World Overview

World Life And Nonlife Insurance In 2015

Outside the United States, the insurance industry is divided into life and nonlife, or general insurance, rather than life/health and property/casualty. Swiss Re’s 2015 world insurance study is based on direct premium data from 147 countries, with detailed information on the largest 88 markets.  World insurance premiums rose 3.8 percent in 2015, adjusted for inflation, compared with 3.5 percent in 2014. Nonlife premiums rose 3.6 percent in 2015, adjusted for inflation, following 2.4 percent growth in 2014. Life insurance premiums grew by 4.0 percent after inflation in 2015, slower than the 4.3 percent growth achieved in 2014.

 

World Life And Nonlife Insurance Direct Premiums Written, 2013-2015 (1)

(US$ millions)

Year Life Nonlife (2) Total
2013 $2,547,486 $2,040,966 $4,588,451
2014 2,655,593 2,099,118 4,754,710
2015 2,533,818 2,019,967 4,553,785

(1) Before reinsurance transactions.
(2) Includes accident and health insurance.

Source: Swiss Re, sigma database, sigma 3/2016.

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Top 10 Countries By Life And Nonlife Insurance Direct Premiums Written, 2015 (1)

(US$ millions)

        Total premiums
Rank Country Life premiums Nonlife premiums (2) Amount Percent change
from prior year
Percent of total
world premiums
1 United States (3), (4) $552,506 $763,766 $1,316,721 3.6% 28.90%
2 Japan (5), (6) 343,816 105,891 449,707 -5.6 9.88
3 P.R. China (7) 210,763 175,737 386,500 17.7 8.49
4 United Kingdom (5) 214,492 105,685 320,176 -5.2 7.03
5 France (7) 150,143 80,402 230,545 -14.5 5.06
6 Germany (8) 96,725 116,538 213,263 -16.4 4.68
7 Italy (5) 124,848 40,189 165,037 -15.3 3.62
8 South Korea (6) 98,218 55,402 153,620 -3.3 3.37
9 Canada (5), (9) 49,331 65,637 114,968 -9.5 2.52
10 Taiwan 79,627 16,352 95,979 0.4 2.11

(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) Life premiums are provisional.
(5) Estimated.
(6) April 1, 2015, to March 31, 2016.
(7) Provisional.
(8) Nonlife premiums are provisional.
(9) Life premiums are net premiums.

Source: Swiss Re, sigma, No. 3/2016.

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Life And Nonlife Insurance Premiums, 2015

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

      Total premiums
Country Nonlife premiums (1) Life premiums Amount  Percent of total world premiums
Algeria $1,162 $100 $1,262 0.03%
Angola 838 14 853 0.02
Argentina 15,882 3,527 19,410 0.43
Australia  26,924 43,663 70,587 1.55
Austria  11,893 7,509 19,402 0.43
Bahrain  593 153 746 0.02
Bangladesh  390 1,082 1,473 0.03
Belgium  15,824 17,253 33,078 0.73
Brazil  31,986 37,106 69,091 1.52
Bulgaria  881 188 1,069 0.02
Canada  65,637 49,331 114,968 2.52
Cayman Islands  726 31 757 0.02
Chile  4,380 6,946 11,326 0.25
Colombia  5,525 2,319 7,844 0.17
Costa Rica  921 135 1,056 0.02
Croatia  844 426 1,270 0.03
Cyprus  471 335 806 0.02
Czech Republic 3,699 2,537 6,236 0.14
Denmark  10,495 19,887 30,383 0.67
Dominican Republic 709 91 800 0.02
Ecuador  1,878 355 2,232 0.05
Egypt  1,120 988 2,108 0.05
Finland  5,014 22,233 27,246 0.60
France  80,402 150,143 230,545 5.06
Germany 116,538 96,725 213,263 4.68
Greece  2,244 1,899 4,143 0.09
Guatemala  623 153 775 0.02
Hong Kong  4,494 41,255 45,748 1.00
Hungary  1,379 1,602 2,981 0.07
India  15,101 56,675 71,776 1.58
Indonesia  3,916 11,013 14,930 0.33
Iran  7,052 825 7,877 0.17
Ireland  7,759 47,416 55,175 1.21
Israel  7,195 8,099 15,295 0.34
Italy  40,189 124 848 165,037 3.62
Japan  105,891 343,816 449,707 9.88
Jordan  692 85 778 0.02
Kazakhstan  939 248 1,188 0.03
Kenya  1,133 664 1,797 0.04
Kuwait  874 174 1,048 0.02
Lebanon  1,066 455 1,521 0.03
Liechtenstein  1,047 2,364 3,411 0.07
Luxembourg  3,529 23,272 26,801 0.59
Macao  296 942 1,237 0.03
Malaysia  4,762 9,588 14,351 0.32
Malta  1,990 1,335 3,325 0.07
Mauritius  257 492 749 0.02
Mexico  13,763 11,462 25,225 0.55
Morocco  2,038 1,084 3,122 0.07
Namibia  282 634 917 0.02
Netherlands  62,810 17,785 80,595 1.77
New Zealand  7,800 1,599 9,399 0.21
Nigeria 974 446 1,420 0.03
Norway  8,254 11,610 19,864 0.44
Oman  1,008 116 1,124 0.02
Pakistan  731 1,451 2,182 0.05
Panama  1,066 334 1,400 0.03
Peru  1,886 1,729 3,616 0.08
Philippines  1,539 4,010 5,550 0.12
Poland  8,287 5,857 14,144 0.31
Portugal  4,684 9,579 14,263 0.31
PR China  175,737 210,763 386,500 8.49
Qatar  2,761 72 2,833 0.06
Romania  1,710 427 2,137 0.05
Russia  14,672 2,129 16,801 0.37
Saudi Arabia  9,634 256 9,891 0.22
Serbia  587 165 753 0.02
Singapore  11,746 16,258 28,004 0.61
Slovakia  1,218 980 2,198 0.05
Slovenia  1,564 628 2,192 0.05
South Africa  8,432 37,526 4,558 1.01
South Korea  55,402 98,218 153,620 3.37
Spain 32,947 28,368 61,315 1.35
Sri Lanka  508 383 892 0.02
Sweden  9,241 24,261 33,502 0.74
Switzerland  27,372 33,916 61,289 1.35
Taiwan  16,352 79,627 95,979 2.11
Thailand  7,063 14,619 21,682 0.48
Trinidad and Tobago 782 365 1,146 0.03
Tunisia  679 144 823 0.02
Turkey  9,779 1,361 11,140 0.24
Ukraine  1,241 98 1,339 0.03
United Arab Emirates  7,657 2,436 10,093 0.22
United Kingdom 105,685 214,492 320,176 7.03
United States  763,766 552,506 1,316,271 28.9
Uruguay   837 428 1,265 0.03
Venezuela  7,382 119 7,500 0.16
Vietnam  1,414 1,583 2,997 0.07
Other 11,517 3,727 15,212 0.33
World $2,019,967 $2,533,818 $4,553,785 100.00%

(1) Includes accident and health insurance.

Source: Swiss Re, sigma, No. 3/2016.

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Population By Country, 2015

Country Population (1) Rank
Afghanistan 32,564,342 41
Algeria 39,542,166 34
Angola 19,625,353 59
Argentina 43,431,886 33
Australia 22,751,014 56
Austria 8,665,550 95
Azerbaijan 9,780,780 92
Bangladesh 168,957,745 9
Belarus 9,589,689 93
Belgium 11,323,973 78
Benin 10,448,647 88
Bolivia 10,800,882 82
Brazil 204,259,812 6
Burkina Faso 18,931,686 60
Burma 56,320,206 25
Burundi 10,742,276 84
Cambodia 15,708,756 69
Cameroon 23,739,218 53
Canada 35,099,836 39
Chad 11,631,456 77
Chile 17,508,260 64
China 1,367,485,388 1
Colombia 46,736,728 30
Congo, Democratic Republic of the 79,375,136 20
Cote d'Ivoire 23,295,302 55
Cuba 11,031,433 80
Czech Republic 10,644,842 85
Dominican Republic 10,478,756 87
Ecuador 15,868,396 68
Egypt 88,487,396 16
Ethiopia 99,465,819 14
European Union 513,949,445 3
France 66,553,766 22
Germany 80,854,408 18
Ghana 26,327,649 49
Greece 10,775,643 83
Guatemala 14,918,999 71
Guinea 11,780,162 76
Haiti 10,110,019 89
Honduras 8,746,673 94
Hungary 9,897,541 90
India 1,251,695,584 2
Indonesia 255,993,674 5
Iran 81,824,270 17
Iraq 37,056,169 37
Israel 8,049,314 99
Italy 61,855,120 24
Japan 126,919,659 11
Jordan 8,117,564 98
Kazakhstan 18,157,122 61
Kenya 45,925,301 31
Korea, North 24,983,205 51
Korea, South 49,115,196 28
Madagascar 23,812,681 52
Malawi 17,964,697 63
Malaysia 30,513,848 43
Mali 16,955,536 66
Mexico 121,736,809 12
Morocco 33,322,699 40
Mozambique 25,303,113 50
Nepal 31,551,305 42
Netherlands 16,947,904 67
Niger 18,045,729 62
Nigeria 181,562,056 8
Pakistan 199,085,847 7
Peru 30,444,999 44
Philippines 100,998,376 13
Poland 38,562,189 35
Portugal 10,825,309 81
Romania 21,666,350 58
Russia 142,423,773 10
Rwanda 12,661,733 74
Saudi Arabia 27,752,316 47
Senegal 13,975,834 73
Somalia 10,616,380 86
South Africa 53,675,563 26
South Sudan 12,042,910 75
Spain 48,146,134 29
Sri Lanka 22,053,488 57
Sudan 36,108,853 38
Sweden 9,801,616 91
Switzerland 8,121,830 97
Syria 17,064,854 65
Taiwan 23,415,126 54
Tajikistan 8,191,958 96
Tanzania 51,045,882 27
Thailand 67,976,405 21
Togo 7,552,318 100
Tunisia 11,037,225 79
Turkey 79,414,269 19
Uganda 37,101,745 36
Ukraine 44,429,471 32
United Kingdom 64,088,222 23
United States 321,368,864 4
Uzbekistan 29,199,942 46
Venezuela 29,275,460 45
Vietnam 94,348,835 15
Yemen 26,737,317 48
Zambia 15,066,266 70
Zimbabwe 14,229,541 72

(1) Estimate for July 2015. Includes the 100 largest countries.

Source: U.S. Central Intelligence Agency.

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Gross Domestic Product By Country, 2015

 

  Gross domestic product (1)
Country (U.S. $ billions) Rank
Algeria $578.7 34
Angola 184.4 65
Argentina 972.0 26
Australia 1,489.0 19
Austria 404.3 47
Azerbaijan 169.4 68
Bahrain 64.8 100
Bangladesh 577.0 35
Belarus 167.7 70
Belgium 494.1 39
Bolivia 74.4 95
Brazil 3,192.0 8
Bulgaria 133.9 77
Burma 283.5 56
Cameroon 72.6 96
Canada 1,632.0 16
Chile 422.4 44
China 19,390.0 1
Colombia 667.4 32
Costa Rica 74.9 94
Cote d'Ivoire 78.6 92
Croatia 91.1 85
Cuba 128.5 (2) 79
Czech Republic 332.5 51
Denmark 258.7 59
Dominican Republic 149.7 74
Ecuador 183.4 66
Egypt 1,048.0 24
Ethiopia 161.6 72
European Union 19,180.0 2
Finland 225.0 62
France 2,647.0 11
Germany 3,841.0 6
Ghana 114.7 82
Greece 286.0 55
Guatemala 125.9 81
Hong Kong 414.6 45
Hungary 258.4 60
India 7,965.0 4
Indonesia 2,842.0 9
Iran 1,371.0 20
Iraq 544.1 37
Ireland 257.4 61
Israel 281.9 57
Italy 2,171.0 13
Japan 4,830.0 5
Jordan 82.7 89
Kazakhstan 429.1 43
Kenya 141.9 75
Korea, South 1,849.0 14
Kuwait 288.4 54
Lebanon 83.1 88
Libya 92.6 84
Lithuania 82.4 90
Macau 65.4 99
Malaysia 815.6 29
Mexico 2,227.0 12
Morocco 273.5 58
Nepal 70.1 98
Netherlands 832.6 28
New Zealand 168.2 69
Nigeria 1,092.0 23
Norway 356.2 49
Oman 171.4 67
Pakistan 931.0 27
Panama 87.2 87
Peru 389.1 48
Philippines 741.0 30
Poland 1,005.0 25
Portugal 289.8 53
Puerto Rico 131.9 78
Qatar 319.8 52
Romania 413.8 46
Russia 3,718.0 7
Saudi Arabia 1,683.0 15
Serbia 97.5 83
Singapore 471.9 42
Slovakia 161.0 73
South Africa 723.5 31
Spain 1,615.0 17
Sri Lanka 223.0 63
Sudan 167.0 71
Sweden 473.4 41
Switzerland 482.3 40
Taiwan 1,099.0 22
Tanzania 138.5 76
Thailand 1,108.0 21
Tunisia 127.0 80
Turkey 1,589.0 18
Turkmenistan 88.6 86
Uganda 79.9 91
Ukraine 339.5 50
United Arab Emirates 647.8 33
United Kingdom 2,679.0 10
United States 17,950.0 3
Uruguay 71.4 97
Uzbekistan 187.9 64
Venezuela 515.7 38
Vietnam 552.3 36
Yemen 75.5 93

(1) Estimate. Based on Purchasing Power Parity calculations, which take into account the relative cost of living and inflation rates of countries. Includes 100 largest countries based on 2015 GDP.
(2) 2014 Estimate.

Source: U.S. Central Intelligence Agency.

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