World Insurance

Market integration among the countries over the world has largely benefited to the financial market. In the congruous direction the insurance industry over the world has grown very fast.


The statistics on the world insurance conducted by Swiss Re shows that world insurance premium reached at $3.4 trillion as in the year 2005. Both premium collections from life and non-life sources increased by 3.9 percent and 0.6 percent respectively.


Developed countries over the world have a better insurance coverage. But in the recent years the developing nations have captured a better market share in the insurance business.

Leading countries over the world in the insurance business and their respective life and non-life premiums as in the year 2005 are as follows:

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

Countries	Non-Life Premiums	Life Premiums	Total Amount
U.S.	$625,838	$517,074	$1,142,912
Japan	100,523	375,958	476,481
U.K.	100,629	199,612	300,241
France	68,162	154,058	222,220
Germany	107,026	90,225	197,251
Italy	47,453	91,740	139,194
South Korea	24,085	58,848	82,933
Canada	44,267	34,456	34,456
Netherlands	29,159	31,914s	61,073
Spains	34,757	25,518	60,275
Source: Swiss Re, sigma, No. 5/2006