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Insurance Intelligence

Providing expert analysis, independent market insight and company data on the insurance industry.

Insurance market reports are produced following a country visit with interviews with professionals working in the sector with systematic updates to information throughout the cycle. Covering market developments, macroeconomic factors and comprehensive details of the regulatory environment including relevant taxation as well as market indicators and company statistics.

Axco’s Luxembourg Non-Life Insurance Market Report (P&C) also comprises a detailed analysis of lines of business and sub-classes such as natural hazards, property, construction and machinery breakdown, motor, workers compensation & employers’ liability and liability.

The Life & Benefits Report for Luxembourg includes detail on social security, healthcare, individual life assurance and pensions information as well as market statistics and life company statistics

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Information for Luxembourg can be seen in:

Insurance Market Reports (Non-Life) Insurance Market Reports (Life & Benefits) Employee Benefits Reports Global Statistics Regulatory Alerts Market Profiles Insight Compliance Insight EB Compliance Point Axco API Clinical Trials

Country Information

Capital city
Real GDP growth (%)
Inflation (%)
latest GWP
Insurance Penetration (%)
GMT +1
0.63 mn
0.63 mn

The Grand Duchy of Luxembourg is a constitutional monarchy bordered by Belgium, France and Germany. It has a land area of 2,586 square kilometres, and almost 48% of its population are foreigners. The services-based economy is dominated by the financial sector.

The domestic non-life market in Luxembourg is relatively small, reflecting the country's size, highly developed and mature and dominated by motor and property, which accounted for 47.1% and 25.0% respectively in 2017.

In 2018, total non-life premium income written in the domestic market, including personal accident and healthcare, was EUR 994.00mn (USD 1.10bn), representing a 2.3% increase over 2017. This grew to EUR1,960 in 2020.

The important captive/reinsurance market achieved premium income of EUR 10.60bn (USD 11.77bn) in 2017. Freedom of services business is also widely written. Captive numbers are reducing as mergers and acquisitions occur across several commercial sectors. The increased compliance burden post Solvency II and the availability of cheap insurance are other key drivers.

In July 2018, the direct non-life insurance market consisted of 49 established operations, of which 40 were Luxembourg-registered companies, nine were branches of foreign companies and three composite insurers.

Agency networks operated by each company control the distribution of insurance products. There are very few local brokers, although three major international brokers have local representation.

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