5 Fascinating Facts about Insurance in Europe

Europe Insurance

After the excitement of our Americas Meeting in Miami earlier this month, we move to Hamburg for our European Meeting.  Kindly hosted by one of our newest affiliates, Gossler, Gobert and Wolters (GGW), we’re really looking forward to uniting partners and affiliates from across Europe and beyond in the City that has more bridges than Venice, Amsterdam and London put together!

Before heading to Germany, make sure you familiarise yourself with some interesting facts about insurance in Germany and wider Europe!

1. The European insurance market is the largest in the world, accounting for approximately 35% of global insurance premiums.

2. Germany is the largest insurance market in Europe, with approximately 459 insurance companies operating in the country, it is the third largest in the world behind the US and Japan.

3. GGW, our Germany affiliate, is the oldest broker in continental Europe… it’s fantastic to have that kind of heritage in our network!

4. Unlike many countries, Health Insurance is compulsory in Germany if you live and work there.  Other mandatory covers include liability insurance for drivers, and homeowners insurance for those who own property.

5. Around a third of all internationally active insurance groups are headquartered in the EU, and Europe is the global leader in reinsurance, writing around half of the world’s reinsurance business.