
Revenue of insurance companies on domestic market Luxembourg 2021, by segment
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. Furthermore, the number of domestic companies operating on the insurance market was 98 in 2019.