Page 18 - Insurance Times November 2019

Life Risk 330 18% 60
Premiums
A. Life Premiums 2820 2.2% 60

General Insurances:

1. Motor OD/TPL 775 1.5% 15
2. Accident 120 20% 25

3. Health 640 1.5% 10
4. Liability 180 2.5% 6
5. Credit 22 18% 5
6. Engineering 25 20% 5
Risk Premiums out of Total Global Life Premiums US$ 300
Billion. 7. Property 400 20% 80
8. Marine 34 25% 9
Overall Reinsurance Requirements thus came down to 9. Agriculture 34 25% 9
around 2% of US$ 2820 Billion.
10. Others 143
B. Total 2373 8.42% 200
General Insurance Premiums of US$ 2373 Billion have
almost 60% comprising of Motor OD/TPL and Health when A+B 5193 5% 260
Reinsurance Requirement is slightly less than 2% of the
premium of US$ 1428 Billion. For Motor & Health portfolio Overall Reinsurance Premium Outgo
i.e. US$ 25 Billion. Ratio Marketwise:

Out of the remaining classes around 20% to 25% is Global RI Premium
Reinsurance Premium outgo which means around 18% of is US$ 260 Billion
US$ 950 Billion i.e. US$ 170 Billion. 1. USA/Canada 38%

2. Advance & emerging Markets 22%
Thus, overall Reinsurance Premiums of Non-Life business of Europe/Africa
are approximately US$ 215 Billion. We may round them off
3. China 8%
at US$ 200 Billion.
4. Advanced Asia Pacific 15%
Approximate Estimated Reinsurance 5. Emerging Asia excluding China 5%

Premiums for 2018: 6. Others 12%
(Amount in USD Billion) Total: 100%

Class Gross Reinsurance Amount Conclusions:
Premiums Premiums only
Global Reinsurance Premiums Estimated as per SIGMA
Life (Maturity 2490 --- ---
Reports provide very reliable data and this information may
Claims Business
be very useful for Reinsurance Personnel in Afro- Asian
as Savings)
Markets.
!! Hearty Congratulations !!

Thanks readers for excellent response for our Insurance Quiz published in our October 2019 issue. This month the
lucky winners of the Quiz is R. Surya Prakash.
Who will be the next?????
Who will be the next?????
Who will be the next?????
Who will be the next?????
Who will be the next?????
18 The Insurance Times, November 2019