The assets of Swedish insurance and occupational pension companies relative to the size of the economy, that is, GDP, are among the largest in Europe. This is a commonly used measure of the significance of the insurance industry in a country. Swedish companies also rank among the largest in Europe when assets are compared in absolute terms. French and German companies hold the largest assets, reflecting the fact that these countries have the largest economies in Europe.
In 2025, Swedish occupational pension companies had the second-largest assets relative to GDP among occupational pension companies in Europe, after those in the Netherlands, while Swedish insurance companies had the fifth-largest assets relative to GDP among insurance companies.
Insurance companies in Luxembourg hold large assets relative to GDP because many companies mainly targeting policyholders outside Luxembourg have chosen to establish themselves there. This may in turn reflect Luxembourg’s large financial sector as well as tax considerations. The large assets of Dutch occupational pension companies relative to GDP can largely be explained by the design of the Dutch pension system, where occupational pensions account for a larger share of pension payments than, for example, in Sweden.
This page is based on our report Insurance in Sweden 2016–2025.
