Netherlands General Insurance Market Size and Trends by Line of Business, Distribution, Competitive Landscape and Forecast to 2027
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Netherlands General Insurance Market Report Overview
The gross written premium of the Netherlands general insurance market was EUR66.5 billion ($70 billion) in 2022 and is expected to achieve a CAGR of more than 5% during 2023-2027. The Netherlands general insurance market research report provides in-depth market analysis, including insights into the lines of business in the country’s general insurance industry. Furthermore, the report provides a detailed outlook by product category as well as values for key performance indicators, including gross written premium, penetration, and premium ceded and cession rates for the review and forecast periods.
Netherlands General Insurance Market Outlook, 2022-2027 (EUR Billion)
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The Netherlands general insurance market report also analyzes distribution channels operating in the segment and gives a comprehensive overview of the Dutch economy and demographics. It further evaluates the competitive landscape in the country, which entails segment dynamics, competitive advantages, and profiles of insurers operating in the country. Moreover, it includes details of insurance regulations and recent changes in the regulatory structure.
Market Size (2022) | EUR66.5 billion ($70 billion) |
CAGR (2023-2027) | >5% |
Forecast Period | 2023-2027 |
Historical Period | 2018-2023 |
Key Lines of Business | · Property
· Motor · Liability · Financial Lines · MAT · General Insurance PA&H · Miscellaneous |
Key Distribution Channels | · Direct from Insurers
· Banks · Insurance Brokers · Financial Advisors · Online Aggregators |
Leading Companies | · Zilveren
· VGZ · CZ · Menzis · Achmea |
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Netherlands General Insurance Market Trends
Inflation, digital initiatives, digital healthcare, and personalization are a few of the recurring trends in the Netherlands general insurance market.
- The cost of repairs, replacement goods, and medical expenses are all rising, resulting in increasing costs of claims for insurers. Hence, insurers must pay more money to policyholders when they make claims. Moreover, inflation is also impacting insurers’ investment returns.
- The development of AI and data analytics has allowed insurers to offer policies that are tailored to the needs of specific customers. Customers are looking for non-life insurance products that are tailored to their specific lifestyles. The non-life insurance industry has undergone a paradigm shift from being a product-centric to a customer-centric business due to the availability of digital insurance products and new ways to purchase these products.
Netherlands General Insurance Market Segmentation by Lines of Business
General insurance PA&H was the leading general insurance line of business in 2022
The key lines of business in the Netherlands general insurance industry are property, motor, liability, financial lines, MAT, general insurance PA&H, and miscellaneous. A new flood insurance scheme will be launched in 2025. The insurance is expected to provide a sustainable insurance model for floods and will be mandatory for all homeowners in the Netherlands. The new scheme will cover all types of flood damage, regardless of whether it is caused by a breach of primary flood defenses.
Netherlands General Insurance Market Analysis by Lines of Business, 2022 (%)
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Netherlands General Insurance Market Segmentation by Distribution Channels
Direct from insurers was the most preferred channel for purchasing home building and contents insurance and motor insurance in 2023
A few of the key distribution channels in the Netherlands general insurance industry are direct from insurers, banks, insurance brokers, online aggregators, and financial advisors, among others. Banks was the second-most-preferred channel for home insurance products while insurance brokers held the second place for motor insurance.
Netherlands General Insurance Market Analysis by Distribution Channels, 2023 (%)
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Netherlands General Insurance Market - Competitive Landscape
Zilveren was the largest general insurer in 2022
A few of the leading general insurance companies in the Netherlands are:
- Zilveren
- VGZ
- CZ
- Menzis
- Achmea
CZ Zorgverzekeringen was the fastest-growing insurer among the general insurers. Domestic insurers dominated the Dutch general insurance sector.
Netherlands General Insurance Market Analysis by Companies, 2022 (%)
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Netherlands General Insurance Market - Latest Developments
- On October 4, 2023, the Authority for the Financial Markets (AFM) issued the sustainability claims guidelines that aim to provide financial companies and pension providers with tools for making accurate, clear, and non-misleading sustainability (ESG) claims.
- On September 27, 2023, the Dutch Central Bank (De Nederlandsche Bank; DNB) announced its approach to the legal requirement for the submission of the Regular Supervisory Report (RSR) and its proportional application.
Segments Covered in the Report
Netherlands General Insurance Lines of Business Outlook (Value, EUR Billion, 2018-2027)
- Property
- Motor
- Liability
- Financial Lines
- MAT
- General Insurance PA&H
- Miscellaneous
Netherlands General Insurance Distribution Channels Outlook (Value, EUR Billion, 2018-2027)
- Direct from Insurers
- Banks
- Insurance Brokers
- Financial Advisors
- Online Aggregators
Scope
This report provides:
- A comprehensive analysis of the general insurance segment in the Netherlands.
- Historical values for the Netherlands general insurance segment for the report’s review period and projected figures for the forecast period.
- Profiles of the top general insurance companies in the Netherlands and outlines the key regulations affecting them.
Key Highlights
- Key insights and dynamics of the Netherlands’ general insurance segment.
- A comprehensive overview of the Netherlands’ economy, government initiatives, and investment opportunities.
- The Netherlands’ insurance regulatory framework’s evolution, key facts, taxation regime, licensing, and capital requirements.
- The Netherlands’ general insurance industry’s market structure giving details of lines of business.
- The Netherlands’ general reinsurance business’ market structure giving details of premium ceded along with cession rates.
- Distribution channels deployed by the Netherlands’ general insurers.
- Details of the competitive landscape and competitors’ profiles.
Reasons to Buy
- Make strategic business decisions using in-depth historical and forecast market data related to the Netherlands’ general insurance segment.
- Understand the demand-side dynamics, key market trends, and growth opportunities in the Netherlands’ general insurance segment.
- Assess the competitive dynamics in the general insurance segment.
- Identify growth opportunities and market dynamics in key product categories.
Achmea
VGZ
NV Unive Zorg
CZ Zorgverzekeringen NV
Travelers Group
Menzis Zorgverzekeraar NV
ASR Schadeverzekering
Table of Contents
Frequently asked questions
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What was the Netherlands general insurance market gross written premium in 2022?
The gross written premium of the Netherlands general insurance market was EUR66.5 billion ($70 billion) in 2022.
-
What will the Netherlands general insurance market growth rate be during the forecast period?
The general insurance market in the Netherlands is expected to achieve a CAGR of more than 5% during 2023-2027.
-
Which line of business held the largest share of the Netherlands general insurance market in 2022?
General insurance PA&H held the largest share of the Netherlands general insurance market in 2022.
-
Which distribution channel held the highest share in the Netherlands homeowners insurance and motor insurance market in 2023?
Direct from insurers was the leading channel for purchasing home building and contents insurance and motor insurance in 2023.
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Which are the key companies operating in the Netherlands general insurance market?
A few of the leading general insurance companies in the Netherlands are Zilveren, VGZ, CZ, Menzis, and Achmea.
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