Market share of leading insurance companies in Belgium 2015-2018

AG Insurance was the largest active company on the Belgian insurance market, reaching a market share of more than 20 percent in 2018. AXA and KBC reached market share of 12 percent and 9.3 percent respectively. When it comes to health insurance, however, the market shares change. ERGO was the concern with the highest market share in Belgium’s private health insurance market in this period.

What is the insurance market size in Belgium?

In 2018, there were 111 insurance companies in Belgium. The biggest insurance branch in Belgium is the "life" branch, which focuses on life insurances, pensions and funeral in kind insurances. This is based on the so-called life insurance market share in terms of gross premium, a ratio which measures whether consumers spend more on life insurance or on non-life insurance. This ratio was approximately 76 percent in Belgium in 2005. This, however, decreased to approximately 54 percent in 2017.

How does health insurance work in Belgium?

In Belgium, all employees and self-employed must register and make contributions to one of five free health insurance funds or “mutualities” (in Dutch: mutualiteit or ziekenfonds, in French: mutuelle). These funds are paid by social benefits and government subsidies, with patients free to choose their own medical professionals and places of treatment. To increase the cover for medical costs, however, Belgian residents can add private supplementary health insurances to their mutuality. For these reasons, Belgium writes less direct premiums for health insurance than the Netherlands (where the contents of basic health insurance are decided by the government but provided and partially funded by private health insurance companies).

Market share of the 15 leading insurance companies in Belgium from 2015 to 2018

You need to log in to download this statistic
Register for free
Already a member?
Log in
Show detailed source information?
Register for free
Already a member?
Log in
Source

Release date

October 2019

Region

Belgium, Europe

Survey time period

2015 to 2018

Special properties

Numbers do not add up to 100 percent, as the source only shows the top 15 insurance companies; The figures have been taken from several publications.

Statista Accounts: Access All Statistics. Starting from $708 / Year
Basic Account
Get to know the platform

You only have access to basic statistics.

Single Account
Your perfect start with Statista
  • Instant access to 1m statistics
  • Download in XLS, PDF & PNG format
  • Detailed references

$59 / Month *

Corporate Account
Full access

Corporate solution including all features.

* All products require an annual contract.
   Prices do not include sales tax.

Statistics on "Insurance in Belgium"

Further Content: You might find this interesting as well

Statista Accounts: Access All Statistics. Starting from $708 / Year
Learn more about how Statista can support your business.