Commercial Insurance

World Life And Nonlife Insurance Direct Premiums Written, 2017-2019 (1)

(US$ millions)

Year Life Nonlife (2) Total
2017 $2,723,040 $3,066,759 $5,789,799
2018 2,882,179 3,266,841 6,149,020
2019 2,916,267 3,376,333 6,292,600

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

Source: Swiss Re, sigma database, sigma No. 4/2020.

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Cross-Border And International Sales

The U.S. Department of Commerce provides estimates on two methods of international delivery of insurance services: cross-border trade, in which a domestic company transacts directly with a foreign company (for example, a European firm purchasing insurance from a U.S. firm through a broker); and sales by subsidiaries of multinational corporations (for example, sales to the European market through a European-based subsidiary of a U.S. insurer). The combination of these methods of delivery creates a broad measure of insurance services provided and received from abroad.

U.S. Insurance Sales Abroad, 2010-2019

(US$ millions)

Year Sold directly (1) Sold through majority-owned
foreign affiliates of U.S.
multinational corporations (2)
2010 $14,854 $58,379
2011 14,673 59,942
2012 15,978 64,346
2013 15,768 65,239
2014 16,277 67,126
2015 15,464 63,746
2016 16,249 62,509
2017 18,223 60,441
2018 17,904 63,626
2019 16,238 NA

(1) Largely based on premiums. Includes adjustments for "normal" i.e., expected losses and premium supplements (income due to policy holders). BEA refers to this category as "cross border sales." Includes property/casualty, life insurance and reinsurance.
(2) Based on sales by primary industry of the affiliate; there could be other services, such as financial services, included in the data.

NA=Data not available.

Source: U.S. Department of Commerce, Bureau of Economic Analysis, International Division.

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Insurance Business In The U.S. Written By Subsidiaries Of Foreign-Controlled Companies, 2013-2017

(US$ millions)

  Gross premiums written
          2017
  2013 2014 2015 2016 Amount Percent of total
Life $143,429 $150,000 $145,373 $154,523 $163,386 63.2%
Nonlife 74,219 76,306 78,314 92,272 95,229 36.8
Total  $217,648 $226,306 $223,687 $246,795 $258,615 100.0%

Source: Organization for Economic Cooperation and Development.

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