Germany has the largest economy in Europe and this gives it great economic strength as a financial location. The country has several important banking and stock market centres such as Munich, Hannover, Stuttgart, Berlin and Frankfurt. Alongside London and Paris, Frankfurt is one of the three main financial hubs in Europe and hosts a number of important industry events such as the annual Euro Finance Week. Frankfurt ranks 14th in the 2011 Global Financial Centres Index – ahead of Beijing, Washington, Dubai, Amsterdam and Stockholm. In addition to 267 banks, the city is also home to a number of internationally regarded financial institutions, most notably the European Insurance and Occupational Pensions Authority (EIOPA) which was founded in 2011. With many new institutes such as the House of Finance, the city is also a world leader in the fields of research and education. Munich has established a reputation as an influential insurance location, while Mannheim provides a venue for the annual FONDS Professionell Kongress – one of the biggest industry events in Europe with several thousand participants. After the USA, Japan, the UK and France, Germany is the fifth-largest primary insurance market in the world with an income of €179 billion from premiums in 2010. It also continues to maintain its position as a global leader in the reinsurance sector.