General insurance premiums in Europe expected to grow at lower rate of 4.9%

Written by Adam Cadle

22/08/2022

General insurance premiums in Europe are expected to grow at a lower rate of 4.9% in 2022 compared to 7.8% in 2021, according to latest figures from GlobalData, as rising inflation will impact the ability of policyholders to pay higher premiums.

Premium growth is forecast to hit 5% in 2023, 5.2% in 2024 and 5.5% in 2025.

GlobalData senior insurance analyst Swarup Kumar Sahoo said: “Striking a balance between profitability, premium growth, as well as customer retention, is expected to be a key focus area for European general insurers over the next few years.”

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