Kingdom of the Netherlands-The Netherlands

The Netherlands has a large financial system. The system's assets are roughly eight times the Gross Domestic Product (GDP) of the Netherlands. Banks account for about one third of the financial system and 253 percent of GDP as of 2023Q2. Occupational pension funds are among the largest globally, at 142 percent of GDP. The insurance sector, in particular life insurance, has been undergoing consolidation, and stands at about 43 percent of GDP. Other financial institutions have grown significantly to surpass banks in size, reflecting responses to Brexit and financial innovation. The Dutch financial system is deeply interconnected domestically and with the rest of the world.