Main figures of the Belgian insurance market in 2020

Like every year, Assuralia gathers the main figures of the Belgian insurance market. What are the main figures of 2020?

2020 was a very special year: the world looked for a way out of the coronavirus pandemic, people have been unable to leave their homes for a long time and many sectors have suffered from the forced suspension of their activities. The Belgian insurance sector has held out against the coronavirus test. That results in a solvency ratio of 2 percent higher than last year. Its level is almost twice as high as required by the law. In conclusion, the sector was even more armed than the law requires to deal with the historic floods of 2021 (even if the impacts of this drama will only manifest in next year’s numbers).

Here’s the ranking of the insurance companies on the Belgian market by market shares.

Some figures : 

  • Total premiums (24.899 billion euros in 2020) down 2.3% (-4.8% in life, -2.3% in non-life).
  • The cost/collection ratio is 25.2% (10.7% commissions, 7% personnel costs, 7.5% other operating costs).
  • The net result in 2020 decreased from 2.46 billion euros (in 2019) to 1.81 billion euros.

 

 

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