A dynamic and diverse sector: Non-Life Insurance & Reinsurance in Luxembourg

Non-Life insurance is an essential pillar of our daily lives. It covers a wide range of risks: accidents, fire, cyberattacks, natural disasters, or professional liability. At the crossroads of technical, economic, and societal challenges, it acts as a safety net for individuals, businesses, and institutions.

In Luxembourg, this sector is experiencing exceptional momentum. Historically driven by reinsurance and life insurance, the country has in recent years become a true European hub for Non-Life insurance. Following Brexit, many international players have chosen the Grand Duchy as a base to maintain access to the European market. The result: unprecedented growth, increased diversity of insurance lines, and a strengthened role at the heart of the European financial ecosystem.

Reinsurance companies help insurance companies manage risks by transferring some of their liability. By this mean, reinsurers protect insurers from large and catastrophic loses, stabilize their financial performance and increase their capacity to offer coverage.

With an ever increasing need of coverage and the raise of major and/or localised risks like natural catastrophes, reinsurers have become the essential layer of security, without which many risks could not be covered.

Through this thematic dossier, we invite you to explore the unique features and strengths of the Non-Life Insurance and Reinsurance sector in Luxembourg. Four key themes will help you discover the diversity of professions, the variety of insurance products and business lines, the sector’s economic impact, and the many career opportunities it offers. Expert insights, testimonials, podcasts, and videos will bring to life the dynamism of a sector that remains too little known.

Opportunities for all

Behind every policy: A wide range of expert functions:

Just like Life insurance, Non-Life Insurance and Reinsurance require the involvement of several varied functions, each covering a very specific activity, without which the insurance company could not operate optimally. Whether its objective is to ensure the sale and distribution of insurance products, to limit risks or to manage internal teams, each function is essential to the smooth running of the companies, and works in interaction with other departments.

Let’s explore the main functions of Non-Life Insurance and Reinsurance companies, which could be divided as follows:

Opportunities for all backgrounds:

With such a variety of functions, the Non-Life Insurance and Reinsurance sector is particularly diverse and offers career opportunities across a wide range of fields. With digital transformation and the emergence of new risks, the variety of profiles in demand has never been broader.

Levels of experience and expertise may vary depending on the open position at each company, yet this dynamic sector provides abundant opportunities for both young graduates and experienced professionals.

Inside the sector: Voices from the field :

What is it really like to work in Non-Life Insurance or Reinsurance?

In this podcast series, professionals from across the industry share their career paths, daily routines, and memorable experiences. From underwriting to compliance, from risk engineering to claims handling, get a behind-the-scenes look at the roles that drive the sector forward.

Each episode offers a unique perspective, real-world anecdotes, and insights into the skills that matter.

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A key, dynamic and essential sector, rich in diversity

Protection at the heart of everything

Insurance has a special place within the financial industry, as it serves within society a key purpose of protection, under many forms. Regardless of the terms, the structure or the specificity of a specific coverage, the overall objective is the same: making sure you are best prepared for the hazards of existence.

Non-Life Insurance is a vital pillar for the protection of individuals and businesses. It provides coverage for a broad range of risks that can have major financial consequences, whether for individuals or companies. Luxembourg Non-Life and Reinsurance provide a large range of products, from over xxx different lines of business.

Diversity in the nature and structure of companies

As to the insurance companies themselves, the product offering and areas covered depend on the business strategy. Some Luxembourg companies have a more “generalist” approach and offer a wide range of products in a variety of lines of business. Others are specialised in one or a few areas, and have become essential in the ecosystem to make sure specific risks are efficiently covered.

The nature of the company is also very diversified: next to major global insurance groups, Luxembourg is also hosting smaller specialised or mutual insurance companies. Both for Non-Life and Reinsurance business, companies can be:

• A commercial company, selling a product or coverage to several buyers on the general market; or
• A captive company linked to a specific company or group, and selling products to this company or group.

This combination of global groups, specialised players, and mutual insurers is what gives the Luxembourg insurance landscape its depth and resilience.

Diversity of products and coverages

Unlike Life Insurance, which is focused on long-term horizons, Non-Life Insurance primarily addresses short- and medium-term claims. The Non-Life and Reinsurance offering covers several key areas, including:

• Personal insurance: Motor, home, supplementary health, liability, etc.
• Corporate insurance: Infrastructure protection, professional liability, business interruption, etc.
• Emerging and specialised risks: Cyber insurance, climate insurance, transport and aviation, etc.

To learn more about the diversity of the Non-Life and Reinsurance business, please find below some in-depth articles by experts of the sector.

Trends shaping the future of Non-Life insurance and Reinsurance

The Non-Life Insurance and Reinsurance sector is undergoing profound transformation. In the face of increasingly complex risks,  whether climate-related, technological, or systemic insurers are continuously adapting their products, pricing methods, and risk management tools. Climate change, for instance, is altering the frequency and severity of claims, pushing insurers to rethink their approach to risk. Likewise, the surge in cyberattacks calls for innovative, responsive insurance solutions.

But beyond adaptation, it is innovation that is truly reshaping the sector. The rise of parametric insurance, the development of ESG-aligned products, the automation of underwriting and claims processes, and the growing use of artificial intelligence in decision-making are revolutionising the way insurance is designed and delivered. In Luxembourg, these trends are reflected in the increasing involvement of local market players in forward-thinking projects that sit at the intersection of technology, sustainable finance, and European-scale risk management. This innovation-driven momentum is reinforcing Luxembourg’s role as a centre of expertise and growth for the international Non-Life insurance community.

Luxembourg: A strategic hub for Non-Life Insurance and Reinsurance

While Luxembourg has long been recognised for its leadership in Life Insurance and Reinsurance, it is now emerging as a key player in the Non-Life landscape across Europe. This evolution is no coincidence. The Grand Duchy brings together a unique set of advantages that appeal to both major international groups and niche specialists: political and economic stability, a predictable and responsive regulatory framework, direct access to decision-makers, transparent taxation, and a proven expertise in cross-border operations.

Luxembourg’s attractiveness has been significantly reinforced since Brexit, but its strengths go well beyond location. The country offers a multilingual workforce, close proximity to European institutions, and a deeply embedded culture of compliance. These qualities make Luxembourg a fertile ground for companies looking to manage risk across multiple European markets. Many insurers have chosen to base their EU headquarters here in order to maintain seamless access to the Single Market, while benefiting from an agile environment tailored to the needs of a fast-evolving sector.

From theory to practice: discover the sector in real life

Numbers and definitions are just the beginning. What really brings Non-Life Insurance to life are the challenges, the innovations, and the stories behind each product.

Our members share their insights on:

• What makes a line of business unique
• How Luxembourg became a strategic platform post-Brexit
• Case studies that illustrate the sector’s real-world impact