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» Life insurance statistics, year 2006

Country Total Gross premiums*, bil USD Density (Direct gross premiums / Population)**, USD per capita Penetration (Direct gross premiums / GDP)*** Life Insurance share ratio**** Retention ratio (Net written premiums / Total gross premiums)***** Ratio of reinsurance accepted (Reinsurance accepted / Total gross premiums)******
Australia 29 571 1 435 3.6 57.7 94.6 4.59
Austria 8 873 1 071 2.5 41.7 85.1 0.86
Belgium 26 044 2 469 6.5 70.1 97.1 0.35
Canada 43 857 1 344 3.2 40.0 87.6 8.23
Czech Rep. 2 091 204 1.5 38.7 97.2 0.00
Denmark .. .. .. .. .. ..
Finland 3 687 700 1.8 47.2 99.9 0.16
France 180 293 2 939 8.1 61.6 93.6 5.38
Germany 92 920 1 128 3.4 33.5 94.3 0.85
Greece 2 879 258 1.1 48.0 97.4 0.21
Hungary 1 961 195 1.7 50.4 92.9 0.01
Iceland 41 134 0.3 8.7 75.1 5.76
Ireland 36 729 8 673 16.5 80.1 98.3 1.75
Italy 96 418 1 650 4.9 65.4 97.5 4.86
Japan 238 635 1 868 5.5 74.2 99.1 2.64
Korea 69 819 1 446 7.9 66.4 96.2 0.02
Luxembourg 13 420 29 207 31.5 91.3 80.4 0.24
Mexico 6 791 65 0.8 44.6 97.0 0.32
Netherlands 32 197 1 970 4.8 56.1 97.6 0.42
New Zealand .. .. .. .. .. ..
Norway 8 535 1 828 2.5 52.6 101.0 0.00
Poland 6 802 178 2.0 56.2 99.0 0.35
Portugal 10 785 1 019 5.5 66.6 98.6 0.16
Slovak Rep. 855 159 1.6 47.3 94.6 0.00
Spain 31 907 724 2.4 44.2 91.2 0.78
Sweden 16 390 1 805 4.2 54.4 98.6 0.37
Switzerland 22 400 2 993 5.8 53.4 99.0 0.75
Turkey 968 13 0.2 16.4 96.7 0.00
United Kingdom 256 635 4 236 10.6 67.7 92.4 1.22
United States 527 483 1 762 4.6 37.9 85.4 10.59
             
Israel 3 846 .. .. 47.0 95.8 0.00
Russia 607 .. .. 3.7 .. ..

* Gross premium, which represents total insurance premium written in the reporting country, is a major indicator of the importance of insurance industry in the economy of each country.

** This indicator is calculated by dividing direct gross premiums by the population and represents the average insurance spending per capita in a given country.

*** This is the ratio of direct gross premiums to Gross Domestic Product (GDP), which represents the relative importance of the insurance industry in the domestic economy.

**** This is the ratio of gross life insurance premium to total gross premium, which measures the relative importance of life insurance as compared to non‑life insurance.

***** This is the ratio of net written premiums to total gross premiums. This ratio represents the proportion of retained business and thus, indirectly, the importance of reinsurance for domestic insurance companies.

****** This is calculated by dividing reinsurance accepted by total gross premiums and provides an indication of the significance of reinsurance accepted in the national insurance market.