In response to the financial crisis, a Global Insurance Statistics (GIS) project was launched as part of the OECD's insurance market monitoring activities. The main objectives were to expand the scope of the OECD's statistical framework for insurance and extend its global reach, with a view to enhancing transparency. These changes have led to the collection of key balance sheet and income statement items for the direct insurance and reinsurance sectors, and to the gradual global expansion of the OECD's international insurance statistics database.
As a complement to its insurance market statistics, the OECD decided to initiate the publication of an annual monitoring report that would make use of the GIS database and provide an overview of market trends for developing a better understanding of the insurance industry's overall performance and health. This first edition of the Global Insurance Market Trends is an important step in that direction. Over time, this report will be extended to cover additional countries and other aspects of insurance and reinsurance.
This monitoring report and the GIS database will provide an increasingly valuable cross-country source of data and information on the insurance sector developments, for use by governmental and supervisory authorities, central banks, the insurance sector and broader financial industry, consumers, and the research community.