Industry Statistics and Rankings
How does this industry perform in Luxembourg compared to Europe?
Country Benchmarking
Industry Data Luxembourg
Ranking are out of 37 European countries for which IBISWorld provides country-level factsheets.
Revenue
#10 In EuropeBusiness
#7 In EuropeEmployees
#22 In EuropeWages
#12 In EuropeOver the five years through 2024, the insurance industry’s revenue is forecast to edge downwards at a compound annual rate of 1.7%. Bulk annuities have boomed in popularity, fuelled by pension funds de-risking. Performance from the private client or the retail market is mixed and unequal across product segments, with life coverage facing the brunt of lacklustre growth in income as people consider where to save money.
Enterprises
Number of businesses in 2024
Biggest companies in the Insurance in Luxembourg
| Company | Market Share (%)
2024 | Revenue (€m)
2024 | Profit (€m)
2024 | Profit Margin (%)
2024 |
|---|---|---|---|---|
Allianz SE | 168,329.1 | 15,431.5 | 9.2 | |
Assicurazioni Generali | 84,699.6 | 4,211.6 | 5.0 | |
Axa SA | 106,454.8 | 11,131.9 | 10.5 |
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Top Questions Answered in this Report
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What is the market size of the Insurance industry in Luxembourg in 2024?
The market size of the Insurance industry in Luxembourg is €26.9bn in 2024.
How many businesses are there in the Insurance in Luxembourg industry in 2024?
There are 124 businesses in the Insurance industry in Luxembourg, which has declined at a CAGR of 0.0 % between 2019 and 2024.
Has the Insurance industry in Luxembourg grown or declined over the past 5 years?
The market size of the Insurance industry in Luxembourg has been declining at a CAGR of 0.0 % between 2019 and 2024.
What is the forecast growth of the Insurance industry in Luxembourg over the next 5 years?
Over the next five years, the Insurance industry in Luxembourg is expected to grow.
What are the biggest companies in the Insurance market in Luxembourg?
The biggest companies operating in the Insurance market in Luxembourg are Allianz SE, Assicurazioni Generali and Axa SA
What does the Insurance in Luxembourg include?
Motor vehicle insurance and Property and casualty insurance are part of the Insurance industry.
Which companies have the highest market share in the Insurance in Luxembourg?
The company holding the most market share in Luxembourg is Allianz SE.
How competitive is the Insurance industry in Luxembourg?
The level of competition is low and decreasing in the Insurance industry in Luxembourg.
Related Industries
This industry is covered in 37 countries
Domestic industries
Competitors
Complementors
- Reinsurance in Luxembourg
- Pension Funding in Luxembourg
Table of Contents
About this industry
Industry definition
Businesses in the industry underwrite insurance policies relating to property, casualty, liability and other general risks and life products. The premiums they earn from this are then invested to generate additional income.
Related Terms
Premiums IncomeUnderwritingInvestment IncomeWhat's included in this industry?
Motor vehicle insuranceProperty and casualty insuranceAccident and health insurancePecuniary loss insuranceGeneral liability insuranceHome-foreign risk insuranceMarine, aviation and transport insuranceLife insuranceAnnuities (bulk and individual)Disability and long-term insuranceCompanies
Allianz SEAssicurazioni GeneraliAxa SAIndustry Code
651 - Insurance in Luxembourg
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Performance
Revenue Highlights
Trends
- Revenue
- Current Year Revenue Growth
- Revenue Volatility
Employment Highlights
Trends
- Employees
- Employees per Business
- Revenue per Employee
Business Highlights
Trends
- Businesses
- Employees per Business
- Revenue per Business
Profit Highlights
Trends
- Total Profit
- Profit Margin
- Profit per Business
Current Performance
Charts
- Revenue
- Employees
- Business
- Profit
Analysis
What's driving current industry performance in the Insurance in Luxembourg industry?
Outlook
Analysis
What's driving the Insurance in Luxembourg industry outlook?
Volatility
Analysis
What influences volatility in the Insurance in Luxembourg industry?
Charts
- Industry Volatility vs. Revenue Growth Matrix
Life Cycle
Analysis
What determines the industry life cycle stage in the Insurance in Luxembourg industry?
Charts
- Industry Life Cycle Matrix
Products and Markets
Highlights
Trends
- Largest Market
- Product Innovation
Key Takeaways
Demand for cyber and specialist insurance surges amid digitisation and geopolitical conflict. Companies are increasingly investing in these specialised policies as they go digital, the threat of cyber-attacks grows more complex, and geopolitical conflicts become more prevalent.
Products and Services
Charts
- Products and Services Segmentation
Analysis
How are the Insurance in Luxembourg industry's products and services performing?
Analysis
What are innovations in the Insurance in Luxembourg industry's products and services?
Major Markets
Charts
- Major Market Segmentation
Analysis
What influences demand in the Insurance in Luxembourg industry?
International Trade
Highlights
- Total Imports into Luxembourg
- Total Exports into Luxembourg
Heat maps
- Industry Concentration of Imports by Country
- Industry Concentration of Exports by Country
Data Tables
Value and annual change (%) included
- Number of Imports and Exports by European Country (2024)
Competitive Forces
Highlights
Trends
- Concentration
- Competition
- Barriers to Entry
- Substitutes
- Buyer Power
- Supplier Power
Key Takeaways
Market diversity keeps market share concentration low. Europe has a breadth of different regulatory frameworks, languages, cultures and social norms. This diversity makes it challenging for insurers to dominate the market.
Supply Chain
Charts
Buyer and supply industries
Geographic Breakdown
Business Locations
Heat maps
- Share of Total Industry Establishments by Region (2024)
Data Tables
- Number of Establishments by Region (2024)
Charts
- Share of Establishments vs. Population of Each Region
Analysis
What regions are businesses in the Insurance in Luxembourg located?
Companies
Data Tables
Top 10 companies by market share:
- Market share (2024)
- Revenue (2024)
- Profit (2024)
- Profit margin (2024)
External Environment
Highlights
Trends
- Regulation & Policy
- Assistance
Key Takeaways
The EIOPA is urging regulatory bodies to focus on good consumer practices. This has stemmed from an investigation into price-walking when a company continuously raises prices at renewal, which usually occurs once a year for non-life insurance customers.
External Drivers
Analysis
What demographic and macroeconomic factors impact the Insurance in Luxembourg industry?
Financial Benchmarks
Highlights
Trends
- Profit Margin
- Average Wage
- Largest Cost
Key Takeaways
Policy payments account for the bulk of income. Insurance offers financial protection in the event of damage, loss or death. Payments are made when a policy is discontinued. Direct claims take up the largest share of payments.
Cost Structure
Charts
- Share of Economy vs. Investment Matrix
-
Industry Cost Structure Benchmarks:
- Marketing
- Depreciation
- Profit
- Purchases
- Wages
- Rent
- Utilities
- Other
Analysis
What trends impact cost in the Insurance in Luxembourg industry?
Key Ratios
Data tables
- IVA/Revenue (2014-2029)
- Imports/Demand (2014-2029)
- Exports/Revenue (2014-2029)
- Revenue per Employee (2014-2029)
- Wages/Revenue (2014-2029)
- Employees per Establishment (2014-2029)
- Average Wage (2014-2029)
Country Benchmarks
European Leaders & Laggards
Data Tables
Top and boottom five countries listed for each:
- Revenue Growth (2024)
- Business Growth (2024)
- Job Growth (2024)
European Country Performance
Data Tables
Rankings available for 37 countries. Statistics ranked include:
- IVA/Revenue (2024)
- Imports/Demand (2024)
- Exports/Revenue (2024)
- Revenue per Employee (2024)
- Wages/Revenue (2024)
- Employees per Establishment (2024)
- Average Wage (2024)
Structural Comparison
Data Tables
Trends in 37 countries benchmarked against trends in Europe
- Concentration
- Competition
- Barriers to Entry
- Buyer Power
- Supplier Power
- Volatility
- Capital Intensity
- Innovation
- Life Cycle
Key Statistics
Industry Data
Data Tables
Including values and annual change:
- Revenue (2014-2029)
- IVA (2014-2029)
- Establishments (2014-2029)
- Enterprises (2014-2029)
- Employment (2014-2029)
- Exports (2014-2029)
- Imports (2014-2029)
- Wages (2014-2029)
Methodology
Where does IBISWorld source its data?
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