Figure 1.1:
Data cover all reporting jurisdictions.
Figure 1.2:
Income group classifications follow the World Bank country classification for the fiscal year 2026, based on Gross National Income (GNI) per capita. High-income, upper-middle‑income and lower-middle‑income groups are as defined by the World Bank.
The following jurisdictions are classified as high-income: Australia, Austria, Belgium, Canada, Chile, Costa Rica, Czechia, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Iceland, Ireland, Israel, Italy, Japan, Korea, Latvia, Lithuania, Luxembourg, the Netherlands, New Zealand, Norway, Poland, Portugal, the Slovak Republic, Slovenia, Spain, Sweden, Switzerland, the United Kingdom, the United States, Bermuda, Bulgaria, Croatia, Hong Kong (China), Panama, Puerto Rico, Romania, Singapore, Chinese Taipei and Uruguay.
The following jurisdictions are classified as upper-middle‑income: Argentina, Brazil, Colombia, Cuba, Dominican Republic, Ecuador, El Salvador, Guatemala, Indonesia, Malaysia, Mexico, Montenegro, Paraguay, Peru, South Africa, Sri Lanka, Thailand, Türkiye.
The following jurisdictions are classified as lower-middle‑income: Bolivia, Egypt, Honduras, India, Morocco, Nicaragua and Tunisia.
Figure 1.3:
Data refer to direct insurance business only. Penetration rates in Ireland capture cross-border business. The high insurance penetration in Luxembourg reflects the cross-border activities of insurance companies. Data for the Slovak Republic exclude branches of foreign insurers operating in the Slovak Republic and insurance contracts concluded through the free provision of services (free passport) via a branch or without establishing a branch. The average for all business may slightly differ from the sum of the average life and non-life insurance penetration as the averages may be calculated on a slightly different number of jurisdictions for life insurance, non-life insurance and total business.
Figure 2.1:
Data refer to the gross premiums written in the non-life sector for all undertakings (i.e. domestic undertakings and branches and agencies of foreign undertakings operating in the reporting jurisdiction) except when only data on domestic undertakings are available. Gross premiums written increased in nominal terms by 7.5% in the life sector and 5.7% in the non-life sector in Chinese Taipei (results in real terms not available).
Figure 2.3:
The nominal growth rate of life gross claims payments is not shown for Türkiye (91.8%) for readability purposes. Data for Bermuda, El Salvador, Malaysia and Türkiye include reinsurance accepted. Gross claims payments increased by 7.8% in the non-life sector in Chinese Taipei in nominal terms (results in real terms not available). For Romania, claims data refer to gross claims incurred rather than gross claims paid. Negative figures reflect cases where changes in outstanding claims reserves exceed claims paid during the reporting period. For Croatia, claims data in the quantitative questionnaire are based on Solvency II reporting and include both claims paid and changes in technical provisions.
Figure 2.4:
Combined ratios are reported by supervisory authorities in their responses to the qualitative questionnaire of the OECD Global Insurance Statistics exercise. The underlying formula and methodology may therefore differ across jurisdictions. For Nicaragua, the combined ratio covers the insurance sector as a whole, as administrative expenses are not reported separately by insurance segment. For Bulgaria, the combined ratio is calculated by type of insurance company (non-life or composite) without further dividing the activities of composite companies into life or non-life lines of business. For Korea, the combined ratio may not be fully comparable with other jurisdictions, as gross claims paid data exclude refunds related to long-term insurance products, while gross premiums include long-term insurance premiums. 2024 data are not available for Argentina, Austria, Iceland and Korea.
Figure 3.1:
Data refer to the gross premiums written in the life sector for all undertakings (i.e. domestic undertakings and branches and agencies of foreign undertakings operating in the reporting jurisdiction) except when only data on domestic undertakings are available. The nominal premium growth rate is not shown for Türkiye (77.8%) and the nominal and real premium growth rates are not shown for Bermuda (‑61.0% and ‑61.8% respectively) for readability purposes. Gross premiums written increased in nominal terms by 7.5% in Chinese Taipei (results in real terms not available).
Figure 3.2:
The growth rate of life gross claims payouts is not shown for Türkiye (91.8%) for readability purposes. Data for Bermuda, El Salvador, Malaysia, Türkiye and the United States include reinsurance accepted. Gross claims payments decreased by 8.1% in Chinese Taipei in nominal terms (results in real terms not available).
Figure 4.1:
Average annual real net investment rates of return are calculated based on the nominal annual net investment rates of return reported by jurisdictions for 2025 and the variation of the consumer price index over the same period.
Figure 4.2:
Data exclude assets linked to unit-linked products where risk is fully borne by policyholders. The “Others” category includes investments in loans, private equity funds, hedge funds, structured products and other investments. Negative values in some categories for some jurisdictions were excluded from the calculations of the asset allocation.
Data on collective investment schemes may be understated for some jurisdictions where assets held through collective investment schemes have been apportioned to the underlying asset classes.
Figure 5.1:
The return on equity (ROE) was calculated by dividing net income in 2025 by the average shareholder equity in 2024 and 2025.
Figure 5.2:
Change in equity position is calculated as the change in shareholder equity divided by the level of shareholder equity of the previous year. (1) For Austria, the evolution of shareholder equity for life insurers is affected by the merger of a life insurance undertaking into a composite undertaking during 2025. (2) For Bulgaria, life insurance data for 2024 refer to a single undertaking and are not representative of the sector. From 2025, this undertaking is reported under composite insurers. (3) For Czechia, life insurer shareholder equity data are not disclosed due to confidentiality. The decline in non-life insurer shareholder equity reflects the conversion of one non-life insurer into a foreign branch during 2025. (4) For France, changes in shareholder equity are affected by a reclassification of one or more undertakings between entity types during the reference period. For Israel, data for 2025 reflect the first year of application of IFRS 17, which may affect the comparability of shareholder equity and net income with prior years.
Figure 6.1:
The total number of respondents is 39 jurisdictions.
Figure 6.2:
Source: Swiss Re, sigma database. All rights reserved. The insured share of total economic losses is calculated as insured losses divided by total economic losses from natural catastrophes.
