Insurance Europet, the European (re)insurance federation, has published the market figures for the year 2017. The latter reported a turnover of 1 213 billion EUR (1 453 billion USD) in 2017, increasing by 3.2% over one year.
Life insurance which accounted for 58% of the total premiums, rose by 3.4% in 2017 at 710 billion EUR (850 billion USD).
Non-life insurance whose annual growth was of just 2.7%, recorded 371 billion EUR only, that is 31% of the overall premiums. The remaining premiums related to health insurance with 132 billion EUR (158 billion USD) and a growth rate of 3.1%.
Claims and benefits paid in 2017 were valued at 1 14 billion EUR (1 215 billion USD), an increase of 7.3% in comparison with 2016.
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