Distribution of domestic property & casualty insurances Luxembourg 2016, by branch

This statistic shows the distribution of the domestic property and casualty (non-life) insurance market in Luxembourg in 2016, by insurance branch. Unlike neighboring countries in Europe and much like Switzerland, Luxembourg has a strong international orientation. The Grand Duchy therefore has two insurance markets: one domestic and one international. In 2016, car insurances made up approximately 46 percent of the total domestic property and casualty insurance market. In the most recent Global Financial Centers Index, Luxembourg was ranked as having the third most competitive financial center in Europe after London and Zürich. In recent years, the Grand Duchy made efforts to diversify its financial activities in certain niches such as Chinese and Islamic finance, together with FinTech. Luxembourg's three traditional strengths, however, involve its activities in investment funds, banking and insurance. The number of domestic companies increased in 97 in 2014 and remained the same in 2015.