29th December 2021

The Netherlands’ general insurance industry to reach $98.38bn in 2025 as private health insurance and pandemic recovery drive market, forecasts GlobalData

The Dutch economy saw 4% growth in 2021 as the country began to recover from COVID-19. Hot on its heels is the country’s general insurance industry, which is set for growth of 3.7% by the end of 2021, according to GlobalData. Looking ahead, the data and analytics company forecasts the sector to grow at a compound annual growth rate (CAGR) of 4.5%-from $72.08 bn(E63.1bn) in 2020 to $98.38bn(E78.68bn) in 2025.
Rakesh Raj, Senior Insurance Analyst at GlobalData comments “The Dutch economy declined by 3.8% in 2020 due to COVID-19 containment measures, which resulted in a strong decline in disposable income. The resumption of economic activities, successful COVID-19 vaccination rollout programs, and a favourable regulatory environment are expected to support the general insurance industry in the Netherlands, although the speed of recovery remains uncertain with recent news of new nationwide lockdown measures being introduced in The Netherlands to curb the spread of Omicron.”

GlobalData Trends(114 articles)