Building links between Europe and the rest of the world
Beyond their key role within Europe, the continent’s insurers have a significant presence beyond Europe’s borders. In fact, the European (re)insurance industry is the world’s most international (re)insurance sector and is a global success story. Today, around a third of all internationally active insurance groups are headquartered in the EU. Europe is also the global leader in reinsurance.
A key aspect of Insurance Europe’s work on the international stage is to engage with global policymakers such as the G-20, standard setters like the International Association of Insurance Supervisors, and international organisations such as the Financial Stability Board and the Organisation for Economic Co-operation and Development to ensure that the recommendations, principles, standards and global requirements that are developed on a wide range of issues are balanced, appropriately reflect the insurance business model and work as intended.
In addition, to make society more resilient to the challenges it faces, it is very important that countries around the world are free to benefit from both the coverage and the expertise that Europe’s insurers and reinsurers can offer them. A considerable amount of work remains to be done to promote and achieve the liberalisation of the insurance sector on a worldwide level.
50% of all internationally active insurance groups are European
This is why Insurance Europe engages with the European Commission and other stakeholders to build understanding of the many benefits that Europe’s (re)insurance industry can offer other countries, as well as of the need to remove discriminatory barriers and protectionist practices that prevent this from happening.
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