Luxembourg insurance sector reflects on "encouraging" year
Wednesday, 07 15 2015, Category: Insurance and Reinsurance, Country: Europe
2014 was an “encouraging” year for Luxembourg's insurance sector, annual results published on Monday suggest.
Revenues rose 11.9 percent, Assurance Commission ACA revealed, a positive growth which has been credited to the rise in popularity in life insurance products, which jumped 20.04 percent.
Revenues from non-life insurance products increased by 4.06 percent, while the reinsurance sector, which experienced an epic 25 percent growth in 2012, fell for the second consecutive year, this time by 2.5 percent.
“If we look at the total number of premiums, we have surpassed the 36 billion euro mark. There have never been so many premiums sold in Luxembourg, which proves that for life assurance above all has turned a corner following the new fiscal regulations,” said ACA president Claude Wirion.
Source: Luxemburger Wort