Date of publication
24 July 2023

Preliminary 2022 Data

24/07/2023 - This statistical release provides a short snapshot of the latest trends in the insurance sector in a selection of OECD and non-OECD jurisdictions. Preliminary data show that rising inflation and interest rates had negative repercussions for insurers’ underwriting and investment performance in 2022. Life insurance business volume shrank in real terms in many jurisdictions due to changing macroeconomic conditions while non-life business grew at a low rate. Inflation also fuelled increases in claims pay-outs in the non-life sector. Rising interest rates led to losses on insurer bond holdings, leading to investment losses for most insurers.

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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 and now covers 61 jurisdictions. In addition to the 38 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 also

Key statistics on insurance

Global Insurance Statistics (GIS) database