Belgium: biggest travel insurance companies

In 2021, IPA - who are part of broader insurance group AXA - had a market share of just over 20 percent in the Belgian travel insurance market, named "Hulpverlening" (in Flemish Dutch) or "Assistance" (in French). Travel insurance in Belgium is part of a much larger branch: BOAR (an abbreviation of Brand, Ongevallen en Allerlei Risico's in Flemish Dutch) or IARD (Incendie, Accidents et Risques Divers in French). This is a collection of many different insurances, such as car or any motor vehicle insurance, home contents insurance and occupational disability insurance. When it comes to insurance overall, AG Insurance was the largest active company on the Belgian insurance market. This company reached an overall market share of around 21.4 percent in 2020. AXA and KBC reached market shares of 12 percent and 10 percent respectively.

Market share of travel insurance companies in Belgium from 2017 to 2021

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Release date

September 2022

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Region

Belgium, Europe

Survey time period

2017 to 2021

Supplementary notes

Only the top 15 companies are provided by the source for each year, so numbers do not total 100 percent and some values are missing for some years.

The numbers provided are on "individual enterprises", instead of "economic groups". This matters in the case of, for example, AXA, as this group has two enterprises that offer travel insurance.

Data prior to 2020 taken from previous reports.

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