Revenue gross written premiums of insurance companies Luxembourg 2020, by segment

In 2020, life insurance companies in Luxembourg generated revenues of approximately 21 billion euros, the highest of any segment of the country's insurance industry. Total insurance premiums in Luxembourg amounted to just under 47 billion euros in that year.

Luxembourg is an international financial center in the European Union. In the most recent Global Financial Centers Index, Luxembourg was ranked as having the fourth-most competitive financial center in Europe. In recent years, the Grand Duchy made efforts to diversify its financial activities in certain niches such as Chinese and Islamic finance, together with FinTech. Luxembourg's three traditional strengths, however, involve its activities in investment funds, banking and insurance. In addition, the number of domestic companies operating on the insurance market was 98 in 2019.