Global Insurance Market Trends 2021

 
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 25
GLOBAL INSURANCE MARKET TRENDS 2021 © OECD 2022 
References 
BIS. (2021). 
BIS Quarterly Review - International banking and financial market developments (March 
2021).
Central Bank of Iceland. (2021). 
Financial Supervision 2021.
EIOPA. (2021). 
Financial Stability Report - July 2021.
FINMA. (2021). 
Insurance market report 2020.
Giattino, C., Ritchie, H., Roser, M., Ortiz-Ospina, E., & Hasell, J. (2021). 
Excess mortality during the 
Coronavirus pandemic (COVID-19)
. Retrieved from https://ourworldindata.org/excess-mortality-
covid 
Insurance Europe. (2021). 
European insurance: Preliminary figures 2020.
OECD. (2015). 
OECD Business and Finance Outlook 2015.
Paris: OECD Publishing. 
OECD. (2021). 
Global Insurance Market Trends 2020.
Swiss Re. (2021). 
World insurance: the recovery gains pace.
The Life Insurance Association of Japan. (2021). 
Life Insurance Fact Book.

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26
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GLOBAL INSURANCE MARKET TRENDS 2021 © OECD 2022 
Annex A.
 
Statistical tables 
Table A A.1. Average real net investment rates of return by type of domestic insurer in selected 
jurisdictions, 2019-2020 
In per cent 
Note: In some jurisdictions (such as Germany), there is no composite undertaking (i.e. no company operating both in the life and non-life 
segments as defined by the OECD). (1) Data are expressed in nominal terms. 
Source: OECD Global Insurance Statistics. 
2019
2020
2019
2020
2019
2020
Argentina (1)
40.3
55.3
40.2
52.1
38.5
53.9
Australia
11.8
-4.1
3.1
1.4
..
..
Belgium
1.9
0.3
1.1
0.4
1.6
1.6
Bermuda (1)
7.4
6.0
4.7
3.0
..
..
Bolivia
1.8
3.9
1.6
3.8
..
..
Brazil
1.1
-4.1
3.6
2.0
0.7
-3.3
Chile
5.0
4.4
3.1
2.3
..
..
Colombia
5.2
4.5
3.8
5.1
..
..
Costa Rica
..
..
3.5
7.5
4.1
6.6
Czech Republic
c
c
-1.8
0.4
-0.4
-0.2
Ecuador
6.5
..
7.5
..
4.7
..
El Salvador
3.9
2.7
4.7
1.5
4.2
4.2
Estonia
c
c
-0.4
1.6
..
..
Germany
3.2
3.3
1.1
2.3
..
..
Guatemala
..
..
1.7
0.0
2.8
0.6
Hungary
-2.6
-1.1
-1.0
-0.8
2.6
2.7
Iceland
1.6
-0.7
5.6
6.3
..
..
Indonesia
3.7
1.9
3.3
4.1
..
..
Ireland
9.4
4.5
3.2
2.6
..
..
Israel
..
..
4.9
..
9.3
..
Italy
2.7
2.7
2.3
1.6
3.0
3.1
Japan
0.9
3.2
1.7
2.5
..
..
Korea
3.0
2.9
2.8
2.6
..
..
Latvia
..
..
-0.3
6.0
10.1
9.8
Lithuania
-1.2
0.2
-1.4
0.7
-0.3
2.0
Luxembourg
0.7
1.1
-0.2
0.2
..
..
Malaysia
8.3
9.8
5.6
7.1
..
..
Mexico
5.1
4.1
2.1
1.4
1.8
0.9
Montenegro
4.1
4.2
1.2
3.0
..
..
New Zealand
3.7
2.6
3.2
1.8
7.6
4.8
Norway
6.7
3.4
3.9
3.1
..
..
Peru
5.9
3.9
7.5
5.1
7.2
4.6
Poland
1.5
2.2
-0.2
0.9
..
..
Portugal
2.9
-1.0
2.2
2.7
2.5
3.5
Singapore
9.5
7.4
2.1
2.2
9.2
8.6
Slovenia
..
1.1
-0.5
2.1
0.1
2.9
South Africa
..
-0.1
..
-0.2
..
0.7
Spain
1.2
2.3
0.5
1.5
2.3
3.2
Sri Lanka
3.6
..
3.0
..
..
..
Sweden
4.5
2.5
6.5
3.1
..
..
Switzerland
3.0
3.1
6.9
5.7
..
..
Chinese Taipei (1)
3.5
3.5
3.2
3.5
..
..
Turkey
-3.2
-7.0
1.4
-1.4
..
..
United States
1.8
2.4
0.8
1.3
..
..
Uruguay
..
..
-4.9
-2.3
1.6
1.3
Life
Non-Life
Composite

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GLOBAL INSURANCE MARKET TRENDS 2021 © OECD 2022 
Table A A.2. Return on equity by type of insurer in selected jurisdictions, 2019-2020 
In per cent 
Note: ROE was calculated by dividing net income for the year N by average shareholder equity over N-1 and N. (1) Data refer to conventional 
products only. 
Source: OECD Global Insurance Statistics. 
2019
2020
2019
2020
2019
2020
Argentina
49.3
33.3
13.4
15.6
35.1
15.8
Australia
0.4
-2.2
11.9
-1.2
..
..
Belgium
6.9
5.2
3.3
3.1
20.7
15.7
Bermuda
..
13.5
..
9.8
..
..
Bolivia
4.4
3.0
4.3
16.8
..
..
Brazil
19.5
6.3
18.0
20.9
28.1
20.9
Bulgaria
-4.8
0.5
24.5
31.8
20.7
15.0
Chile
8.5
13.6
7.9
3.8
..
..
Colombia
18.8
9.4
9.8
10.2
..
..
Costa Rica
..
..
5.8
16.5
6.8
8.3
Czech Republic
29.6
28.0
11.9
12.2
21.0
18.3
Denmark
7.1
4.5
17.2
14.8
..
..
El Salvador
11.9
3.3
1.9
8.3
12.8
6.0
Estonia
c
c
19.0
16.1
..
..
Finland
21.7
19.3
15.6
11.1
..
..
France
7.8
3.7
6.5
5.0
6.9
5.5
Germany
4.8
1.7
3.9
3.9
..
..
Guatemala
..
..
16.5
18.5
25.2
28.2
Hungary
8.4
10.3
10.7
13.7
30.3
32.1
Iceland
41.3
45.2
20.5
20.6
..
..
Indonesia (1)
20.2
1.5
13.8
8.2
..
..
Israel
..
..
22.4
13.5
5.8
13.1
Italy
14.8
8.1
9.7
12.6
12.8
12.5
Japan
10.5
16.0
11.1
12.0
..
..
Latvia
..
..
17.2
28.3
12.5
2.9
Lithuania
36.7
27.3
16.4
15.7
6.2
6.8
Luxembourg
11.0
5.3
1.4
3.1
..
..
Malaysia
21.0
32.1
11.5
13.0
..
..
Mexico
19.3
13.8
22.8
23.9
28.0
20.5
Norway
7.5
6.7
18.9
14.2
..
..
Peru
17.0
7.8
12.3
17.7
20.7
11.6
Poland
9.6
8.2
12.0
9.8
..
..
Portugal
2.4
7.3
10.8
12.5
5.4
6.4
Singapore
..
11.8
..
4.8
..
12.0
Slovenia
..
..
8.9
11.2
11.2
9.1
Spain
10.1
7.2
12.5
15.7
10.9
11.2
Sweden
22.8
..
26.2
..
..
..
Switzerland
10.4
7.7
24.2
13.0
..
..
Chinese Taipei
9.2
9.4
10.8
10.8
..
..
Turkey
42.4
39.3
23.5
27.7
..
..
United States
11.1
6.2
9.0
8.7
..
..
Uruguay
..
..
..
12.8
..
20.8
Life
Non-Life
Composite

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GLOBAL INSURANCE MARKET TRENDS 2021 © OECD 2022 
Table A A.3. Change in equity position by type of insurer in selected jurisdictions, 2019-2020 
In per cent 
Note: Change in equity position is calculated as the change in shareholder equity divided by the level of shareholder equity from the previous 
year. (1) Data refer to conventional products only. 
Source: OECD Global Insurance Statistics.
2019
2020
2019
2020
2019
2020
Argentina
49.9
100.5
37.3
92.4
57.1
83.8
Australia
-1.7
3.6
1.1
3.8
..
..
Austria
-27.2
..
5.2
..
4.2
..
Belgium
1.4
-68.5
30.3
35.1
27.6
-3.8
Bermuda
..
40.8
..
38.8
..
..
Bolivia
-69.5
-4.2
-84.4
5.3
..
..
Brazil
11.8
3.3
9.5
12.7
12.6
0.9
Bulgaria
0.0
12.3
0.3
6.1
5.9
-0.8
Chile
14.7
5.4
19.0
15.7
..
..
Colombia
14.9
-2.4
12.2
10.1
..
..
Costa Rica
..
..
16.8
16.8
14.9
0.3
Czech Republic
16.6
32.0
13.9
1.7
-12.0
-1.2
Denmark
0.8
2.1
4.0
6.5
..
..
Egypt
..
-5.7
..
-3.7
..
..
El Salvador
4.0
5.3
6.3
12.0
-4.6
-7.4
Estonia
c
c
14.9
-9.4
..
..
Finland
10.9
15.1
15.1
13.0
..
..
France
51.7
4.8
5.1
1.5
-11.2
4.0
Germany
6.0
2.6
3.9
4.1
..
..
Greece
57.6
4.0
12.5
7.9
6.3
4.0
Guatemala
..
..
2.6
3.9
3.3
9.5
Hungary
-4.6
10.4
-2.4
5.1
3.7
14.6
Iceland
-3.3
-0.5
17.3
22.4
..
..
Indonesia (1)
-28.4
-14.2
12.7
5.0
..
..
Ireland
15.2
3.3
29.9
2.3
..
..
Israel
..
..
17.3
34.0
-0.5
16.0
Italy
18.9
9.6
11.2
14.1
4.6
4.8
Japan
-2.4
8.8
0.6
-2.9
..
..
Latvia
..
..
11.8
23.7
435.8
16.8
Lithuania
3.1
31.2
15.5
41.8
-28.0
16.4
Luxembourg
14.6
3.1
151.7
11.1
..
..
Malaysia
5.7
12.2
-4.6
7.0
..
..
Mexico
2.6
6.7
16.1
16.6
9.6
11.5
Norway
5.6
7.0
9.7
5.2
..
..
Peru
12.1
1.8
7.7
12.1
25.3
6.1
Poland
-1.6
1.7
-1.2
5.6
..
..
Portugal
11.2
4.5
17.8
6.3
17.0
16.8
Singapore
..
26.9
..
-2.7
..
5.8
Slovenia
..
..
7.2
13.4
9.6
11.4
Spain
-4.2
-1.6
3.4
13.9
12.8
5.1
Sweden
15.8
..
26.3
..
..
..
Switzerland
-1.1
-9.6
25.2
-11.7
..
..
Chinese Taipei
77.1
30.5
15.0
6.9
..
..
Turkey
28.2
15.6
34.4
28.4
..
..
United Kingdom
7.1
1.6
-23.5
3.9
-0.1
2.5
United States
5.9
6.0
14.7
6.4
..
..
Uruguay
..
..
..
39.2
..
14.3
Life
Non-Life
Composite

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