Savings and Investments Union: How insurers can drive Change
Europe has no shortage of savings. The challenge lies in mobilising this capital in ways that serve citizens, strengthen the economy, and support Europe’s strategic priorities, including infrastructure, the green transition, and digitalisation. As long-term investors with extensive experience, insurers can play a crucial role in these ambitions. At EU-level, support needs to come through targeted regulation, simplification, and stronger financial literacy. These were the central themes of the discussion at our Savings and Investments Union (SIU) event.
A new mindset for Europe’s savings
The SIU vision is less about launching yet another action plan and more about changing people’s perspective. Europe already holds substantial household savings. The question is how these assets can be deployed to help citizens build wealth, while simultaneously financing projects related to infrastructure, the green transition, and digitalisation. In this context, the internal market is not only an economic project, but also a strategic and geopolitical one. Keeping European savings invested in Europe matters.
Rather than relying solely on legislation, the SIU promotes a mix of targeted regulation, recommendations and practical implementation. Simplification plays a key role here: reducing unnecessary complexity without deregulating and focusing on outcomes rather than formal compliance.
The role of insurers as long-term Investors
Insurers are uniquely positioned to support the objectives of the SIU. With long-term liabilities, broad distribution networks and deep experience in managing risk over time, they can act as a bridge between citizens’ savings and long-term investments. Europe’s insurers already manage trillions of euros in assets, demonstrating that the issue is not a lack of capital, but how it is channelled.
Infrastructure, defence-related capabilities and the green transition were repeatedly identified as areas where long-term investment is both economically necessary and attractive to savers, provided the regulatory framework allows for suitable products.
Citizens and financial literacy
A defining feature of the SIU is its focus on citizens. For savings to flow into capital markets, people need trust, understanding, and appropriate instruments. Financial literacy therefore plays a crucial role, not only in explaining how markets work, but also enabling citizens to act on that knowledge.
Different life stages call for different solutions. Younger people often invest small amounts over long periods, middle-aged savers begin to accumulate capital, while retirees focus on decumulation and income stability. Cultural differences across Member States further shape attitudes to risk and investment. The SIU acknowledges this diversity and avoids imposing a one-size-fits-all model, instead encouraging national approaches that reflect local preferences and traditions.
Products, pensions and public-private cooperation
Savings and investment “accounts” should be understood not as abstract concepts, but as concrete products that meet citizens’ needs. Pensions are a cornerstone of this debate, offering a natural entry point for long-term investment and risk-sharing over time. Tools such as pension dashboards and tracking systems can increase awareness and engagement, especially among younger consumers.
Simplification without Fragmentation
Simplification emerged as a shared priority, but also a shared responsibility. Achieving it requires not only regulatory restraint, but also changes in implementation, supervision and market practices. At the same time, there is a clear commitment to preserving the integrity of the internal market and avoiding regulatory fragmentation that could undermine cross-border activity.
Conclusion
The discussion underscored a broad consensus: a strong Europe needs a strong financial sector, capable of serving citizens while supporting strategic investment. The SIU offers a framework to align these objectives, provided it continues to focus on trust, simplicity and the real needs of European consumers.