The European insurance in 2009

A survey conducted by the Association Européenne des Assureurs (CEA) reported that in 2009, 2570 USD per capita were disbursed by Europeans on insurance products. The European market is made up of 5000 companies which report 40% of the premiums worldwide. The European insurers' turnover amounts to 1056.6 billion EUR (1514.4 billion USD) with a progression of 3% in ten years. Life insurance accounts for 61% of premiums, property damage 29% and health 10%. The insurance turnover represents 8.1% of the European GDP but varies from country to country : 13.3% in the Netherlands versus 1.3% in Turkey. By December 31, 2009, insurance accounts for 6800 billion EUR (9746 billion USD) in terms of investments in the economy. More than 1 million staff members are working in the insurance sector.