Date of publication
Insurers achieved lower profits in 2022 than in the previous year
20/12/2023 - This statistical release provides a snapshot of the latest trends in the insurance sector in a selection of OECD and non-OECD jurisdictions. Insurers managed to record profits in 2022 despite challenges from the changing macro-economic environment. However, these profits were lower than in 2021, as the underwriting profits and investment gains fell. Their equity capital also tended to fall, especially for those operating in the life sector. This is likely a result of the unrealised losses on securities that were reflected through a downward revaluation of reserves in 2022.
About the report
The insurance industry is a major component of the economy by virtue of the amount of premiums it collects, the scale of its investment and, more fundamentally, the essential social and economic role it plays by covering personal and business risks.
This annual report monitors global insurance market trends to support a better understanding of the overall performance and health of the insurance industry. The report is compiled using data from the OECD Global Insurance Statistics (GIS) database. The geographical reach of the GIS database is constantly expanding. In addition to OECD countries, it covers a number of non-OECD Latin American countries – achieved through cooperation with the Association of Latin American Insurance Supervisors (ASSAL) – and selected non-OECD jurisdictions in the Asian region and elsewhere.
This monitoring report and its associated database represent a rich source of comparable, global cross-country data on insurance markets. They provide a comprehensive source of information that can be used by governmental authorities (regulators, finance ministries, and central banks), the insurance sector, research community, and consumers, to monitor and analyse the insurance sector.
See alsoOECD insurance statistics publication