The Insurance Industry in OECD members

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.

Since the early 1980s, the OECD has collected and analysed data on insurance in OECD countries such as the number of insurance companies and employees, insurance premiums and investments by insurance companies. The launch of the Global Insurance Statistics project in 2008 extended the global reach of the database and expanded the insurance framework to include the collection of key balance sheet and income statement items for the direct insurance and reinsurance sectors. (OECD web-site)

For insurance companies total premium is revenue, so that indicator illustrates demand of insurance services. Also number of undertakings shows situation in local market.