This report provides an update of the Mutual Market Share 2005-2006 report which was published and distributed to ICMIF members in June 2009. It includes updated market share information for the years 2006-2007.
Whilst collating the data for 2007, the opportunity has been taken to update the published 2006 data to take account of data made available following its earlier publication. Therefore, some changes to figures will be noted.
The sample has also been extended to include data from 60 countries (45 last year), representing 99% du marché mondial de l'assurance selon les chiffres Re suisse, et en fournissant des données sur les parts de marché de plus 2,500 sociétés.
The objectives of this report, and the definitions and research methodology that have been used remain as stated in the previous 2005-2006 report.
The mutual market share at the end of 2007 was 22.6% showing a slight decrease from 2006 of 23.6%. Of the largest ten insurance countries, representing 78% of the world market, five of them have over 25% of their markets in mutual and cooperative businesses, namely, Germany 44%, Japan 42%, France 38%, USA 28% and The Netherlands 26%.
La part de marché mondiale pour les affaires non-vie a été 26.5% (down slightly from 27% in 2006), the global market share for life business was 19.9% (down from 21.3% in 2006).
Mutuelles : Le Top 500
The list of the top 500 mutual and cooperative insurers globally has also been updated. This is derived from a sample of 2,500 mutual and cooperative insurers (2,350 in the last edition). The insurers are ranked by premiums, with further analysis between life and non-life business, and shows the fastest growing companies in both. All data is based on 2007 year end business results.
Together, the Global 500 mutual/cooperative insurers represent 98% of the total premiums of the mutual/cooperative market; and 22% of the world insurance market. The split between life and non-life business has widened in favour of the life insurance busines, with USD 472 billion in life (USD 434 billion in 2006) and USD 427 billion in non-life (USD 410 billion in 2006). Thus, in terms of year-on-year growth (2006 to 2007), life business grew at 0.3%, considerably lower than total life business growth of 14.9%; while non-life grew at 4.6% compared to market growth of 8.8%.
The largest 20 mutual/cooperative insurers include eight from the USA, four from Japan, three from France, two from Germany and one each from Italy, Spain and the Netherlands, representing a real global spread of the mutual/cooperative insurance sector. The split between life business and non-life business is also well balanced, with four being predominantly non-life companies, six mostly life, and ten composites, showing the role of mutuals/cooperatives in all business lines.
The ICMIF Mutual Market Share 2006-2007 and Global 500 report is available free of charge to members of ICMIF. Non-members wishing to obtain a copy of the report at a cost of GBP 325 should initially contact Shaun Tarbuck.