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Value of commissions of domestic life insurance companies in Belgium 2006-2018

The total value of commissions of domestic life insurance companies in Belgium increased by roughly 14 percent in 2018. The "life" branch of insurances focuses on life insurances, pensions and funeral in kind insurances and reached a market share of life insurance business in terms of gross premium, the ratio of gross life insurance premium to the total gross premium, of approximately 70 percent in Belgium in 2007. This, however, decreased to approximately 54 percent in 2017. This development coincides with the European Central Bank purchasing assets on credit markets across Europe and, consequently, low interest rates in long-term investments, such as the capital market rate of ten-year government bonds in Belgium. From 2008 onwards, the number of life insurance companies decreased steadily. In 2008, there were approximately 30 companies active on the domestic market with 20 companies by the end of 2017.

Total value of commissions of domestic life insurance companies in Belgium from 2006 to 2018

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Source

Release date

January 2020

Region

Belgium

Survey time period

2006 to 2018

Supplementary notes

The numbers provided concern direct business.

* The source states a statistical break occurred in 2009.

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