TOP 100 European insurers
Wide gap between largest and smallest group
Press release ICODA top 100 insurers – EN final – in pdf
TOP 100 European insurers: wide gap between largest and smallest group
ICODA European Affairs announces today its 2008 European insurance groups ranking. Lieve Lowet, partner at ICODA, who was in charge of the research, draws some first conclusions:
the difference between the largest and the smallest groups is important: the top group has total direct premium income 50 times the smallest one;
the cut-off premium income is still under 2 billion euro;
about half of the groups originate from 3 countries;
insurers from new member states barely make their appearance;
about 20% of the top 100 is active only in life or only in non-life;
about 20% is owned by a bank.
“The exercise was far more difficult than expected”, comments Lieve Lowet. As there are different accounting practices used, she opted for reinsertion of the insurance deposits which were not always easy to find, despite many pages of notes. There were also other difficulties in researching the rather straightforward figure of insurance ‘turnover’ for an insurance business. “Therefore”, continues Lieve Lowet, “we decided to give each group a rating based on how easy it was to unearth this key data. Often we had to e-mail investor relations to help us.”
She calls on policymakers to focus transparency demands on making key financial figures unambiguous, comparable and straightforward.
The ranking is on a best effort basis. It ranks the European insurers by worldwide gross direct insurance premiums written, excluding reinsurance accepted and excluding reinsurance groups.
For more information, contact ICODA European Affairs:
firstname.lastname@example.org or at +32 477 53 00 80
ICODA European Affairs was founded in Brussels in 1991 and offers a broad range of companies, trade associations, interest groups and others, first-hand knowledge and expertise in EU decision-making, EU legislation and EU policy. Lieve Lowet joined the office in April 2008 and focuses on the financial services sector.