 26 547 24 300 n.a. 49 236 1 854 14 726 216 300 16 273 1 536 49 203 10 810 145 200 9 000 10 514 26 125 15 033 575 46 831 463 5 500 3 268 n.a. 786 51 010 9 310 29 623 11 307 n.a. 20 715 6 331 6 640 16 007 178 700 2009 26 732 23 964 n.a. 49 386 1 874 14 559 216 500 16 455 1 737 n.a. 10 556 147 400 8 500 11 184 n.a. n.a. 557 47 369 507 n.a. 3 480 n.a. n.a. 50 910 9 310 29 129 11 207 n.a. n.a. 6 306 n.a. 18 840 171 500 n.a.
1 047 900 1 061 587 1 048 528 1 060 213 1 056 821 1 028 253
997 562 1 003 723
Notes: DK: includes all people employed in the Danish market FR: there was a break in the series in 2005 IT: for the first time in 2007, the total number includes both 4 554 employees of other entities controlled by insurance companies and roughly 2 000 additional dealers following a large corporate restructuring NL: does not include employees from some health insurers; also, a break in the series in 2004
CEA Statistics
N42 | 47
Annex I
Table 15 | Breakdown of life insurance premiums by distribution channel 2008

AT BE BG DE ES FR HR IE IT LT MT NL PL PT SI SK TR UK Austria Belgium Bulgaria Germany Spain France Croatia Ireland Italy Lithuania Malta Netherlands Poland Portugal Slovenia Slovakia Turkey United Kingdom Direct writing 20.3% 19.2% 35.1% 3.4% 5.5% 16.0% 38.4% 47.5% 12.5% 8.0% 2.5% 27.0% 22.9% 6.4% 2.2% 62.0% 17.3% 4.0% Agents 7.8% 4.7% 36.1% 54.5% 13.7% 8.0% 41.4% 7.3% 23.6% 31.0% 2.0% 57.0% 27.9% 10.7% 52.9% 36.4% 32.0% 27.0% Brokers 17.5% 33.3% 28.8% 19.6% 6.7% 14.0% 1.5% 45.2% 1.5% 13.0% 3.5% 0.0% 1.6% 1.3% 17.6% 1.7% 4.7% 69.0% Bancassurance 51.7% 42.4% 0.0% 19.9% 72.3% 60.0% 17.6% 0.0% 62.5% 48.0% 79.9% 14.0% 44.4% 81.6% 6.4% 0.0% 46.0% 0.0% Other 2.7% 0.4% 0.0% 2.6% 1.9% 2.0% 1.1% 0.0% 0.0% 0.0% 12.1% 2.0% 3.2% 0.0% 20.9% 0.0% 0.0% 0.0%
Notes: Data for DE and the UK refers to new business For the UK, bancassurance is included in all other channels For NL, there is no distinction between agents and brokers Data for ES and LI is from 2007
Table 16 | Breakdown of non-life insurance premiums by distribution channel 2008

AT BE BG DE ES FR HR IE IT LT NL PL PT SI SK TR UK Austria Belgium Bulgaria Germany Spain France Croatia Ireland Italy Lithuania Netherlands Poland Portugal Slovenia Slovakia Turkey United Kingdom Direct writing 37.8% 20.3% 22.9% 3.8% 22.1% 35.0% 68.7% 40.8% 6.3% 44.0% 49.0% 24.0% 10.0% 18.9% 66.0% 6.7% 22.4% Agents 12.2% 10.5% 37.4% 62.3% 38.1% 35.0% 22.1% 0.0% 83.8% 18.0% 41.0% 58.8% 60.7% 67.5% 31.5% 71.6% 5.2% Brokers 37.8% 62.0% 39.7% 24.4% 26.7% 18.0% 2.2% 59.2% 7.6% 36.0% 0.0% 14.3% 16.9% 11.2% 2.4% 10.1% 56.4% Bancassurance 5.4% 6.3% 0.0% 6.0% 11.5% 10.0% 1.4% 0.0% 2.3% 2.0% 9.0% 2.1% 9.9% 0.4% 0.0% 11.7% 9.8% Other 7.0% 0.9% 0.0% 3.5% 1.6% 2.0% 5.6% 0.0% 0.0% 0.0% 1.0% 0.8% 2.5% 2.0% 0.0% 0.0% 6.2%
Notes: For NL, there is no distinction between brokers and agents Data for ES and LI is from 2007
48 | CEA Statistics
N42
Annex I
Part B: Macroeconomic data

Table 17 | Euro exchange rates 20002009
2000 BG CH CY CZ DK EE GR HR HU IS LI LT LV MT NO PL RO SE SI SK TR UK Bulgaria Switzerland Cyprus Czech Republic Denmark Estonia Greece Croatia Hungary Iceland Liechtenstein Lithuania Latvia Malta Norway Poland Romania Sweden Slovenia Slovakia Turkey United Kingdom 1 952 1 558 0 574 35 599 7 454 15 647 336 630 7 643 260 040 72 580 1 558 3 695 0 559 0 404 8 113 4 008 1 992 8 445 206 613 42 602 0 575 0 609 2001 1 948 1 511 0 576 34 068 7 452 15 647 340 750 7 482 256 590 87 420 1 511 3 582 0 560 0 403 8 048 3 672 2 600 9 255 217 980 43 300 1 102 0 622 2002 1 949 1 467 0 575 30 804 7 431 15 647 340 750 7 413 242 960 86 180 1 467 3 459 0 581 0 409 7 509 3 857 3 127 9 161 225 977 42 694 1 440 0 629 2003 1 949 1 521 0 584 31 846 7 431 15 647 340 750 7 569 253 620 86 650 1 521 3 453 0 641 0 426 8 003 4 400 3 755 9 124 233 849 41 489 1 695 0 692 2004 1 953 1 544 0 582 31 891 7 440 15 647 340 750 7 497 251 660 87 140 1 544 3 453 0 665 0 428 8 370 4 527 4 051 9 124 239 087 40 022 1 777 0 679 2005 1 956 1 548 0 577 29 782 7 452 15 647 340 750 7 401 248 050 78 230 1 548 3 453 0 696 0 430 8 009 4 023 3 621 9 282 239 568 38 599 1 677 0 684 2006 1 956 1 573 0 576 28 342 7 459 15 647 340 750 7 325 264 260 87 760 1 573 3 453 0 696 0 429 8 047 3 896 3 526 9 254 239 596 37 234 1 809 0 682 2007 1 956 1 643 0 583 27 766 7 451 15 647 340 750 7 338 251 350 87 630 1 643 3 453 0 700 0 429 8 017 3 784 3 333 9 250 239 640 33 775 1 787 0 684 2008 1 956 1 587 0 583 24 946 7 456 15 647 340 750 7 224 251 510 143 830 1 587 3 453 0 703 0 429 8 224 3 512 3 678 9 615 239 640 31 262 1 906 0 796 2008 1 956 1 510 0 583 26 435 7 446 15 647 340 750 7 340 280 330 172 670 1 510 3 453 0 706 0 429 8 728 4 328 4 240 10 619 239 640 30 126 2 163 0 891
Source: Eurostat
CEA Statistics
N42 | 49
Annex I
Table 18 | GDP at current market prices 20002009 (m)

AT BE BG CH CY CZ DE DK EE ES FI FR GR HR HU IE IS IT LI LT LU LV MT NL NO PL PT RO SE SI SK TR UK CEA Source: Eurostat Austria Belgium Bulgaria Switzerland Cyprus Czech Republic Germany Denmark Estonia Spain Finland France Greece Croatia Hungary Ireland Iceland Italy Liechtenstein Lithuania Luxembourg Latvia Malta Netherlands Norway Poland Portugal Romania Sweden Slovenia Slovakia Turkey United Kingdom 2000 207 529 252 216 13 704 270 918 10 079 61 495 173 598 6 160 630 263 132 198 137 930 23 117 51 320 104 830 9 421 2 693 12 377 22 001 8 496 4 221 417 960 182 579 185 714 122 270 40 651 266 422 21 435 22 029 289 933 2001 212 499 259 433 15 250 284 886 10 801 69 045 179 226 6 971 680 678 139 789 146 428 25 501 59 584 116 931 8 830 2 784 13 577 22 572 9 320 4 301 447 731 190 956 212 294 129 308 45 357 251 340 22 707 23 555 217 905 2002 218 848 268 256 16 623 296 018 11 170 80 004 184 744 7 776 729 206 143 808 156 615 28 089 70 874 130 258 9 474 2 857 15 052 23 992 9 911 4 489 465 214 204 074 209 617 135 434 48 615 264 244 24 527 25 953 243 440 2003 223 302 275 716 17 767 287 754 11 785 80 924 188 500 8 719 782 929 145 795 172 431 29 993 74 186 139 763 9 709 2 718 16 497 25 834 9 978 4 421 476 945 199 146 191 644 138 582 52 577 275 657 25 736 29 468 268 331 2004 232 782 290 825 19 875 292 382 12 728 88 262 197 070 9 685 841 042 152 151 185 813 32 754 82 666 149 098 10 660 2 782 18 158 27 455 11 176 4 505 491 184 208 256 204 237 144 128 61 064 287 689 27 136 33 970 314 584 2005 243 585 302 845 21 882 299 554 13 659 100 190 207 367 11 182 908 792 157 070 195 366 35 722 88 646 162 091 13 124 2 943 20 870 30 281 13 012 4 782 513 407 242 935 244 420 149 123 79 802 294 674 28 758 38 462 386 937 2006 256 162 318 193 25 238 311 873 14 673 113 696 218 747 13 229 167 009 210 460 39 093 89 894 176 759 13 311 3 180 23 979 34 149 16 047 5 111 540 216 268 363 272 089 155 446 97 751 313 450 31 056 44 537 419 232 2007 270 782 334 948 28 899 317 202 15 951 127 331 227 025 15 627 179 659 226 437 42 824 101 087 189 751 14 851 3 234 28 577 37 464 21 111 5 456 568 664 283 366 311 002 163 051 124 729 331 147 34 568 54 898 471 972 2008 281 868 344 676 34 118 341 330 17 248 147 879 233 027 16 073 184 728 239 141 47 365 105 536 181 815 10 265 3 480 32 203 39 347 23 160 5 703 595 883 309 251 362 415 166 437 139 753 328 088 37 135 64 778 498 373 2009 275 538 339 057 33 416 358 763 17 558 134 531 224 928 13 849 175 758 240 421 45 143 91 942 164 211 9 684 3 658 26 029 37 530 18 510 5 683 574 826 263 944 308 597 162 343 119 734 292 989 35 476 66 154 437 252
2 062 500 2 113 160 2 143 180 2 163 800 2 210 900 2 242 200 2 325 100 2 428 200 2 495 800 2 404 400
984 284 1 052 730 1 088 502 1 049 052
1 441 373 1 497 187 1 548 559 1 594 814 1 660 189 1 726 068 1 806 429 1 894 646 1 950 085 1 943 436
1 191 057 1 248 648 1 295 226 1 335 354 1 391 530 1 429 479 1 485 377 1 544 915 1 572 243 1 533 800
1 602 240 1 643 154 1 710 421 1 647 056 1 772 546 1 833 954 1 944 751 2 044 133 1 818 948 1 568 204 9 980 727 10 311 705 10 726 564 10 907 831 11 469 283 12 043 183 12 738 884 13 496 236 13 716 652 12 976 416
50 | CEA Statistics
N42
Annex I
Table 19 | Population 20002009 (thousands)

AT BE BG CH CY CZ DE DK EE ES FI FR GR HR HU IE IS IT LI LT LU LV MT NL NO PL PT RO SE SI SK TR UK CEA Source: Eurostat Austria Belgium Bulgaria Switzerland Cyprus Czech Republic Germany Denmark Estonia Spain Finland France Greece Croatia Hungary Ireland Iceland Italy Liechtenstein Lithuania Luxembourg Latvia Malta Netherlands Norway Poland Portugal Romania Sweden Slovenia Slovakia Turkey United Kingdom 2000 8 012 10 251 8 170 7 184 694 10 272 82 212 5 340 1 370 40 263 5 176 60 762 10 917 4 468 10 211 3 805 281 56 942 33 3 500 436 2 373 386 15 926 4 491 38 454 10 226 22 443 8 872 1 989 5 389 67 393 58 893 567 132 2001 8 042 10 287 8 020 7 230 702 10 236 82 350 5 359 1 364 40 720 5 188 61 202 10 950 4 442 10 188 3 866 285 56 977 33 3 481 442 2 355 393 16 046 4 514 38 248 10 293 22 132 8 896 1 992 5 379 68 367 59 109 569 087 2002 8 082 10 333 7 868 7 285 710 10 205 82 488 5 376 1 359 41 314 5 201 61 644 10 988 4 444 10 159 3 932 288 57 157 34 3 469 446 2 339 396 16 149 4 538 38 230 10 368 21 803 8 925 1 995 5 379 69 304 59 328 571 534 2003 8 121 10 376 7 824 7 339 723 10 207 82 534 5 391 1 354 42 005 5 213 62 078 11 024 4 442 10 130 3 996 290 57 605 34 3 454 452 2 325 399 16 225 4 565 38 205 10 441 21 742 8 958 1 996 5 380 70 231 59 569 574 624 2004 8 172 10 421 7 781 7 390 740 10 216 82 516 5 405 1 349 42 692 5 228 62 533 11 062 4 443 10 107 4 068 292 58 175 34 3 436 458 2 313 401 16 282 4 592 38 182 10 502 21 685 8 994 1 997 5 382 71 151 59 880 577 879 2005 8 228 10 479 7 740 7 437 758 10 236 82 469 5 419 1 346 43 398 5 246 63 001 11 104 4 443 10 087 4 159 297 58 607 35 3 414 465 2 301 404 16 320 4 623 38 165 10 549 21 634 9 030 2 000 5 387 72 065 60 243 581 091 2006 8 269 10 548 7 699 7 484 773 10 269 82 376 5 437 1 344 44 116 5 266 63 426 11 148 4 442 10 071 4 261 304 58 941 35 3 394 473 2 288 406 16 346 4 661 38 141 10 584 21 588 9 081 2 007 5 391 71 105 60 621 582 296 2007 8 301 10 626 7 660 7 551 784 10 334 82 266 5 461 1 342 44 879 5 289 63 803 11 193 4 439 10 056 4 357 312 59 375 35 3 376 480 2 276 409 16 382 4 709 38 121 10 608 21 547 9 148 2 010 5 397 70 138 60 996 583 659 2008 8 337 10 690 7 623 7 648 793 10 424 82 110 5 494 1 341 45 556 5 313 64 167 11 237 4 436 10 038 4 426 317 59 832 35 3 358 489 2 266 412 16 446 4 768 38 126 10 622 21 514 9 220 2 021 5 407 71 052 61 352 586 870 2009 8 372 10 753 7 585 7 699 806 10 448 82 087 5 511 1 338 46 221 5 332 64 526 11 281 4 434 10 028 4 522 317 60 067 36 3 344 495 2 255 414 16 493 4 807 38 114 10 674 21 469 9 280 2 027 5 411 71 989 61 707 589 840
CEA Statistics
N42 | 51
Annex II
Annex II. Distribution channel classification

1. Direct writing Insurance distributed by insurance companies, without intermediaries, through the use of direct marketing. This channel is split into:
1.1 Employees1 The companys own sales force operating from branch networks 1.2 Distance selling Call centres (telesales), the internet, mailing, etc.
2. Intermediaries
2.1 Agents Intermediaries who represent the interests of the insurer
Tied agent
Intermediary acting as an agent of the insurer and under exclusive agreement to refer business to one insurer
Multi-tied agent
Intermediary acting as an agent for several insurers and with multiple insurer agency agreements
2.2 Brokers Intermediaries who represent the interest of the insured 2.3 Other intermediaries Intermediaries such as affinity groups, car sellers, estate agents, travel agencies, etc.
3. Bancassurance The provision of insurance products by banks or lending institutions. The bank or lending institution may act as an insurance agent, bank employee or insurance broker 4. Other
1 Tied agents with an employment contract with an insurer are included under Tied agents
52 | CEA Statistics
N42
CEA Statistics N42 is available on the CEAs website: www.cea.eu. Also available at www.cea.eu is the European Insurance in Figures dataset, CEA Statistics N40, with data from 19992008.
CEA aisbl Brussels, November 2010 For further information: stat@cea.eu All rights reserved Design: Morris & Chapman
CEA Statistics N42: European Insurance in Figures, November 2010 is subject to copyright with all rights reserved. Reproduction in part is permitted if the source reference CEA Statistics N42, November 2010 is indicated. Courtesy copies are appreciated. Reproduction, distribution, transmission or sale of this publication as a whole is prohibited without the prior authorisation of the CEA. Although all the information used in this publication was taken carefully from reliable sources, the CEA does not accept any responsibility for the accuracy or the comprehensiveness of the information given. The information provided is for information purposes only and in no event shall the CEA be liable for any loss or damage arising from the use of this information.
CEA aisbl Square de Mees 29 B-1000 Brussels Belgium Tel: +32 2 547 58 11 Fax: +32 2 547 58 19 www.cea.eu

European Insurance in Figures

Uploaded by

Document Information

Original Description:

Copyright

Available Formats

Share this document

Share or Embed Document

Sharing Options

Did you find this document useful?

Is this content inappropriate?

Copyright:

Available Formats

European Insurance in Figures

Uploaded by

Copyright:

Available Formats

CEA Statistics N42 European Insurance in Figures November 2010

CEA Statistics European Insurance in Figures

About the CEA