Personal
Motor and building insurance complaints hit five-year high
Quarterly data from the Financial Ombudsman Service shows that complaints relating to motor and buildings insurance have reached their highest level in five years
Travel insurance predicted to lead growth in personal lines
Data from Smart Money People has revealed that travel insurance is set to grow by 15% over the next year, the highest growth projection of the top ten insurance policies.
PI discount rate consultation closes ahead of 2024 review
The Ministry of Justice’s consultation into establishing a dual/multiple PI discount rate closed yesterday, with the final decision to be made in July 2024.
#29 ASR
Netherlands-domiciled ASR is in 29th place in this year’s Insurance Post Top 30 European Insurers 2023 List after reporting 3.7% average premium growth for the year.
#30 Provinzial
Germany-domiciled Provinzial slips from 28th place in last year’s list to 30th in this year’s Insurance Post Top 30 European Insurers 2023 List after reporting 4.6% average premium growth for the year.
Top 30 European Insurers revealed
Allianz and Axa have held on to the top two spots on Insurance Post's Top 30 European Insurers 2023 list and accounted for slightly under a quarter of total GWP in the dataset, which was produced by AM Best.
#27 Crédit Mutuel
France-domiciled Crédit Mutuel is in 27th place in this year’s Insurance Post Top 30 European Insurers 2023 List after reporting 10.9% average premium growth for the year.
#26 Catalana Occidente
Spain-domiciled Catalana Occidente is in 26th place in this year’s Insurance Post Top 30 European Insurers 2023 List after reporting 10.9% average premium growth for the year.
#25 Ageas
Belgium-domiciled Ageas is in 24th place in this year’s Insurance Post Top 30 European Insurers 2023 List after reporting 1.1% average premium growth for the year.
#22 Huk-Coburg
Germany-domiciled Huk-Coburg is in 22nd place in this year’s Insurance Post Top 30 European Insurers 2023 List for the second year in a row after reporting 3.7% average premium growth for the year.
#19 Helvetia
Switzerland-domiciled Helvetia managed to stay in 19th place in this year’s Insurance Post’s Top 30 European Insurers 2023 List by achieving 10% average premium growth for the year.
#18 Groupama
France-domiciled Groupama fell from 16th place last year to 18th place on this year’s Insurance Post Top 30 European Insurers List after reporting only 6.3% average premium growth for the year.
#17 Sampo
Finland-domiciled Sampo fell from 15th place last year to 17th place on this year’s Insurance Post Top 30 European Insurers List after reporting only 6.4% average premium growth for the year.
#16 Unipol
Italy-domiciled Unipol fell from 14th place last year to 16th place on this year’s Insurance Post Top 30 European Insurers List after reporting only 3.5% average premium growth for the year.
#15 Aéma
France-domiciled Aema Group climbed from 18th on last year’s list to 15th place on this year’s Insurance Post Top 30 European Insurers List after achieving 24.9% average premium growth for the year.
#11 Aviva
Just missing out on making it into the Top 10 of Insurance Post’s Top 30 European Insurers 2023 List was UK-domiciled Aviva, which reported 5.1% average premium growth for the year.
#10 Covéa
France-domiciled Covéa managed to make it into the Top 10 of Insurance Post’s Top 30 European Insurers 2023 List by achieving 20.9% average premium growth for the year.
#9 Mapfre
Spain’s biggest insurer Mapfre achieved ninth place in Insurance Post’s Top 30 European Insurers 2023 List by delivering 12% average premium growth for the year.
#5 Zurich
Switzerland-domiciled Zurich is in fifth place in this year’s Insurance Post’s Top 30 European Insurers 2023 List thanks to reporting 14.6% average premium growth for the year.
#2 Axa
France-domiciled Axa remained in second place in this year’s Insurance Post Top European Insurers 2023 List for the second year in a row.
#1 Allianz
Germany-domiciled Allianz maintained pole position on this year’s Insurance Post Top European Insurers 2023 List for the second year in a row by achieving double digit premium growth.
How Top 30 European Insurers 2023 was produced
On behalf of Insurance Post, AM Best ranked the 30 largest European insurers, according to non-life gross written premium to illustrate the movements in market position and financial performance between 2022 and the previous year.
Top 30 European Insurers 2023: Claims inflation bites
Europe’s 30 largest non-life insurers have demonstrated solid top-line growth over the past two years, following a drop in 2020.
How big data and AI could slash insurance costs
Alex Holdsworth, executive strategy director at Monsterlab, explains how by harnessing the power of big data and AI, insurers can encourage healthier habits to reduce claims and cut costs.