It's time for Europe to harness the full potential of insurance

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<title>It's time for Europe to harness the full potential of insurance</title>
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<dateIssued>2025</dateIssued>
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<abstract displayLabel="Summary">The European insurance sector is a significant contributor to Europe's economic growth, and it also plays a crucial role in protecting people and businesses and their assets. Despite the series of crises the world has faced over the past years, the European insurance sector has remained robust, demonstrating its ability to protect consumers and to maintain a global leadership position. European insurers employ more than 920 000 people, manage 9.5 trillion in assets, of which around 70% is invested in the European Union. In 2023, the European insurance sector paid out over 1 000 billion in claims, equivalent to 2.8 billion a day</abstract>
<note>Statement published ahead of the 15th International Conference by Frédéric de Courtois, president of Insurance Europe, Alexander Sarrigeorgiou, vice-president of Insurance Europe and Thea Utoft Høj Jensen, director general of Insurance Europe</note>
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