III - World Overview

WORLD OVERVIEW

WORLD LIFE AND NONLIFE INSURANCE IN 2007

Outside the United States, the insurance industry is divided into life and nonlife or general insurance rather than life/health and property/casualty.

According to the latest Swiss Re sigma study, world insurance premium income grew 3.3 percent in real terms in 2007, reaching $4.06 trillion. This growth was primarily driven by the life business in industrialized and emerging markets and to a lesser extent by the nonlife business in the emerging markets. Global nonlife premium growth slowed to 0.7 percent in real terms, totaling $1.7 trillion in 2007. By contrast, life insurance continued to expand in 2007 with world life insurance premiums increasing by 5.4 percent to $2.4 trillion.

WORLD LIFE AND NONLIFE INSURANCE PREMIUMS, 2005-2007 (1)

(Direct premiums written, U.S. $ millions)

Year	Nonlife (2)	Life	Total
2005	$1,442,258	$2,003,557	$3,445,816
2006	1,549,100	2,125,791	3,674,892
2007	1,667,780	2,393,089	4,060,870
(1) Before reinsurance transactions. (2) Includes accident and health insurance. Source: Swiss Re, sigma database.

TOP TEN COUNTRIES BY NONLIFE AND LIFE DIRECT PREMIUMS WRITTEN, 2007 (1)

(Direct premiums written, U.S. $ millions)

				Total premiums
Rank	Country	Nonlife premiums (2)	Life premiums	Amount	Percent change from prior year	Percent of total world premiums
1	United States (3)	$651,311	$578,357	$1,229,668	4.69%	30.28%
2	United Kingdom	113,946	349,740	463,686	28.16	11.42
3	Japan (4)	94,182	330,651	424,832	-3.31	10.46
4	France	81,907	186,993	268,900	7.47	6.62
5	Germany	120,407	102,419	222,825	10.09	5.49
6	Italy	54,112	88,215	142,328	1.27	3.50
7	South Korea (4)	35,692	81,298	116,990	16.28	2.88
8	Netherlands	66,834	35,998	102,831	11.98	2.53
9	Canada (5)	54,805	45,593	100,398	14.74	2.47
10	PR China	33,810	58,677	92,487	30.75	2.28
(1) Before reinsurance transactions. (2) Includes accident and health insurance. (3) Nonlife premiums include state funds; life premiums include an estimate of group pension business. (4) April 1, 2007-March 31, 2008. (5) Life business expressed in net premiums. Source: Swiss Re, sigma, No. 3/2008.

LIFE AND NONLIFE INSURANCE PREMIUMS, 2007

(Direct premiums written, U.S. $ millions)

			Total premiums
Country	Nonlife premiums (1)	Life premiums	Amount	Percent of total world premiums
Algeria	$666	$44	$711	0.02%
Angola	936	12	949	0.02
Argentina	4,471	1,844	6,315	0.16
Australia (2)	27,508	34,725	62,233	1.53
Austria	11,875	9,873	21,748	0.54
Bahamas	243	303	546	0.01
Bangladesh	145	309	453	0.01
Belgium	14,683	31,157	45,841	1.13
Botswana	113	305	418	0.01
Brazil	20,501	18,285	38,786	0.96
Bulgaria	904	159	1,064	0.03
Canada (3)	54,805	45,593	100,398	2.47
Chile	2,377	3,792	6,169	0.15
Colombia	2,953	1,150	4,103	0.10
Costa Rica	439	44	483	0.01
Croatia	1,227	461	1,689	0.04
Cyprus	486	405	891	0.02
Czech Republic	3,765	2,654	6,419	0.16
Denmark	9,372	18,399	27,771	0.68
Dominican Republic	503	98	601	0.01
Ecuador	572	107	678	0.02
Egypt (4)	574	516	1,090	0.03
Estonia	326	167	493	0.01
Finland	4,273	16,262	20,535	0.51
France	81,907	186,993	268,900	6.62
Germany	120,407	102,419	222,825	5.49
Greece	2,910	3,094	6,004	0.15
Hong Kong	2,460	21,848	24,307	0.60
Hungary	2,194	2,750	4,945	0.12
Iceland	493	70	563	0.01
India (5)	7,243	47,132	54,375	1.34
Indonesia	2,210	4,728	6,938	0.17
Iran (6)	3,290	215	3,505	0.09
Ireland	10,760	49,933	60,693	1.49
Israel	4,665	4,193	8,857	0.22
Italy	54,112	88,215	142,328	3.50
Jamaica	311	122	433	0.01
Japan (5)	94,182	330,651	424,832	10.46
Jordan	366	41	407	0.01
Kazakhstan	1,200	38	1,238	0.03
Kenya	493	229	721	0.02
Kuwait	602	132	734	0.02
Latvia	546	50	596	0.01
Lebanon	483	278	761	0.02
Liechtenstein	193	5,512	5,705	0.14
Lithuania	495	275	771	0.02
Luxembourg	2,046	14,984	17,030	0.42
Malaysia (5)	2,939	5,885	8,824	0.22
Mexico	9,763	7,653	17,416	0.43
Morocco	1,437	716	2,153	0.05
Namibia	178	422	601	0.01
Netherlands (7)	66,834	35,998	102,831	2.53
New Zealand	5,430	1,023	6,453	0.16
Nigeria	687	127	814	0.02
Norway	7,956	11,456	19,412	0.48
Oman	339	75	414	0.01
Pakistan	637	428	1,065	0.03
Panama	424	182	607	0.01
Peru	676	511	1,187	0.03
Philippines	774	1,331	2,105	0.05
Poland	7,677	7,950	15,626	0.38
Portugal	6,044	12,956	19,000	0.47
PR China	33,810	58,677	92,487	2.28
Qatar	510	29	538	0.01
Romania	2,337	561	2,898	0.07
Russia	28,973	873	29,846	0.73
Saudi Arabia	2,203	66	2,269	0.06
Serbia	687	79	766	0.02
Singapore	4,221	9,958	14,179	0.35
Slovakia	1,295	1,041	2,336	0.06
Slovenia	1,758	834	2,592	0.06
South Africa (3)	7,749	34,927	42,676	1.05
South Korea (5)	35,692	81,298	116,990	2.88
Spain	43,530	31,166	74,696	1.84
Sri Lanka	284	196	480	0.01
Sweden	9,676	23,969	33,646	0.83
Switzerland	19,599	23,982	43,580	1.07
Taiwan	10,633	49,813	60,446	1.49
Thailand	3,764	4,521	8,285	0.20
Trinidad and Tobago	368	781	1,149	0.03
Tunisia	621	73	694	0.02
Turkey	7,212	1,085	8,297	0.20
Ukraine	3,318	151	3,469	0.09
United Arab Emirates (7)	2,938	617	3,555	0.09
United Kingdom	113,946	349,740	463,686	11.42
United States (8)	651,311	578,357	1,229,668	30.28
Venezuela	5,593	192	5,785	0.14
Vietnam	463	565	1,027	0.03
(1) Includes accident and health insurance. (2) Nonlife insurance: July 1, 2006-June 30, 2007. (3) Life business expressed in net premiums. (4) July 1, 2006-June 30, 2007. (5) April 1, 2007-March 31, 2008. (6) March 21, 2007-March 20, 2008. (7) Nonlife insurance is gross premiums including a small amount of reinsurance premiums. (8) Life premiums include an estimate of group pension premiums. Nonlife insurance includes state funds. Source: Swiss Re, sigma, No. 3, 2008.

POPULATION AND GROSS DOMESTIC PRODUCT BY COUNTRY, 2007

Country	Population in 2007 (1)	Gross domestic product (2) (U.S. $ billions)
Algeria	33,333,216	$268.9
Angola	12,263,596	81.0
Argentina	40,301,927	523.7
Australia	20,434,176	766.8
Austria	8,199,783	319.7
Bangladesh	150,448,339	209.2
Belgium	10,392,226	378.9
Bermuda	66,163	4.5 (3)
Brazil	190,010,647	1,838.0
Bulgaria	7,322,858	86.7
Canada	33,390,141	1,274.0
Chile	16,284,741	234.4
China, People's Republic of	1,321,851,888	7,043.0
Colombia	44,379,598	320.4
Costa Rica	4,133,884	56.0
Croatia	4,493,312	69.4
Cyprus	788,457	21.4
Czech Republic	10,228,744	249.1
Denmark	5,468,120	204.6
Dominican Republic	9,365,818	85.4
Ecuador	13,755,680	98.3
Egypt	80,335,036	431.9
El Salvador	6,948,073	36.0
Estonia	1,315,912	29.4
Finland	5,238,460	185.9
France	64,057,790	2,067.0
Germany	82,400,996	2,833.0
Greece	10,706,290	326.4
Hong Kong	6,980,412	293.4
Hungary	9,956,108	194.2
Iceland	301,931	11.9
India	1,129,866,154	2,965.0
Indonesia	234,693,997	845.6
Iran	65,397,521	852.6
Ireland	4,109,086	187.5
Israel	6,426,679	184.9
Italy	58,147,733	1,800.0
Jamaica	2,780,132	13.5
Japan	127,433,494	4,346.0
Jordan	6,053,193	28.2
Kazakhstan	15,284,929	161.5
Kenya	36,913,721	57.7
Kuwait	2,505,559	138.6
Latvia	2,259,810	40.0
Lebanon	3,925,502	40.7
Liechtenstein	34,247	1.8 (4)
Lithuania	3,575,439	59.6
Luxembourg	480,222	38.8
Malaysia	24,821,286	357.9
Mexico	108,700,891	1,353.0
Morocco	33,757,175	127.0
Namibia	2,055,080	10.7
Netherlands	16,570,613	638.9
New Zealand	4,115,771	112.6
Nigeria	135,031,164	294.8
Norway	4,627,926	257.4
Oman	3,204,897	61.2
Pakistan	164,741,924	446.1
Panama	3,242,173	29.1
Peru	28,674,757	217.5
Philippines	91,077,287	298.9
Poland	38,518,241	624.6
Portugal	10,642,836	232.0
Qatar	907,229	57.7
Romania	22,276,056	246.7
Russia	141,377,752	2,076.0
Saudi Arabia	27,601,038	572.2
Serbia	10,150,265	56.9
Singapore	4,553,009	222.7
Slovakia	5,447,502	107.6
Slovenia	2,009,245	54.8
South Africa	43,997,828	467.6
South Korea	49,044,790	1,206.0
Spain	40,448,191	1,362.0
Sri Lanka	20,926,315	83.2
Sweden	9,031,088	333.1
Switzerland	7,554,661	300.9
Taiwan	22,858,872	690.1
Thailand	65,068,149	519.9
Trinidad and Tobago	1,056,608	22.9
Tunisia	10,276,158	77.2
Turkey	71,158,647	667.7
Ukraine	46,299,862	321.3
United Arab Emirates	4,444,011	145.8
United Kingdom	60,776,238	2,147.0
United States	301,139,947	13,860.0
Uruguay	3,460,607	37.1
Venezuela	26,023,528	335.0
Vietnam	85,262,356	222.5
(1) As of July 2007. (2) Based on Purchasing Power Parity calculations, which take into account the relative cost of living and inflation rates of countries. (3) 2004 data. (4) 2006 data. Source: U.S. Central Intelligence Agency.