Market Regulation: Oversight is provided by Finansinspektionen. Axco’s regulatory monitoring focuses on the "Mortgage-Insurance" link and 2026 ESG reporting requirements.
Non-Life Market Trends: The market is characterized by powerful Mutuals; Axco’s data identifies strong growth in the private health and pet insurance segments for 2026.
Distribution Channels: Distribution features a mix of direct writers and agents; Axco analysis highlights the key role brokers play in the Swedish mid-to-large corporate market.
Key Risks & Outlook: The market is generally stable; however, Axco’s outlook identifies increasing forest fire risk in Central Sweden as a factor altering property underwriting standards.
Insurance companies: Axco Navigator details that there are 171 non-life insurers, including around 70 or so operating nationwide, over 30 captives and a similar number of larger local insurers. The life/pension insurance industry comprised of 28 life companies.
Insurance Statistics: Axco reports written premiums in 2024 increased by 5.4% to SEK 95,161 Mn with property the largest class of business, accounting for 49% of premiums. Insurance penetration stands at 1.49%.
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 Sweden 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 Sweden includes detail on social security, healthcare, individual life assurance and pensions information as well as market statistics and life company statistics
Key Benefits
Insurance Market Reports (Non-Life)
Insurance Market Reports (Life & Benefits)
Employee Benefits Reports
Market Profiles
Regulatory Alerts
Insight
Insight EB
Compliance Point
Clinical Trials
Axco API
| Time-zone Capital city Currency Population Real GDP growth (%) Inflation (%) latest GWP Insurance Penetration (%) |
GMT +1 Stockholm SEK 10.10 mn 514,757.65 mn 1.59% 40,042.52 (mn) 7.54 |
Sweden is a Scandinavian country, mostly covered in forest and lakes. Economic growth was expected to equal 1.04% in 2020 with inflation averaging 1.59% over the same period. The Swedish economy depends heavily on trade and has a well-developed and internationally successful industrial sector.
Sweden joined the European Union in 1995 and has not yet adopted the euro.
Total premium income in 2018 reported by non-life insurance companies was SEK 84.17bn (USD 8.67bn), of which a substantial proportion of around 40% related to foreign risks underwritten in Sweden.
In 2018 there were 77 Swedish non-life insurers, including about 35 captives, and about 40 larger local insurers; in addition there were around 40 foreign insurers, branches and agencies. The market is dominated by large groups.
