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EU insurers paid out almost 3 billion euro per day in 2018

European insurers paid out €1 069bn in claims and benefits to insureds in 2018. That is equivalent to 2.9bn per day and represents a 3.1% increase on 2017, according to the latest edition of Insurance Europe’s Key Facts booklet, which has just been published.

According to the booklet, which contains preliminary figures for the European insurance market in 2018, life insurers paid out €705bn — a 2.6% increase — in benefits to insureds, providing them with capital and/or annuities. Property and casualty (P&C) claims paid increased by 5.6% to €253bn and health claims paid increased by 4.0% to €111bn.

European direct gross written premiums amounted to €1 311bn in 2018, of which €764bn were life premiums, €407bn were P&C and €140bn were health. Total premiums increased 6.2% on 2017, with life premiums growing 6.7%, P&C 5.7% and health 4.8%.

In addition, European insurers’ investments remained broadly stable, at €10.3 trillion.

Published 2 October 2019