TOP 30 Largest Insurance Companies in Europe 2025

Largest European Insurers — 2025 were ranked by gross premiums written and capital is based on global rating agency A.M. Best data and research, analized by Beinsure Media.

There were more than 9,000 insurance companies operating in Europe. In terms of domestic companies, only around 300 companies were operating inside Europe.

The European insurance industry is a significant contributor to the region’s economy, providing financial protection to individuals, businesses, and governments against various risks.

According to Insurance Europe, every year, European insurers pay out an impressive amount of over €1,000 bn in claims, which translates to approximately €2.8 bn per day. They also play a significant role in the job market, as they employ over 920,000 people.

The European insurance industry is dominated by a few large multinational companies, such as Allianz, AXA, Assicurazioni Generali, and Zurich Insurance Group, but there are also many smaller regional or niche insurers operating in the market. The largest insurance markets in Europe are Germany, the United Kingdom, France, Italy, and Switzerland.

TOP 30 European Insurance Companies by Gross Premiums Written

Ranking the largest insurance companies and groups by gross premiums written, along with their respective countries. Top 30 insurers’ premiums totaled $1.1 trillion.

№	Insurance Company / Group	Countries	Gross Premiums, $mn
1	AXA	France	106,147
2	Allianz	Germany	100,569
3	Assicurazioni Generali	Italy	85,169
4	Munich Reins Co	Germany	71,679
5	Zurich Ins Group	Switzerland	58,848
6	Lloyd’s	United Kingdom	56,334
7	HDI	Germany	56,053
8	Chubb	Switzerland	51,978
9	Swiss Re	Switzerland	47,889
10	CNP Assurances	France	38,491
11	Crédit Agricole Assurances	France	37,720
12	BNP Paribas Cardif	France	26,983
13	MAPFRE	Spain	26,202
14	Société de Groupe d’Assur Mut Covéa	France	23,511
15	Prudential	United Kingdom	23,344
16	Aviva	United Kingdom	22,819
17	Achmea	Netherlands	22,516
18	SCOR SE	France	21,068
19	R+V Versicherung	Germany	19,931
20	Poste Italiane	Italy	18,725
21	Aéma Groupe	France	17,223
22	Groupama Assurances Mutuelles	France	16,785
23	Legal & Gen Group	United Kingdom	16,514
24	Sogécap	France	15,778
25	Swiss Life Hldg	Switzerland	15,290
26	BPCE Assurances	France	14,990
27	NN Group N.V.	Netherlands	14,565
28	Coöperatie VGZ U.A.	Netherlands	14,200
29	Groupe des Assurances du Crédit Mutuel	France	14,182
30	VIENNA INSURANCE GROUP	Austria	13,410
	TOTAL		1,068,913

This table ranks the top 30 insurersance companies/groups based on their gross premiums, providing a clear view of the market size and geographical distribution of these leading insurers.

Insurers in Europe by premiums

A bar chart illustrating the insurance companies by their gross premiums written. Each bar represents a different insurance company or group, with the length of the bar indicating the scale of their gross premiums.

Gross Premiums by Country

Country	Gross Premiums ($mn)
France	388,878
Germany	248,232
Italy	103,894
Switzerland	174,005
United Kingdom	119,011
Spain	26,202
Netherlands	51,281
Austria	13,410

Life insurance sectors that have significant holdings of traditional life policies supported by assets with shorter durations compared to their liabilities would benefit from rising interest rates. This is particularly true for the French and German life sectors.

At that time, Germany had the highest value of total motor claims expenditure paid on the insurance market in Europe, with claims paid amounting to about 25 bn euros.

TOP 30 European Insurance Companies by Capital

№	Insurance Company / Group	Capital & Surplus, $ mn
1	Allianz	54,960
2	Chubb	50,519
3	Lloyd’s	47,766
4	AXA	42,334
5	Zurich Ins Group	26,635
6	Munich Reins Co	22,489
7	Société de Groupe d’Assur Mut Covéa	19,599
8	NN Group N.V.	18,972
9	CNP Assurances	18,280
10	Assicurazioni Generali	17,298
11	Prudential	16,960
12	Aviva	15,180
13	Legal & Gen Group	14,677
14	Swiss Re	12,699
15	Swiss Life Hldg	11,007
16	Achmea	9,904
17	Groupe des Assurances du Crédit Mutuel	9,616
18	Poste Italiane	9,495
19	HDI V.a.G.	8,962
20	Crédit Agricole Assurances	8,653
21	Groupama Assurances Mutuelles	8,009
22	MAPFRE	7,783
23	Aéma Groupe	5,480
24	SCOR SE	5,444
25	VIENNA INSURANCE GROUP	4,510
26	R+V Versicherung	4,356
27	BNP Paribas Cardif	3,435
28	Sogécap	3,130
29	Coöperatie VGZ U.A.	2,620
30	BPCE Assurances	2,133
	TOTAL	482,905

Insurers in Europe by capital & surplus

A bar chart showing the insurance companies ranked by capital & surplus. Each bar represents a different insurance company or group, with the length of the bar indicating the size of their capital & surplus.

This chart offers a visual comparison of the financial strength and stability of these insurance companies as indicated by their capital and surplus amounts.

Insurance companies in Europe are increasingly using digital technologies such as artificial intelligence (AI), blockchain, and the Internet of Things (IoT) to improve their products, services, and operations.

The European insurance industry is focused on integrating ESG factors into its operations and investment decisions aimed towards expansion.

Home to one of the world’s leading insurance markets, Europe’s motor insurance industry is also quite extensive. Total motor premiums written on the European insurance market amounted to a value of over 100 bn euros.

TOP 30 Insurers in Europe by profit in 2025

№	Insurance Company / Group	Profit / Loss after tax, $ bn
1	Allianz	7.668
2	AXA	7.320
3	Chubb	5.246
4	Zurich Ins Group	4.923
5	Munich Reins	3.651
6	Assicurazioni Generali	3.405
7	Legal & Gen Group	2.762
8	HDI	2.671
9	CNP Assurances	2.415
10	Crédit Agricole Assurances	1.878
11	NN Group N.V.	1.672
12	Poste Italiane	1.613
13	Swiss Life Hldg	1.576
14	Aviva	-1.374
15	MAPFRE	1.157
16	Lloyd’s	-0.928
17	Groupe des Assurances du Crédit Mutuel	0.900
18	Société de Groupe d’Assur Mut Covéa	0.719
19	BNP Paribas Cardif	0.713
20	Sogécap	0.628
21	VIENNA INSURANCE GROUP	0.496
22	Groupama Assurances Mutuelles	0.485
23	Swiss Re	0.480
24	BPCE Assurances	0.344
25	SCOR SE	-0.322
26	R+V Versicherung AG	-0.263
27	Coöperatie VGZ U.A.	-0.209
28	Achmea B.V.	0.112
29	Aéma Groupe	0.055
30	Prudential	-0.011

This table ranks the top 30 insurance companies/groups based on their profit or loss after tax, providing a clear view of the financial performance of these leading insurers in 2025.

TOP 20 Insurers in Europe by profit

According to Fitch, the non-life insurance sectors would be most vulnerable to the effects of high inflation, especially those with a significant portion of the long-tail business. The rising claims inflation could result in reserve shortfalls.

Additionally, in markets where there is an intense competition or societal pressure that restricts insurers’ ability to increase prices, high inflation could lead to margin constraints for short-tail businesses.

Total number of companies on the European insurance market

Market penetration refers to the ratio of insurance premiums to GDP. Penetration on the European domestic insurance market generally increased between 2004 and 2023 albeit with some fluctuation. The ratio is used as an indicator of insurance sector development, and it peaked at 9.5% after 6 years of annual growth. The premiums ratio to GDP on the European market fell to 6.8%.

Total premiums to GDP ratio as insurance penetration measure on the domestic market in Europe

According to the European Insurance and occupational Pensions Authority (EIOPA) “Insurance undertakings are required by the Solvency II regulation to hold a certain amount of capital of sufficient quality in addition to the assets they hold to cover the contractual obligations towards policyholders.

The amount of capital (called eligible own funds) required is defined by the Minimum Capital Requirement (MCR) and the Solvency Capital Requirement (SCR), which depend on the risks to which the undertaking is exposed.”

Solvency Capital Requirement (SCR) ratio of insurance markets in Europe

The German insurance industry had Solvency Capital Requirement (SCR) ratio of three. The United Kingdom (UK), which was the largest insurance market in Europe, had a SCR ratio of around half of that of the German insurance sector. In addition to the SCR ratio, insurers must also calculate minimum capital requirement (MCR).

The MRC is essentially a tipping point in which, if an insurer falls below, the authorization of an insurer could be withdrawn.

The combined ratio, which is the sum of claims and expenses incurred divided by premiums earned, is a measure of profitability used by insurance companies to see how efficiently they are running their business. The combined ratio can be displayed as a measure of 1 or as a percentage of 100.

Insurance markets with a ratio of over 1 means that companies are paying out more in claims than they are receiving through premiums earned. The expense ratio is another measure of profitability and is calculated as the sum of expenses divided by premiums earned.

FAQ

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Edited & Fact-checked by Oleg Parashchak – CEO Finance Media & Editor-in-Chief at Beinsure Media and Insurance TOP Ratings (24+ years of professional experience in Rankings, Insurance & Media) by AM Best Data.