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Back in 2008, there were *** insurance companies in Belgium, yet this number fell below 100 for the first time in 2021 and remained below 100 in 2022. In 2022, there were ** insurance companies in Belgium. The biggest insurance branch in Belgium is the life branch, which focuses on life insurances, pensions, and funeral insurance and reached a market share of life insurance business in terms of gross premium, the ratio of gross life insurance premium to the total gross premium, of approximately ** percent in Belgium in 2007. This, however, decreased to approximately ** percent in 2020. This development coincides with the European Central Bank purchasing assets on credit markets across Europe and, consequently, low interest rates in long-term investments, such as the capital market rate of ten-year government bonds in Belgium. From 2008 onwards, the number of life insurance companies decreased steadily.