The total amount of insurance premiums in Europe rose by 2% to 1.21 bln. euros, compared with 4% growth in 2016 (1.16 trillion. euros), but it is 32% of the global insurance market in the world. In health insurance, European insurers in 2016, received 733 million euros (+ 1.5%), health insurance 127 million euros (+ 3.5%) in risk insurance 347 million euros (+ 2.4%) .
Despite the unfavorable economic situation in the world, European insurers have paid 975 billion euros (+ 1.6%) or 2.7 billion euros per day.
3600 insurance companies are running the European insurance market, and 985 thousand are involved in health insurance field.
During 2006-2016, the European insurance premiums increased by 11.7%. Global award in the world in 2016 increased by 3.8% to 4.1 trillion euro after 3.5% growth in 2015.
In addition, European insurers have become the largest institutional investors in Europe, investing more than 9.9 trillion euro to the EU economy.
The total economic damage from natural and man-made disasters in 2016 is estimated at $158 billion. This is significantly higher than the loss in 2015 of $94 billion, which were caused by large-scale natural disasters.
Insured losses in 2016 reached $49 billion, exceeding the previous year’s level of $37 billion, according to a study of the company Swiss Re.
The gap between the level of actual economic losses and insured losses in 2016 shows that major catastrophic events occurred in regions where coverage was low. More than 50% of losses are not insured in the US and Europe, and in underdeveloped countries less than 5%, for which the state pays, but people are suffering.