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This annual publication contains time series of insurance statistics for OECD member countries. Statistics and indicators are derived from national administrative sources based on a questionnaire prepared under the auspices of the OECD Insurance and Private Pensions Committee, and its Task Force on Insurance Statistics.
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The OECD has been collecting insurance statistics for many years, with data on the insurance sector dating back to the early 1980s. In response to the financial crisis, the Global Insurance Statistics (GIS) project was launched as part of the OECD’s insurance market monitoring activities. The main objective was to expand the scope of the OECD’s statistical framework for insurance and extend its global reach, with a view to enhancing the transparency of insurance markets. These changes led to the collection of key balance sheet and income statement items for the direct insurance and reinsurance sectors, and to the geographical expansion of the OECD’s Global Insurance Statistics Database.
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Gross premiums increased in most countries in the life, non-life or both segments in 2015. This growth may be a sign or a consequence of more favourable economic conditions, leading individuals to purchase insurance products. In most countries, the relatively low penetration of insurance (especially in Latin America and some Asian countries) shows that the insurance sector still has significant room to expand. In some countries, gross premiums declined where the continued low interest rates may have deterred individuals from purchasing life insurance products with lower guarantees. The economic context can directly impact the real developments of the life or the non-life sector as the example of Brazil where the high inflation outpaced the nominal growth of non-life premiums shows.
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