Why Luxembourg
Centrally located in the EU and access to a large talent pool of +11 million inhabitants
Centre of excellence for the distribution of cross-border insurance products in the EU
A responsive dedicated insurance supervisory authority, the CAA
Luxembourg’s political, financial and social stability
Sound legal and regulatory framework compliant with EU Directives
Strong protection for life insurance policyholders
International portability and great flexibility in designing life insurance policies
Access to a wide range of underlying assets and investment vehicles
by the three major credit rating agencies
annual growth rate in Luxembourg averaged 3.6% from 1996 until 2019
financial Centre in the EU and 2nd in sustainability depth
LEADING HUB FOR THE DISTRIBUTION
OF CROSS-BORDER LIFE INSURANCE PRODUCTS IN THE EUROZONE
Life insurance and wealth management are closely linked. One could not manage without the other.
Luxembourg life insurance is a well-known international wealth management tool providing sophisticated solutions to meet the challenges faced by today’s highly mobile “world citizens”. Luxembourg’s multilingual financial ecosystem makes it the perfect spot for the cross-border distribution of life insurance products in the European Union and beyond.
ORIGINS OF LIFE INSURANCE
WRITTEN PREMIUMS
Luxembourg is a major player in the European life insurance market.
Total
Over 25billion euros
35%
France
23%
Italy
6%
Germany
5%
Belgium
8%
Luxembourg
11%
Others EU
12%
Outside EEA countries
An international non-life insurance hub in the heart of Europe
As a result of Brexit, Luxembourg has over the past two years become a major player in the international non-life insurance sector with a number of major international insurers having chosen to establish their post-Brexit EU operations in the Grand-Duchy.
With more than 11 billion euros of direct collected premiums in the international non-life sector, Luxembourg recorded unprecedented growth of +240% in 2019.
LARGEST CAPTIVE REINSURANCE MARKET IN THE EU
Swiss Re had been in Luxemburg with a local reinsurance company since the 1980s. Luxemburg stood out with a mix of convincing factors, including the proximity to an insurance dedicated regulator, the geographic accessibility, the commitment of the country to European values, the political stability and the quality of staff.
Luxembourg is the largest captive reinsurance market in the EU. International companies from all over the world have established around 200 reinsurance undertakings in the Grand-Duchy.
FUTURE CHALLENGES FOR THE INSURANCE INDUSTRY
Technology and digitalisation also mean the emergence of new risks asking for new solutions.
From digitalisation to sustainability, increasing customer expectations and new competitors, the insurance sector stands on the precipice of profound change.
Insurance:
A leading Financial Centre in Europe
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A LEADING FINANCIAL CENTRE IN EUROPE
The Luxembourg financial centre provides a wide range of financial services, acting as a bridge between global investors and markets.
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INSURANCE IN LUXEMBOURG
The insurance sector in Luxembourg has grown hand in hand with Luxembourg’s financial centre, benefiting from its political, economic and fiscal stability and a triple-A rating from all major rating agencies.
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LUXEMBOURG LIFE INSURANCE
Luxembourg is the leading financial centre for the distribution of cross-border life insurance products in the Eurozone.
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LUXEMBOURG NON-LIFE INSURANCE
With more than 11 billion euros of direct collected premiums in the international non-life sector, Luxembourg recorded unprecedented growth of +240% in 2019.
Read More -
LUXEMBOURG REINSURANCE
Luxembourg is the largest captive reinsurance market in the EU. International companies from all over the world have established around 200 reinsurance undertakings in the Grand Duchy.
Read More -
FUTURE CHALLENGES FOR THE INSURANCE INDUSTRY
From digitalisation to sustainability, increasing customer expectations and new competitors, the insurance sector stands on the precipice of profound change.
Read More