Expertise publications

Expert analysis of risk topics in regional markets and the global re/insurance industry.




Critical illness insurance in Canada

Critical illness insurance in Canada

The current product structure of the standalone, fully-guaranteed individual critical illness insurance product was launched in Canada more than 20 years ago. Yet penetration remains low at 3%. Scientific advances and next-generation medical diagnostics could undermine the viability of current CI products due to heightened risk of over-diagnoses and anti-selection. Could changing the current long-term guaranteed model benefit consumers and insurers in Canada alike?

Pension schemes in Latin America: addressing the challenges of longevity

We define the pension gap as the difference between the capital required to replace 65% of the pre-retirement income at the point of retirement, and the capital that is projected to be accumulated under mandatory contribution rates. This Expertise Publication estimates the pension gap in the six largest markets in Latin America - Argentina, Brazil, Chile, Colombia, Mexico and Peru – at USD 2.2 trillion. The paper explores the various options these countries have for closing the pension gap, as well as how the insurance industry can help protect individuals against mortality and longevity risks.


January 2018: Japan's commercial insurance market

Japan’s commercial insurance market is the fourth largest in the world with total premiums of USD 38 billion in 2016. Penetration (premiums as a percentage of gross domestic product (GDP)) has been rising in recent years, but is still low relative to other advanced markets. Commercial insurance penetration in Japan was 0.8% of GDP in 2016, compared to 1.6% in the US and 2.4% in the UK. By line of business, motor accounted for close to 42% of commercial insurance premiums in 2016. The next biggest lines were property (17.5% of premiums) and liability (17.2%).



Global insurance review 2017 and outlook 2018 /19

Global growth prospects continued to improve during 2017 and a recession next year is unlikely. Even so, only moderate growth is expected this year, with real gross domestic product (GDP) estimated to increase by slightly more than 2% in the US and Euro area, by about 1.5% in the UK, and by 6.8% in China.