Largest European Insurers
According to data and analysis from global rating agency A.M. Best, compiled by Beinsure Media, the largest European insurers in 2025 were ranked based on gross premiums written and capital strength.
Europe hosts more than 9,000 insurance companies, though only around 300 are domestically headquartered. The industry remains a cornerstone of the European economy, providing financial protection for individuals, businesses, and governments alike.
Each year, European insurers pay out over €1 trillion in claims — equivalent to nearly €2.8 billion per day — and collectively employ more than 920,000 people across the continent.
Top 30 European Insurance Companies
The European insurance landscape is dominated by global leaders such as Allianz, AXA, Assicurazioni Generali, and Zurich Insurance Group, alongside a wide range of regional and niche players. The largest national markets are Germany, the United Kingdom, France, Italy, and Switzerland.
Top 30 Insurers by Gross Premiums Written
In total, the top 30 insurers generated over $1.1 trillion in gross premiums.
Gross Premiums by Country (USD millions):
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France: 388,878
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Germany: 248,232
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Italy: 103,894
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Switzerland: 174,005
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United Kingdom: 119,011
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Spain: 26,202
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Netherlands: 51,281
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Austria: 13,410
Life insurance markets in France and Germany are poised to benefit most from rising interest rates, as these markets hold large portfolios of traditional life products with mismatched asset and liability durations.
Germany also leads the region in motor insurance claims, paying out approximately €25 billion annually.
Top 30 European Insurers by Capital & Surplus (USD millions):
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Allianz – 54,960
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Chubb – 50,519
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Lloyd’s – 47,766
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AXA – 42,334
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Zurich Insurance Group – 26,635
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Munich Re – 22,489
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Covéa – 19,599
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NN Group – 18,972
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CNP Assurances – 18,280
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Generali – 17,298
(...down to BPCE Assurances – 2,133)
Total capital and surplus across the top 30: $482.9 billion.
This ranking underscores the financial resilience and capitalization strength of Europe’s leading insurers.
Top 30 Insurers by Profit (2025)
(Measured by profit after tax, USD billions)
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Allianz – 7.67
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AXA – 7.32
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Chubb – 5.25
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Zurich Insurance Group – 4.92
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Munich Re – 3.65
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Generali – 3.40
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Legal & General – 2.76
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HDI – 2.67
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CNP Assurances – 2.41
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Crédit Agricole Assurances – 1.87
(...down to Prudential – -0.01)
Despite headwinds from inflation and intense market competition, most leading insurers delivered solid profitability. However, a few — including Aviva, Lloyd’s, and SCOR SE — reported net losses.
Market Dynamics and Regulation
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Inflationary Pressures: Non-life insurers, especially those in long-tail segments, face rising claims costs that may create reserve challenges.
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Solvency II Compliance: Insurers must meet Minimum Capital Requirements (MCR) and Solvency Capital Requirements (SCR) to maintain financial stability and protect policyholders.
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Germany currently reports the highest SCR ratio in Europe, while the UK lags behind.
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Key Profitability Metrics:
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Combined Ratio = (Claims + Expenses) ÷ Premiums → Above 1 indicates underwriting losses.
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Expense Ratio = Expenses ÷ Premiums → Reflects operational efficiency.
Emerging Trends Shaping the European Insurance Market
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Digital Transformation:
Insurers are increasingly leveraging AI, blockchain, and IoT technologies to enhance underwriting, claims processing, and customer engagement. -
ESG Integration:
Environmental, Social, and Governance (ESG) principles are reshaping investment strategies and corporate decision-making across the sector.
Motor Insurance:
A foundational segment of the European market, with total annual premiums surpassing €100 billion