Belgian non-life insurance market forecasts 2024-2028

insurance marketGlobalData is expecting a 4.1% average annual turnover increase for the Belgian non-life insurance market. The premium volume would climb from 14.3 billion EUR (14.7 billion USD) in 2024 to 16.8 billion EUR (17.7 billion USD) in 2028.

The turnover growth would depend on developments in the motor business, which represents 31.3% of the non-life market in 2023.

This activity is followed by the property, personal accident and health (PA&H) classes of business, with respective market shares of 25.7% and 19.9%.

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