CEA: European GWP up 5%
New figures published today by the CEA (the European insurance and reinsurance federation) show a 5% provisional increase in member countries’ gross written premiums for 2010, at current exchange rates.
Initial figures for last year put total premiums at €1,115 billion, up from €1,060 billion in 2009, when premiums remained flat.
Life premiums rose 6% to an estimated €688 billion and non-life premiums were up 4% to €428 billion, having grown for the first time in two years.
Motor insurance, the largest non-life business line, grew just over 3% to €125 billion, while health premiums increased by 7% to €108 billion.
Property premiums were up only slightly at €83 billion.
According to CEA research, European insurers’ total investments rose 7% in 2010, to €7,500 billion, at current exchange rates.
Commenting on the figures, the federation’s director general, Michaela Koller, says: “Today’s figures show that Europe’s insurers have weathered the economic crisis well and that they continue to provide much needed stability and confidence to consumers and to Europe’s economy as a whole.”
The report also details the activities and positions of the CEA on key issues for the insurance industry, including Solvency II, revised accounting standards, anti-discrimination issues and pension reform.
Category: Financials, Insurance News
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