EU Financial services: insurance - Issue number 75/2008 - Products Statistics in Focus

Insurance contributes in no small manner to economic growth and development in Europe. In 2006, insurance enterprises in the EU‑27 generated EUR 996bn in turnover (i.e. gross direct premiums written), employed over one million people and invested more than EUR 5 229bn in the economy. The structure of the insurance sector varies significantly across countries. The last part of this article takes a closer look at the role of insurance enterprises in national accounts. Non-life insurance claims paid by financial corporations and the final consumption expenditure of households for insurance are briefly analysed.