OECD insurance statistics: towards a global framework

The OECD collects and publishes major official insurance statistics for all OECD countries. In April 2007, the OECD launched the global insurance statistics project which aims to enhance the timeliness, relevance, policy impact and global reach of these statistics and indicators. The results of the second year of fast track data collection are now available.

This project is supported by the Task Force on Insurance Statistics of the Insurance and Private Pensions Committee (IPPC). Following the success of the pilot phase, the IPPC has decided to pursue its implementation on an ongoing basis. Additional funding is currently being sought for this multi-year undertaking.

Further improvements foreseen within the framework of this project will include:

• Accelerating the collection of statistics to enhance timeliness;
• Expanding the current compact set of core statistics and indicators to include additional indicators;
• Phasing in selected additional countries where possible to extend its global reach;
• Seeking greater synergy between existing OECD insurance and pension statistical activities.

Selected indicators

Data can be downloaded in Excel format. Indicators marked with a (F) are available for all OECD countries.

• Total number of companies, 2007 (Excel file): Includes all insurance companies licensed or authorised in the reporting country, including professional reinsurers, whether or not these are controlled, but excluding any statutory system of social security administered by the State.
• Number of life companies, 2007 (Excel file): Life and non-life categories follow the definitions used under national law.
• Number of non-life companies, 2007 (Excel file): Life and non-life categories follow the definitions used under national law.
• Number of composite companies, 2007 (Excel file): A composite company is a company which deals with both life and non-life business.
• Number of reinsurance companies, 2007 (Excel file)
• Number of employees, 2007 (Excel file): Employees of insurance companies include staff (full-time or part-time) employed in the insurance industry. Employees of intermediaries include brokers or agents and their staffs, excluding intermediaries who may sell insurance but are not directly involved in the insurance industry (e.g. bank managers, solicitors, garage owners).
• Total gross premiums, 2007 (F) (Excel file): Gross premiums, which represents total insurance premium written in the reporting country, is a major indicator of the importance of insurance industry in the economy of each country.
• Market share in the OECD, 2007 (F) (Excel file, Life / Non-life): This indicator measures the importance of the national insurance market of each OECD country as compared to the whole OECD insurance market.
• Density, 2007 (F) (Excel file, Total density): This indicator is calculated by dividing direct gross premiums by the population and represents the average insurance spending per capita in a given country.
• Penetration, 2007 (F) (Excel file, Total penetration): This is the ratio of direct gross premiums to gorss domestic product, which represents the relative importance of the insurance industry in the domestic economy.
• Life insurance share, 2007 (F) (Excel file, Figure): This is the ratio of gross life insurance premium to total gross premium, which measures the relative importance of life insurance as compared to non-life insurance.
• Premiums per employee, 2007 (Excel file): This indicator of the relative efficiency of a national insurance inductry is calculated by dividing direct gross premiums by the number of employees in insurance companies.
• Retention ratio, 2007 (Excel file): This is the ratio of net written premiums to total gross premiums. This ratio represents the proportion of retained business and thus, indirectly, the importance of reinsurance for domestic insurance companies.
• Ratio of reinsurance accepted, 2007 (Excel file): This is calculated by dividing reinsurance accepted by total gross premiums and provides an indication of the significance of reinsurance accepted in the national insurance market.
• Market share of foreign-controlled companies and branches/agencies of foreign companies in the domestic market, 2007 (Excel file): Gross premiums basis.
• Market share of branches/agencies of foreign companies in the domestic market, 2007 (Excel file): Gross premiums basis.