Observation: UK insures pushing a significant chunk of their investment risk to customers (through Unit-linked products) compared to other European insurers – Why?
Well mainly because UK leads the pack when it comes to the life insurance with over Eur 65bn , followed by France (Eur 44bn) and Germany (Eur 34bn).
In the non-life market, UK placed third with GWP at just over Eur 20bn , a step behind Germany (Eur 34bn’ish) with France leading the charge (Eur 38bn).
There are of course a number of assumptions and limitation in the summarised data published by EIOPA. I am now curious to explore the extent to which reinsurance collateral is excluded from this data.
Limitations: The data most likely does not consider intra-group transactions or collateralised reinsurance.
Source: EIOPA as @ Q1 2018