On 30 August, Insurance Europe published a Key Facts documents setting out statistics in relation to the European insurance sector in 2015. Some interesting statistics include: the insurance industry had almost €9,800 billion in investments in 2015 which represented an increase of 1.7% on 2014. Total claims and benefits paid out increased by 2% in 2015 to €976 billion. Life benefits paid out in 2015 were €649 billion which represented an increase of 1.7%, non-life claims amounted to 2.3% which represented an increase of €222 billion and health claims amounted to €101 billion, an increase of 4.3%.
The document sets out helpful graphs and charts illustrating the statistics on a country by country basis. It also provides statistics on various lines of cover – motor, life, health etc.
In the press release announcing the publication of the statistics Insurance Europe’s director general, Michaela Koller, took the opportunity to comment on Solvency II and the limitations that it places on insurers’ ability to invest in the right way on behalf of customers and their ability to provide long term investment and stability to the European economy.