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Illustrated portrait of Belgium; geographic and cultural interpretation, not regulator premises.
← The regulatory atlasCOUNTRY PERSPECTIVE / Belgium

Twin peaks: prudential and conduct authorities

BelgiumNBB / FSMA

Insurance supervision in Belgium.

AI-generated country illustrationSources checked

01 / The institution

Banque nationale de Belgique (NBB)

The National Bank of Belgium maintains the prudential authorisation register under the 2016 insurance law. Conduct responsibilities also involve the FSMA.

How it is structured

Twin peaks: prudential and conduct authorities

Institutional source ↗

The legal foundations

Mandate, written into law.

Establishing legislation and the rules governing insurance may be different instruments.

02 / Market signals

The numbers, with context.

Figures retain the reporting period and accounting basis of their source. They are snapshots, not live indicators or directly comparable country rankings.

Insurance penetration. A current premium-to-GDP ratio has not been independently verified for this profile. No estimate is substituted.

03 / The report notebook

A dated view of the market.

What we noted in the regulator’s publications. Each entry separates the period covered, publication date when known, and our review date.

ReviewedNOTE 01

2025 year-end insurance balance sheets

National Bank of Belgium Financial Stability Report 2026 ↗

Insurance-sector chapter reviewed. Solvency II balance-sheet and capital figures are kept separate from premium charts with different accounting and reporting periods.

Assets above liabilities

EUR 43bn

The balance-sheet surplus accompanies EUR 317bn of liabilities. It is not a premium-income measure or a guarantee against investment losses.

National Bank of Belgium Financial Stability Report 2026Printed page 63 · Country illustration
Read the original publication ↗

04 / Official contacts

Reach the institution.

Public institutional channels, checked 17 September 2026.

Research trail

Sources you can follow.

Independent editorial research by Insurers Global. Source dates do not certify that a law includes every subsequent amendment.

  1. Bijkantoren in België van verzekeringsondernemingen die onder het recht van een andere lidstaat ressorteren | Nationale Bank van België ↗Checked
  2. Institutional website — contact route ↗Checked
  3. National Bank of Belgium Financial Stability Report 2026 ↗Checked

Country scenes are AI-generated illustrations made with OpenAI image tools, not official regulator photographs or endorsements. Quotations remain searchable text. Report figures and directory verification are maintained separately.