Currently showing: Funding longer lives > Health/medicine


09 Apr 15 10:54

Dear community,

In 2013, primary life insurance premiums paid throughout the world were (in mio of USD):
- Europe: 946,727
- America: 665,556
- Asia: 898,413
- Oceania: 47,455
- Africa: 49,939
Source: Sigma - World insurance in 2013: steering towards recovery, p. 35

In the same year, life reinsurance business represented 55 billion. 70% of that amount originated in the US, Canada and the UK (Swiss Re's 2013 annual report, p. 19). 

Does anyone know why life reinsurance is so strong in these three countries? Is there any cultural factor involved? Or maybe any legal factor?
I found information that the US life reinsurance new business started booming from 1994 / 95 but couldn't find information on the reason behind it.

Thank you
Xavier


Category: Funding longer lives: Health/medicine, Long-term care, Longevity risk, Pension/retirement, Social contract, Other


3 Comments

Rashunda Tramble - 9 Apr 2015, 12:15 p.m.

Hi Xavier. You can contact our Economic Research and Consulting department directly through this page: http://www.swissre.com/sigma/

Xavier Theodoloz - 9 Apr 2015, 1:48 p.m.

Thank you Rashunda. I will do so!

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