Building Europe's Future: Mobilising Insurance Investment for Infrastructure (Insurance Europe)

Summary

• Europe faces €750–800 billion in additional annual investment needed according to the Draghi report.p.1
• European insurers manage €9.5 trillion in assets, serving as a key source of patient long-term capital.p.1
• German insurers have committed more than €100 billion in infrastructure assets.p.1
• French insurers held €67 billion in infrastructure investments at end-2024.p.1
• Italian insurers invested €17.6 billion in infrastructure in 2025.p.1
• The primary barrier to investment is a shortage of large, investment-ready projects rather than lack of capital.p.2

Key insights

1. Europe requires €750–800 billion of additional annual investment according to findings in the Draghi report.p.1
2. European insurers oversee €9.5 trillion in assets that naturally align with long-term infrastructure cash flows.p.1
3. German insurers have deployed more than €100 billion into infrastructure projects.p.1
4. Infrastructure investments held by French insurers reached €67 billion at end-2024.p.1
5. Italian insurers contributed €17.6 billion in infrastructure investments in 2025.p.1
6. Fragmented and small-scale projects increase assessment costs and represent a key bottleneck for institutional investors.p.2
7. Solvency II framework rules should be kept risk-sensitive and workable to better reflect actual infrastructure investment risks.p.3
8. Bundling smaller projects into larger investment platforms can standardise procurement and reduce overall costs.p.3