2017年の世界の保険: 堅調ではあるが成熟した生 …c8b71ce0-6ee5-42d4-bbbf...swiss...

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No 3 /2018 2017年の世界の保険: 堅調ではあるが成熟した生命 保険市場が成長の足かせに 01 エグゼクティブサマリー 03 2017年の世界経済と 金融市場 08 世界の保険市場 22 先進国 28 新興市場 35 方法論とデータ 37 統計付録

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  • No 3 /2018

    2017

    01

    03 2017

    08

    22

    28

    35

    37

  • 50

    1 1968 71 19511966

    1969 19691980 73 222 1970

    institute.swissre.com/sigma50years 50

  • Swiss Re sigma No 3/2018 1

    2017 GDP 1 3.3% CEE

    20171.5% 2016 2.2% 2

    5

    ROE 3

    10

    2017

    1 201720072016

    *

    2017 07~16 * 2017 07~16 * 2017 07~16

    2.7% 0.2% 1.9% 0.9% 0.6% 0.3%

    14% 8.3% 6.1% 8.4% 10% 8.4%

    0.5% 0.9% 2.8% 2.1% 1.5% 1.4%

    1 GDP GDP

    2

  • 2 Swiss Re sigma No 3/2018

    20170.5%26,57020161.4 14% 5.8% CEE

    2017 2.8% 2 2,340 2016 3.3% 10 10% CEE

    2017

    1 2017 sigmaexplorer

    10.0

    10.05.0

    5.02.5

    2.50.0

    0.02.5

    2.55.0%

    5.010.0%

    10.0

    2017

    http://www.sigma-explorer.com/explorer/map/index_map.php?indis=rpgr&modi=tot|&regi=WOR&ext=1]
  • Swiss Re sigma No 3/2018 3

    2017

    2017 GDP3 2016 2.6% 3.3% GDP 2008~2009 2007~2016 2.5% 2 GDP 2016 1.7% 2.3% 4.0% 4.8%

    2017 GDP 2.3% 2016 1.5 2.5% 2 2017 2.5% 2.0 2016 1.91.1 GDP 1.5% GDP 1.7% EU 2.7% 20171.7%

    1.01.6% 2017 6.9 6.6% 2016 11 4 2018

    20173.3%

    2 GDP 2017

    IHS-Markit

    WIIW

    0% 2% 4% 6% 8% 10%

    200720162017

    (3.8%)

    /(1.5%)

    /(3.1%)

    /(1.5%)

    (5.9%)

    6.9%

    (3.5%)

    (4.8%)

    (2.4%)

    (2.2%)

    (2.5%)

    (2.3%)

    (2.3%)

    (3.3%

    GDP

    GDP 2017

    3 GDP GDP

  • 4 Swiss Re sigma No 3/2018

    2017

    CEE EU 4% CIS 2017 4% 2018 2017 2016 1.5% 2.3%

    1.5% 2016 4.0% GCC GDP 0.7% 2017 GDP 6.9% 2016 3.3% GDP 1990 1.7% 2017 3.8%

    2.7% 2.1% 1.5% 0.6% CEE EU

    FRB 2017 3 BoE EU BoE 2% 2018 2019 ECB 2018 9 300 BoJ

    2017 2017113% 2018 3 6.5% PBoC 2017 4 PBoC2018 4 PBoC

    EU CEE GDP CIS

    2017

    4

  • Swiss Re sigma No 3/2018 5

    30 bps 3 2018 2014 3

    3 2007120184

    UK

    Japan

    France

    Germany

    US

    -1%

    0%

    1%

    2%

    3%

    4%

    5%

    6%

    2018

    2017

    2016

    2015

    2014

    2013

    2012

    2011

    2010

    2009

    2008

    2007

    2017

    4 2016120184 % 20161231100

    MSCI34.4DAX3011.4

    MSCI7.222519.1S&P50019.4%

    70

    80

    90

    100

    110

    120

    130

    140

    150

    20184

    20181

    201710

    20177

    20174

    20171

    201610

    20167

    20164

    20161

    2017

  • 6 Swiss Re sigma No 3/2018

    2017

    2017 4 S&P500 20 MSCI 34% 2017 2018

    2018 3.4%2019 3.1% 2018 GDP3% 2019 2018 2018 1.3 GDP 2018 1.5% 2019 2019 102

    2018 2018 2.3% 2018 1.5% ECB 2 2020 2%

    CIS 2018 2019 7% 10

    FRB ECB BoJ

    2017 2018

    2018 2019

    2018 BoJ

  • Swiss Re sigma No 3/2018 7

    2019 FRB ECB

    2018 3

  • 8 Swiss Re sigma No 3/2018

    20172016 2.2% 1.5% 5 2017 2016 47,030 4 8,920 2016 2017 2.7% 2016 1.9% 20171.9% 14% 6.1% 23

    6 1960 GDP 7 19901

    20082009

    2017

    5 1960~2017 sigmaexplorer

    Total

    Life

    Non-life

    2015

    2010

    200

    5

    200

    0

    199

    5

    199

    0

    198

    5

    198

    0

    1975

    1970

    196

    5

    196

    0

    -10%

    -5%

    0%

    5%

    10%

    15%

    20%

    http://www.sigma-explorer.com/explorer/map/index_map.php?indis=rpgr&modi=tot|&regi=WOR&ext=1]
  • Swiss Re sigmaNo3/2018 9

    5

    GDP

    6 GDP 7.

    Real GDP

    Non-Life

    Life

    Real GDP

    Non-Life

    Life

    -2%

    0%

    2%

    4%

    6%

    8%

    10%

    12%

    14%

    -2%

    0%

    2%

    4%

    6%

    8%

    10%

    12%

    14%

    2010200019901980197020102000199019801970

    GDP GDP

    5 S 1996 6

  • 10 Swiss Re sigma No 3/2018

    2017 0.5 2 6,570 7 1.4 2017 2.7 10 14% 10 8.3%

    3.5% 1.9% 3 2.1% 2

    2017 21% 10 14 2 1/2 11% 5.8% CEE CEE

    2017

    7 2017

    *

    20% 10% 0% 10% 20%

    Growth rate 2017Annual average growth rate 2007-2016

    20072016

    20182019*

    2017

    (14%)(5.8%)21%(9.7%)/(1.1%)/(12%)/(7%)(0.3%)

    (2.7%)(3.5%)(1.9%)(2.1%)(18%)

    0.5%

  • Swiss Re sigma No 3/2018 11

    9 2.1ppt 0.8ppt 0.6ppt 0.5ppt 0.3ppt CEE 0.1ppt 0.4ppt

    8 2017 sigma explorer

    10.0

    10.05.0

    5.02.5

    2.50.0

    0.02.5

    2.55.0%

    5.010.0%

    10.0

    9 2017

    0.5 ppt

    -0.8 ppt

    -0.6 ppt

    -0.5 ppt

    -0.3 ppt

    0.0 ppt

    0.03 ppt

    0.04 ppt

    0.1 ppt

    0.4 ppt

    2.1 ppt///

    2017

    http://www.sigma-explorer.com/explorer/map/index_map.php?indis=rpgr&modi=tot|&regi=WOR&ext=1]
  • 12 Swiss Re sigma No 3/2018

    /

    ROE 10 2017 ROE 11% 2017 ROE 10%

    10 32ROE

    13ROE50%

    IFRSGAAP32CNO

    Unum

    EmeklilikPLC

    AA

    T&D

    5%

    0%

    5%

    10%

    15%

    20%

    25%

    2006

    2007

    2008

    2009

    2010

    2011

    2012

    2013

    2014

    2015

    2016

    2017

    2006

    2007

    2008

    2009

    2010

    2011

    2012

    2013

    2014

    2015

    2016

    2017

    2006

    2007

    2008

    2009

    2010

    2011

    2012

    2013

    2014

    2015

    2016

    2017

    50%

    10%

    11%11%

  • Swiss Re sigma No 3/2018 13

    IFM 6

    15 64 WEF 7 201770 2050 400 75% 24% 1% 8

    S&P500 2017 3,750 1.6% 9

    10 5 1/3 15%

    2050 400

    10

    6 2017 6 :

    7100 2017 5http://www3.weforum.org/docs/WEF_White_Paper_We_Will_Live_to_100.pdf8 IIF 2018 318

    9ECB 2018 ECB 2018 2https://www.ecb.europa.eu/pub/economic-bulletin/html/eb201802.en.html

  • 14 Swiss Re sigma No 3/2018

    2017 2.8% 2 2,340 2 10 2.1% 11 20176.1% 2016 9.8% 1.9% 3 1.5ppt 1.35ppt: 13

    2.8% 2016 10

    11 2017

    *

    2.5% 2.5% 7.5% 12.5% 17.5%

    20072016

    20182019*

    2017

    2.8% (1.9%)(2.5%)(1.0%)(1.4%)(2.6%) (6.1%)(2.5%)10%(9.7%)/(0.9%)/(3.3%)/(4.1%)(1.0%)

  • Swiss Re sigma No 3/2018 15

    20171.9% 2016 1.7% 10 0.9% 2.6% 2016 10

    2017 6.1% 2016 9.8% 10 8.4% 2016 20% 201710% 2017 2.5% 2016 2.1% 9.7% 2 CEE 3.3% EU 20170.9% 2016 6.0% 1.0%

    12 2017sigma explorer

    10.0

    10.05.0

    5.02.5

    2.50.0

    0.02.5

    2.55.0%

    5.010.0%

    10.0

    http://www.sigma-explorer.com/explorer/map/index_map.php?indis=rpgr&modi=tot|&regi=WOR&ext=1]
  • 16 Swiss Re sigma No 3/2018

    2017 13 1.0ppt 0.3ppt

    10

    2017 2016 2017 301 2016 329 183 118 2017 3,370 2016 1,800 2 101,900 2,440

    2017 1,380 60 3 3 920 1,930

    13 2017

    //

    / 2.8 ppt

    -0.03 ppt

    0.01 ppt

    0.1 ppt

    0.1 ppt

    0.1 ppt

    0.1 ppt

    0.2 ppt

    0.3 ppt

    1.0 ppt

    1.0 ppt

    2017 301 3,370

    1,440

    10 2018120171

  • Swiss Re sigma No 3/2018 17

    3 2017 ROE 5.1% 14 9.7% 8 2016 99.4% 2017101.8% 2017 94~95%

    2017

    14 8 % 1999~2018ROE

    %

    -15%

    -10%

    -5%

    0%

    5%

    10%

    15%

    20%

    2018F2017E201620152014201320122011201020092008200720062005200420032002200120001999

    E=F =

  • 18 Swiss Re sigma No 3/2018

    2017 / 2016 128%130%

    2017 2018 2019

    2017

    15 8 19992018

    2018F2017E201620152014201320122011201020092008200720062005200420032002200120001999

    0

    200

    400

    600

    800

    1000

    1200

    1400 10

    0%

    20%

    40%

    60%

    80%

    100%

    120%

    140%

    E=F =

  • Swiss Re sigmaNo3/2018 19

    CEE EU 2018 2017

  • 20 Swiss Re sigma No 3/2018

    1960 50

    50 60

    1970 2 1950 GDP GDP 6 2GDP 1970

    1960 1970 8 1 GDP 1981111960 1970 1980 2000

    1980 1980 1980 1995 5

    -6

    -3

    0

    3

    6

    9

    12

    15

    18

    19

    61

    19

    65

    19

    70

    19

    75

    19

    80

    19

    85

    19

    90

    19

    95

    20

    00

    20

    05

    20

    10

    20

    15

    20

    17

    19602017

    19601970

    19602017

    EMEA

    EMEA

    8

    6

    4

    2

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    8

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    4

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    8

    2.5

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    0

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    0.5

    Swiss Re sigma No 3/2018 21

    1960 50

    1990 2000 9.11 9.11

    2 2000 20082009 2010

    78

    10 100 50

    19602017

    1960

    1977

    1997

    2017

    77%

    17%

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    54%29%

    14%

    34%

    32%

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    18%

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    15%

    -6

    -3

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    18

    19

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    19

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    19

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    20

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    EMEA

    EMEA

  • 22 Swiss Re sigma No 3/2018

    201778

    2016 0.3 20170.61.538,190 2016 80.0 201778.1

    2016 1.9 2017 2.7 GDP2.3 /GDP 2917 16

    2017 2016 1.9 GDP 3.6 2919GDP

    2017

    GDP

    16 2017 GDP sigma explorer

    2017

    GDP

    0.5% 1.0% 1.5% 2.0% 2.5% 3.0% 3.5%

    25%

    -20%

    -15%

    -10%

    -5%

    0%

    5%

    10%

    15%

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    2017GDP

    http://www.sigma-explorer.com/explorer/map/index_map.php?indis=rpgr&modi=tot|&regi=WOR&ext=1]
  • Swiss Re sigma No 3/2018 23

    20171 1.1 3,517 17 11.1 1,899 1 3.8 1,618 2017

    20171

    17 2017

    EU15

    1

    0% 5% 10% 15% 20% 25%

    GDP

    0 1000 2000 3000 4000 5000 6000 7000 8000 9000

  • 24 Swiss Re sigma No 3/2018

    2017 4.0 2016 0.7 / ROE 12 4.5 2016 0.8 20171.6 2 2017 2017

    2018 2018 2019 2018

    2017 2.6 2015 2017 105ROE5 2016 1.5 20171.7 2017 2016 99201796ROE201658

    2018 2019 ROE 78 2017 /

    20173.5

    2018

    2017 2.5

    2017

    10

    598 23%

    898 40%

    Growth rate 2016

    -4.00

    -2.25

    -0.50

    1.25

    3.00

    Growth rate 2016

    Non-lifeLife-4%

    -3%

    -2%

    -1%

    0%

    1%

    2%

    3%

    20072016

    2017

  • Swiss Re sigma No 3/2018 25

    2017 0.7% 2.7 1.8 3 1.9 8.4 3.2 4.3 0.9 5.1 2017 7.4 7.5 2016 SCR 100 2017 49 SCR 187 11 SCR

    20171.020160.5 10 0.5 1.31.1 Ogden EU 2010 2016 2017 0.5

    2017 95 12 95 Ogden 100 99

    20171.9

    20171.0

    2017

    10

    840 32%

    577 26%

    Growth rate 2016

    -2

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    0

    1

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    -1%

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    2017

    11 2018 1

    12

  • 26 Swiss Re sigma No 3/2018

    2017 2.1 2016 3.8 0.25 13 2017 6.1 201611 14 2 6.5 6.7 33 2017 22

    2018 4

    2016 2.920171.4 201746715

    2018 23 201711 2016 9 2017

    2017

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    231 10%

    Growth rate 2016

    -3

    -2

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    0

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    34

    5

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    20072016

    2017

    13 2017 41 0.25 142018 4 15 2017 3 2016

  • Swiss Re sigma No 3/2018 27

    3 201718 19 DI 16 2017 2.3

    2018 2019 2017 172018 2017 9 18 2018 19

    20161.620172.6 2.5 20162.4 2017 3.7

    201712 201711133 0.2 1 20

    2017

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    10

    34 1.3%

    57 2.5%

    Growth rate 2016

    -20

    -15

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    -5

    0

    5

    Growth rate 2016

    Non-lifeLife-20%

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    20072016

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    16 17 https://www.fsc.org.au/policy/life-insurance/code-of-practice/182016 https://www.aph.gov.au/Parliamentary_Business/Bills_Legislation/bd/bd1617a/17bd06919 http://www.mbie.govt.nz/info-services/business/business-law/financialadvisers/review-of-financial-advisers-act-2008/regulations-to-support-the-financial-serviceslegislation-amendment-bill 20https://www.eqc.govt.nz/news/budget-announcement-eqc-levy-to-increase

  • 28 Swiss Re sigma No 3/2018

    201710% 2016 14 14%1720 20171.9 21.9%

    201714% 2016 17% 4.8% GDP 53 27 18 GDP

    20176.1% 2016 9.8% GDP 54 27

    2017

    2017

    18 2017 GDP sigma explorer

    AE=,CN=,CR=,DO=,EC=,ID= ,IN=,KZ=,LT=,NA=,NG=,OM=

    ,PL=,RO=,RU=,SI=,SK=,TR=,

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    2017

    20%

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    2017GDP

    GDP

    http://www.sigma-explorer.com/explorer/map/index_map.php?indis=rpgr&modi=tot|&regi=WOR&ext=1]
  • Swiss Re sigmaNo3/2018 29

    2017113%16619 92 73 GDP 2016 3.2% 2017 3.3%

    20171

    19 2017

    0 500 1000 1500 2000

    Non-life premiums per capita

    1

    0% 3% 6% 9% 12% 15%GDP

  • 30 Swiss Re sigma No 3/2018

    201718% 2016 23% 2017 21% 2016 29% 27% 24% 20177.7%2016 4.9% 8.0% 2016 9.1%

    GDP 2018 21 RBCII IFRS 17

    2017

    80% 1015% 201710% 2016 20% 201710% 9.7% 2016 12% 2016 2017 3.7% 3.8% 2017 2017 60

    2018

    2017

    2018

    2017

    201710

    2017

    10

    448 17%

    272 12%

    Growth rate 2016

    0

    5

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    20

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    Growth rate 2016

    Non-lifeLife0%

    5%

    10%

    15%

    20%

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    20072016

    2017

    212018 1 MSCI 2017

  • Swiss Re sigma No 3/2018 31

    20171.1% 2016 7.3% 10 8.6% 75% VidaGeradordeBeneficiosLivres VGBL 2016 6.3% 20171.2% 2016 12% 20171.0% II 2016 6.3% 18% 5.6% 2016 9.9%

    2018 2019 1

    2016 6.0% 2017 0.9% 10 5.8% 20164.1%20171.6% 7.3% 0.9% 5.4% 2016 9 AMIS 15 5,000

    2018 2017 2017

    2

    2017

    10

    78 2.9%

    90 4.0%

    2%

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    10%Growth rate 2016

    -2

    0

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    6

    8

    10

    Growth rate 2016

    Non-lifeLife

    20072016

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  • 32 Swiss Re sigma No 3/2018

    /

    CEE 2016 201712% 90% 48% 1.4% 10% 22 5.7%

    2 2016 2017

    2017 CEE 3.3% 2016 4.8% GDP EU CEE 14% 6.6% 3.9% 5.4% 9.1% 250% 2017

    CEE EU 2018 23 CIS

    2017 / CEE

    / EU

    2017

    10

    19 0.7%

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    Growth rate 2016

    0

    24

    6

    8

    10

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    Growth rate 2016

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    0%

    2%

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    20072016

    2017

    2223 http://newtariffs.ru/news/protiv-perehoda-osago-na-svobodnye-tarify-progolosovalo-bolshe-40-procentov-rossiyan>> 2018 413

  • Swiss Re sigma No 3/2018 33

    24

    2017 7.5%201615% 23% 3.2% 201612% 20173.3% 2016 13% 2016 20171.9% 2017 3.7% 2011

    GCC GCC

    2017 2.1% 2016 10% 2017 4 2017 3.0% 2016 21% 20171 201714% 2016 18% 2016 11% 2017

    2017 7.5%

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    10

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    0%

    2%

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    200720162017

    24

  • 34 Swiss Re sigma No 3/2018

    2016 1.0 2017 2017 85 2017 18% 12 12 9.7 6 5.1 3.1 3.7% 20 39

    20171.0 2016 44 1.3 2017 9.9 7.3 7.5% 5.0 3.0 5.6 15

    2017

    10

    45 1.7%

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    Growth rate 2016

    0123

    456789

    Growth rate 2016

    Non-lifeLife0%

    1%

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    20072016

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  • Swiss Re sigma No 3/2018 35

    147 88 www.sigma-explorer.com

    IMF

    IMF 25

    1 IMF IHS-Markit

    2016 0.6% 1.3% 0.3 .

    1.

    2.

    3.

    EU OECD

    10 GDP

    147

    IMF

    25

  • 36 Swiss Re sigma No 3/2018

    26 GDP

    26

  • Swiss Re sigma No 3/2018 37

    1

    2

    3 GDP1

    4

    5

    6 34

    7

    8

    9 4

    10 2001

    11

    12

    13 2017412018331

    14 20173212018320

    15 2016712017630

    16 201671201763020122013

    17 246

    18

    19 IIF2

    20 2013200320037163020022002712003630

    + * **

  • 38 Swiss Re sigma No 3/2018

    1 2017

    GDP 11

    1 2017 2016 2017 2016 2017 2017 2017

    1 664 522 1 616 070 0.0 1.0 34.03 6.27 1 657.2 1496634 1463310 0.0 1.1 30.60 7.11 4119.7/ 167888 152760 0.1 0.4 3.43 3.06 261.9

    1 479 197 1 448 819 0.5 0.3 30.24 6.45 1 651.1 1416184 1394667 0.7 0.4 28.95 7.28 2568.1/ 63013 54 152 5.8 3.5 1.29 1.92 197.9

    1 590 688 1 486 574 5.7 7.2 32.52 5.62 359.5 810 858 811 370 1.1 2.1 16.58 10.51 3754.5 2 719778 619362 14.7 21.0 14.71 4.06 187.7/ 60052 55 842 5.0 7.5 1.23 2.12 163.5

    66 691 59 408 0.5 1.0 1.36 2.96 53.8 90 597 91 968 6.2 5.4 1.85 5.62 2 236.0 3 4 891 694 4 702 841 1.5 2.2 100.00 6.13 649.8

    4 3819644 3763386 0.6 0.3 78.08 7.76 3516.7 5 1 072 050 939455 10.3 13.7 21.92 3.34 165.6 530604 473 324 4.2 4.1 10.85 2.62 104.8

    OECD 6 3682760 3648225 1.1 0.6 75.29 7.18 2752.6G77 7 2822106 2 817 433 1.2 1.2 57.69 7.57 3629.5 973953 949320 1.3 0.5 19.91 7.07 2613.5EU 1357895 1332688 0.6 0.5 27.76 7.19 2429.1EU15 1315086 1294517 0.8 0.6 26.88 7.62 2953.4NAFTA 8 1521927 1 487 215 0.0 1.3 31.11 6.85 3089.3ASEAN 9 102999 90199 11.4 6.6 2.11 3.63 155.6

    676 593 676 760 3.1 0.2 25.46 2.55 673.6 598392 606551 3.5 0.6 22.52 2.84 1647.2/ 78 201 70209 1.1 7.3 2.94 1.42 122.0

    858 025 850 956 1.6 1.0 32.29 3.77 965.3 839509 835 870 1.9 1.0 31.59 4.36 1537.7/ 18516 15086 12.2 0.1 0.70 0.56 58.1

    1 043 690 975 306 5.6 5.5 39.28 3.69 236.2 580 003 586692 2.1 3.8 21.83 7.54 2692.8 2 448 237 374 805 17.7 22.5 16.87 2.53 116.9/ 15 450 13 810 7.0 7.8 0.58 0.54 42.0

    44 899 39 465 0.3 1.0 1.69 2.00 36.2 34 063 39 484 17.9 13.3 1.28 2.11 840.7 3 2 657 270 2 581 972 0.5 1.4 100.00 3.33 353.0

    4 2059481 2074941 2.7 1.9 77.50 4.19 1898.5 5 597790 507 031 13.8 17.1 22.50 1.86 92.3 280219 244 415 5.8 6.1 10.55 1.39 55.3

    OECD 6 1918093 1953223 3.7 2.7 72.18 3.74 1432.0G77 7 1459897 1 503 544 3.8 3.4 54.94 3.97 1904.1 555096 548 787 3.0 1.5 20.89 3.92 1447.2EU 806292 801109 1.8 1.0 30.34 4.30 1454.5EU15 792019 787954 1.9 0.9 29.81 4.63 1793.0NAFTA 8 610236 617740 3.5 0.4 22.96 2.75 1238.7ASEAN 9 74 812 63399 15.2 8.5 2.82 2.70 115.5

    987 929 939 310 2.2 1.5 44.21 3.72 983.6 898242 856759 2.5 2.4 40.20 4.27 2472.6/ 89687 82 551 0.9 6.0 4.01 1.63 139.9 621 171 597 863 1.1 0.8 27.80 2.68 685.8 576674 558797 1.0 0.5 25.81 2.92 1030.4/ 44497 39066 3.3 4.8 1.99 1.36 139.7 546 998 511 268 5.8 10.6 24.48 1.93 123.3

    230 855 224678 1.4 2.9 10.33 2.97 1061.7 2 271 541 244 558 10.1 18.7 12.15 1.53 70.8/ 44602 42 032 4.1 7.1 2.00 1.57 121.5

    21 792 19 943 1.0 1.1 0.98 0.97 17.6 56 533 52 484 2.6 1.6 2.53 3.50 1 395.3 3 2 234 424 2 120 869 2.8 3.3 100.00 2.80 296.8

    4 1760163 1688445 1.9 1.7 78.77 3.57 1618.2 5 474261 432 424 6.1 9.8 21.23 1.48 73.2 250 385 228909 2.5 2.1 11.21 1.24 49.5

    OECD 6 1764667 1695002 1.8 1.8 78.98 3.45 1320.7G77 7 1362209 1313889 1.9 1.5 60.96 3.60 1725.4 418 857 400 533 0.9 0.9 18.75 3.16 1166.3EU 551602 531579 1.2 0.3 24.69 2.88 974.6EU15 523067 506562 0.8 0.0 23.41 2.99 1160.4NAFTA 8 911691 869474 2.5 2.5 40.80 4.10 1850.6ASEAN 9 28 187 26800 2.6 2.3 1.26 0.94 40.1

  • Swiss Re sigmaNo3/2018 39

    2 2017

    % %

    2017 2016 2015 2017 2016 2017 2016 10 1 377 114 * 1349981 1 318 485 2.0 2.4 0.1 1.1

    11 155 130 * 150229 146320 3.3 2.7 1.6 1.2 0.0 1.1

    265933 * 253519 229656 4.9 10.4 1.4 1.5 478249 * 446743 396675 7.1 12.6 1.0 9.5 19 272 217 211 027 153 322 29.0 37.6 2.2 2.7 8625922 * 8301193 7 408 342 3.9 12.1 1.2 8.7 26238720 23849430 21 507 230 10.0 10.9 5.5 3.1 11 327 11256 11 744 0.6 4.2 2.3 7.5 2046 1618 2 232 26.4 27.5 25.9 28.7 3830156 * 871509 323 535 339.5 169.4 68.1 41.7 45 207 38 531 34 478 17.3 11.8 10.5 1.9 1 444 1359 1359 6.2 0.0 5.3 0.8 749330 654715 564060 14.5 16.1 12.6 16.1 7167 7624 7 103 6.0 7.3 10.2 4.1 49354 40589 35628 21.6 13.9 17.7 12.1 6802 6313 5966 7.7 5.8 3.4 1.3 758 769 1.5 2.2 598 633 5.5 6.7 84995 0.1 0.4

    219810 * 214660 215167 2.4 0.2 0.3 0.9 213 877 214561 215918 0.3 0.6 1.3 0.8 197389 * 194115 193856 1.7 0.1 0.1 0.4 137663 * 144259 151967 4.6 5.1 5.7 5.0 69946 * 70193 71 840 0.4 2.3 1.7 2.6 62451 + 62910 55 047 0.7 14.3 2.6 14.5 * 53 587 * 50 211 * 6.7 6.9 57 018 + 57 740 59162 1.3 2.4 1.8 2.0 312 510 287866 299791 8.6 4.0 6.6 4.9 30 727 * 29759 29979 3.3 0.7 1.1 2.7 218759 * 210 858 194501 3.7 8.4 2.6 8.1 26851 * 24 738 24 384 8.5 1.4 6.3 1.4 23156 * 22 335 23 830 3.7 6.3 2.9 6.6 1 277 585 1180632 1023819 8.2 15.3 4.4 7.7 163642 * 162264 158993 0.8 2.1 1.0 1.5 17063 17006 17 404 0.3 2.3 1.7 3.2 60340 + 54090 53653 11.6 0.8 9.4 1.5 11 724 * 10981 * 12789 * 6.8 14.1 5.3 14.7 43978 39496 30286 11.3 30.4 0.2 21.0 150 488 146866 153 450 2.5 4.3 0.0 4.9 5 070 3 510 3 282 44.4 6.9 43.7 7.4 4 153 * 3 844 * 3 845 8.0 0.0 6.7 0.9 3906 * 3890 3 725 0.4 4.5 0.7 5.3 936206 + 875065 828 055 7.0 5.7 4.5 5.3 9999 * 9387 8 535 6.5 10.0 5.1 11.7 2179 2 033 1975 7.2 2.9 5.7 3.0 2 134 1903 1981 12.1 3.9 10.7 3.4 43 432 35 170 29736 23.5 18.3 8.6 3.8 9056 8761 8709 3.4 0.6 2.2 1.7 2 145 + 2 005 1895 7.0 5.8 4.8 6.7 814 + 765 706 6.4 8.4 5.7 9.7 93094 + 89138 80926 4.4 10.1 1.3 8.9 0.5 0.3

    3658101 + 3095911 2 428 252 18.2 27.5 16.4 25.0 13 46964660 * 48905610 53 184 020 4.0 8.0 4.5 8.0 13 200837900 * 203 250 300 196443000 1.2 3.5 2.9 2.2 3576310 3279319 3062796 9.1 7.1 8.4 5.6 6301680 * 5494467 4662762 14.7 17.8 10.1 12.8 477 557 + 441 084 362922 8.3 21.5 6.7 18.7 39813 * 34199 32149 16.4 6.4 15.7 6.9 816614 * 780065 746789 4.7 4.5 4.0 4.3 320 572 100 + 254 170 400 218 357 100 26.1 16.4 21.5 12.4 62730 + 58 153 54869 7.9 6.0 7.6 6.6 13 64462 * 61248 58 413 5.2 4.9 1.9 2.5 12 UAE 49655 * 43 881 * 36954 13.2 18.7 11.0 16.9 36439 * 36855 36496 1.1 1.0 0.3 1.0 14 311 254 500 280176000 228439000 11.1 22.6 0.4 12.5 282386 * 253 301 252 477 11.5 0.3 8.4 0.9 105611000 * 87362000 70163000 20.9 24.5 16.8 21.3 273952 258 281 233 280 6.1 10.7 1.9 6.7 2463516 * 2368686 2299660 4.0 3.0 0.5 3.8 108298 * 106345 * 99388 1.8 7.0 3.7 1.4 467 * 412 407 13.4 1.1 11.6 0.0 332 012 323176 263308 2.7 22.7 4.4 7.1 137 458 * 119373 15.1 10.7 606 * 583 552 4.0 5.7 0.7 6.5 249 * 241 * 245 3.4 1.8 1.8 4.6 286 * 272 273 5.3 0.3 3.8 3.0 5.7 7.2

    636544 * 604358 580 020 5.3 4.2 0.1 2.0 36214 * 34920 30 212 3.7 15.6 3.0 13.7 206766 195230 172 540 5.9 13.2 2.0 6.4 15 23 508 * 17 334 15 457 35.6 12.1 9.8 1.8 134 550 130973 128685 2.7 1.8 2.8 4.3 12 845 * 11226 10 844 14.4 3.5 7.8 3.0 291585 * 279554 + 277 557 4.3 0.7 10.5 12.9 1 841 1663 10.8 6.8 * 101 000 * 96900 * 4.2 22.6 0.5 1.0

    20 104 443 110 518 115 840 5.5 4.6 7.3 5.8 16 14 337 * 13609 13 704 5.3 0.7 3.4 1.3 6.2 5.4

    1.5 2.2

  • 40 Swiss Re sigma No 3/2018

    3 2017

    2017

    2017 2016 2017 1 10 1 377 114 * 1349981 2.0 0.1 28.15

    9 11 119520 * 113329 5.5 1.6 2.44 1 496 634 1 463 310 2.3 0.0 30.60

    12 83 315 * 72 754 14.5 1.4 1.70

    26 25293 * 23905 5.8 1.0 0.5233 19 16435 14291 15.0 2.2 0.3437 13294 * 12263 8.4 1.2 0.2743 8890 7809 13.8 5.5 0.1851 3 473 3 334 4.2 2.3 0.0757 2046 1618 26.4 25.9 0.0459 1 714 * 4 241 59.6 68.1 0.0463 1576 1 277 23.4 10.5 0.0364 1 444 1359 6.2 5.3 0.0367 1 331 1216 9.5 12.6 0.0371 1062 1 144 7.1 10.2 0.0272 1 040 881 18.1 17.7 0.0277 932 831 12.2 3.4 0.0284 780 ** 758 2.9 0.0287 746 ** 718 3.9 0.0288 732 ** 707 ** 3.5 0.01

    3 784 3657 0.08 167 888 152 760 9.9 0.1 3.43

    4 283 331 * 290855 2.6 0.3 5.795 241603 ** 237 417 1.8 1.3 4.946 222978 * 214793 3.8 0.1 4.568 155509 * 159626 2.6 5.7 3.18

    14 79013 * 77670 1.7 1.7 1.6215 70 547 + 69611 1.3 2.6 1.4416 64306 * 59295 * 8.5 1.3118 57904 + 58612 1.2 1.8 1.1820 36580 33633 8.8 6.6 0.7521 34 710 * 32929 5.4 1.1 0.7122 33 141 * 31 321 5.8 2.6 0.6823 30 277 * 27 381 10.6 6.3 0.6225 26158 * 24 714 5.8 2.9 0.5329 21898 17607 24.4 4.4 0.4530 19790 * 19315 2.5 1.0 0.4031 19275 ** 18 818 2.4 1.7 0.3934 15970 + 13 708 16.5 9.4 0.3338 13 243 * 12 151 * 9.0 5.3 0.2739 12 054 13 072 7.8 0.2 0.2544 6438 6009 7.1 0.0 0.1346 5149 ** 3563 ** 44.5 43.7 0.1147 4691 * 4 253 * 10.3 6.7 0.1049 4 412 * 4 305 2.5 0.7 0.0952 3 411 + 3 108 9.8 4.5 0.0754 2467 * 2 313 6.7 5.1 0.0555 2462 2 251 9.4 5.7 0.0556 2 410 ** 2106 14.5 10.7 0.0561 1633 1376 18.6 8.6 0.0365 1367 1 287 6.2 2.2 0.0368 1236 + 1 134 9.0 4.8 0.0378 920 + 847 8.6 5.7 0.0280 864 + 801 7.8 1.3 0.02

    3 448 2941 0.07 1 479 197 1 448 819 2.1 0.5 30.24

    2 541446 + 466131 16.2 16.4 11.073 13 422 050 * 451 433 6.5 4.5 8.637 13 181 218 * 176909 2.4 2.9 3.70

    10 117 474 101 448 15.8 8.4 2.4011 13 98003 * 81897 19.7 10.1 2.0017 61286 + 56826 7.8 6.7 1.2524 28 831 * 24 754 16.5 15.7 0.5927 24062 * 22 100 ** 8.9 4.0 0.4928 23960 + 19105 25.4 21.5 0.4932 17426 + 15 142 15.1 7.6 0.3635 13 15 405 * 14 550 5.9 1.9 0.3136 12 13 521 * 11949 * 13.2 11.0 0.2841 9717 * 9828 1.1 0.3 0.2042 14 9166 ** 8907 2.9 0.4 0.1945 5602 * 5 334 5.0 8.4 0.1148 4651 * 3908 19.0 16.8 0.1053 2598 ** 2465 5.4 1.9 0.0560 1634 * 1 571 4.0 0.5 0.0366 1 345 * 1 355 * 0.7 3.7 0.0370 1 214 * 1 071 13.4 11.6 0.0273 1 018 945 7.8 4.4 0.0274 987 ** 944 * 4.5 0.0276 964 ** 887 ** 8.8 0.0281 854 * 821 4.0 0.7 0.0282 821 * 797 * 3.0 1.8 0.0286 762 * 724 5.3 3.8 0.02

    4671 4 774 0.10 1 590 688 1 486 574 7.0 5.7 32.52

    19 47796 * 41 080 16.4 0.1 0.9850 3 718 * 3561 4.4 3.0 0.0858 2 000 ** 1923 4.0 2.0 0.0462 15 1 587 * 2 125 25.3 9.8 0.0369 1 215 ** 1197 1.6 2.8 0.0275 965 * 763 26.4 7.8 0.0279 902 * 1 103 + 18.2 10.5 0.0283 814 ** 857 5.1 0.0285 780 * 617 * 26.4 0.02

    6914 6183 0.14 66 691 59 408 12.3 0.5 1.36

    13 20 80061 82 171 2.6 7.3 1.6440 16 10186 * 9477 7.5 3.4 0.21

    349 320 0.01 90 597 91 968 1.5 6.2 1.85

    4 891 694 4 702 841 4.0 1.5 100.00

  • Swiss Re sigma No 3/2018 41

    4 2017

    %

    %

    2017 2016 2015 2017 2016 2017 2016 10 546800* 557604 554 731 1.9 0.5 4.0 0.7

    11 66964* 64885 63439 3.2 2.3 1.6 0.8 0.2 4.2

    149617 142 887 123619 4.7 15.6 1.2 6.3

    223944* 209111 181918 7.1 14.9 1.0 11.8 5446513* 5263465 4 541 207 3.5 15.9 0.8 12.4 8269299 7509037 6357440 10.1 18.1 5.6 9.9 19 41 011 34664 24642 18.3 40.7 6.3 0.5 5356 5 113 5618 4.7 9.0 1.7 12.1 19075 14 707 11672 29.7 26.0 22.1 14.9 3 477 3867 3046 10.1 27.0 14.1 23.2 431 347 355 24.4 2.3 23.9 3.9 371 342 321 8.5 6.4 7.5 5.6 33696 224 195 14.6 13.7 111 184 101 881 72 182 9.1 41.1 7.4 41.2 1 418 1 271 1176 11.5 8.1 7.0 3.5 8 480 7 453 6314 13.8 18.0 10.1 16.2 89890* 20 453 5119 339.5 299.5 68.1 13.5 24 31 22.1 23.1

    147 273* 144386 142 855 2.0 1.1 0.7 0.4 135902 138 188 140391 1.7 1.6 2.7 1.7 100 871* 107 727 115046 6.4 6.4 7.5 6.3 85 845* 85931 87406 0.1 1.7 1.8 2.2 * 46301 43 272 7.0 7.2 29404+ 31136 25567 5.6 21.8 7.4 22.0 29486+ 30667 32640 3.9 6.0 4.4 5.6 229266 207 815 222393 10.3 6.6 8.4 7.5 23546* 21 412 21 183 10.0 1.1 7.7 1.0 159740* 153 101 138 324 4.3 10.7 3.2 10.4 18917* 18 004 19491 5.1 7.6 4.3 8.0 15625* 14909 15 325 4.8 2.7 2.6 4.6 13 818* 14568 14688 5.1 0.8 6.4 1.1 93348* 92421 90785 1.0 1.8 0.9 1.7 7 172* 6729* 8 741* 6.6 23.0 5.1 23.5 5797* 6109 6726 5.1 9.2 7.0 10.0 331 537 215 740 129715 53.7 66.3 48.2 55.4 19027+ 18394 22093 3.4 16.7 1.4 16.2 57 231 59240 62415 3.4 5.1 5.7 5.7 2 380 2 310 2 275 3.0 1.5 2.5 2.0 1756* 1 781 1679 1.4 6.1 2.5 7.0 6767 4963 3 700 36.3 34.1 22.7 24.5 458 334+ 436986 439404 4.9 0.6 2.5 1.0 1366* 1265* 1 275 8.0 0.8 6.7 1.7 846 712 883 18.8 19.4 17.3 18.9 654 576 566 13.5 1.8 11.9 1.8 2090* 1592 1 533 31.3 3.9 29.6 5.5 2940 2918 2919 0.7 0.0 0.4 1.1 348+ 323 281 7.8 15.0 7.0 16.4 370+ 362 330 2.3 9.6 0.3 10.5 21 385 21 837 18156 2.1 20.3 5.0 18.9 2914 2756 2 187 5.7 26.0 7.0 10.7 1.6 1.0

    2 145 557+ 1 744 222 1 324 152 23.0 31.7 21.1 29.1 13 34 188 000* 36201080 40637070 5.6 10.9 6.1 10.9 13 113973500* 119811300 117 213 700 4.9 2.2 6.5 0.9 3001760 2 731 353 2540987 9.9 7.5 9.2 6.0 13 4709369* 4184766 3669432 12.5 14.0 8.0 9.1 388 123+ 358 582 290870 8.2 23.3 6.7 20.4 29720* 24 251 22 440 22.6 8.1 21.8 8.6 258 374 400+ 196384600 161652400 31.6 21.5 26.7 17.3 554952+ 532 745 504 508 4.2 5.6 3.5 5.4 13 44937* 41594 39024 8.0 6.6 4.6 4.2 33 722+ 30670 29417 10.0 4.3 9.7 4.8 195797* 176770 183670 10.8 3.8 7.7 4.9 12 UAE 11 507* 10926* 9489 5.3 15.1 3.3 13.3 65050000* 50497000 38 271 000 28.8 31.9 24.4 28.5 190875 180 000 161940 6.0 11.2 1.9 7.1 14 43 245 520* 37961000 27869000 13.9 36.2 3.0 24.9 78436* 78436* 73 305 0.0 7.0 5.5 1.4 760690* 727 844 692683 4.5 5.1 0.0 5.9 63715* 53 575 18.9 14.4 1061* 1 051 1036 1.0 1.5 1.9 0.5 66199 55 735 55 040 18.8 1.3 10.5 11.6 62* 63 49 2.1 28.4 3.7 27.0 47* 45* 46 2.6 0.7 1.0 3.6 52* 52 55 1.2 6.2 0.2 8.7 77* 71 61 9.0 15.6 5.5 16.5 5.6 5.5

    509891* 485611 468595 5.0 3.6 0.3 2.5 14 834* 14294 10561 3.8 35.4 3.1 33.2 83491 73519 62065 13.6 18.5 5.1 11.4 15 11279* 8 325 7339 35.5 13.4 9.7 2.9 9135* 7 704 7 350 18.6 4.8 11.7 1.8 88625* 95045+ 90952 6.8 4.5 20.0 9.7 376 302 24.6 20.2 12925 11 533 10 583 12.1 9.0 6.0 2.4 * 2 000* 1900* 5.3 21.9 0.3 1.0

    20 41965 50 713 58 140 17.3 12.8 18.8 13.9 16 2462* 2362 2259 4.2 4.6 2.3 3.9 17.9 13.3

    0.5 1.4

  • 42 Swiss Re sigma No 3/2018

    5 2017

    2017% %

    2017

    %

    2017

    2017 2016 1 10 546800 * 557604 1.9 4.0 39.7 20.58

    12 11 51592 * 48947 5.4 1.6 43.2 1.94 598 392 606 551 1.3 3.5 40.0 22.52

    14 46874 41 005 14.3 1.2 56.3 1.7628 11 844 * 11189 5.8 1.0 46.8 0.4532 8394 * 7 775 8.0 0.8 63.1 0.3240 2 802 2459 14.0 5.6 31.5 0.1141 19 2476 2 347 5.5 6.3 15.1 0.0949 1642 1 515 8.4 1.7 47.3 0.0660 665 488 36.4 22.1 42.2 0.0362 515 580 11.2 14.1 48.5 0.0266 431 347 24.4 23.9 21.1 0.0268 371 342 8.5 7.5 25.7 0.0169 290 ** 280 ** 3.5 39.6 0.0172 230 ** 224 2.9 29.5 0.0176 198 189 4.4 7.4 14.8 0.0177 194 167 16.1 7.0 20.8 0.0178 179 162 10.5 10.1 17.2 0.0186 40 * 100 59.6 68.1 2.3 0.0087 30 ** 29 3.9 4.0 0.00

    1 025 1 012 27.1 0.04 78 201 70 209 11.4 1.1 46.6 2.94

    4 189833 * 195637 3.0 0.7 67.0 7.145 153 520 ** 152909 0.4 2.7 63.5 5.786 113947 * 119202 4.4 7.5 73.3 4.299 96973 * 95084 2.0 1.8 43.5 3.65

    11 55680 * 51 233 8.7 86.6 2.1016 33216 + 34 453 3.6 7.4 47.1 1.2518 29944 + 31 130 3.8 4.4 51.7 1.1319 26836 24 280 10.5 8.4 73.4 1.0120 26549 * 23 700 12.0 7.7 87.7 1.0021 24 200 * 22 741 6.4 3.2 73.0 0.9123 21 370 * 19922 7.3 4.3 81.7 0.8025 17650 * 16497 7.0 2.6 50.9 0.6627 15610 * 16120 3.2 6.4 19.8 0.5929 11289 * 11 001 2.6 0.9 57.0 0.4233 8 101 * 7446 * 8.8 5.1 61.2 0.3034 6549 * 6760 3.1 7.0 34.0 0.2535 5683 3 217 76.6 48.2 26.0 0.2136 5036 + 4661 8.0 1.4 31.5 0.1942 2 448 2 424 1.0 5.7 38.0 0.0943 2 417 ** 2 345 ** 3.1 2.5 46.9 0.0944 1984 * 1971 0.7 2.5 45.0 0.0745 1 855 1643 12.9 22.7 15.4 0.0748 1670 + 1 552 7.6 2.5 49.0 0.0650 1 544 * 1 400 * 10.3 6.7 32.9 0.0654 956 ** 788 21.3 17.3 39.6 0.0457 738 638 15.8 11.9 30.0 0.0361 516 * 392 31.5 29.6 20.9 0.0265 444 429 3.5 0.4 32.5 0.0267 394 + 358 10.0 7.0 42.8 0.0173 213 + 205 4.3 0.3 17.3 0.0175 198 196 1.1 5.0 23.0 0.0184 110 108 1.6 7.0 6.7 0.00

    553 515 16.0 0.02 858 025 850 956 0.8 1.6 58.0 32.29

    2 317 570 + 262616 20.9 21.1 58.7 11.953 13 307 232 * 334161 8.1 6.1 72.8 11.567 13 102839 * 104 284 1.4 6.5 56.7 3.878 98602 84496 16.7 9.2 83.9 3.71

    10 13 73 240 * 62375 17.4 8.0 74.7 2.7613 49808 + 46197 7.8 6.7 81.3 1.8722 21 522 * 17 554 22.6 21.8 74.6 0.8124 19312 + 14762 30.8 26.7 80.6 0.7326 16352 + 15093 8.3 3.5 68.0 0.6230 13 10739 * 9881 8.7 4.6 69.7 0.4031 9368 + 7986 17.3 9.7 53.8 0.3537 3 885 * 3 722 4.4 7.7 69.3 0.1538 12 3 133 * 2975 * 5.3 3.3 23.2 0.1239 2865 * 2259 26.8 24.4 61.6 0.1146 1 810 ** 1 718 5.3 1.9 69.7 0.0752 14 1 274 * 1 207 5.5 3.0 13.9 0.0553 974 * 1 000 * 2.5 5.5 72.4 0.0458 734 ** 675 ** 8.8 76.1 0.0363 505 * 483 4.5 0.0 30.9 0.0264 458 ** 438 * 4.5 46.4 0.0270 283 * 280 1.0 1.9 2.9 0.0174 203 163 24.7 10.5 19.9 0.0180 161 * 164 2.1 3.7 13.3 0.0181 153 * 150 * 2.1 1.0 18.7 0.0182 139 * 137 1.2 0.2 18.2 0.0185 108 * 99 9.0 5.5 12.7 0.00

    423 431 9.0 0.02 1 043 690 975 306 7.0 5.6 65.6 39.28

    15 38286 * 33 008 16.0 0.3 80.1 1.4451 1 523 * 1 457 4.5 3.1 41.0 0.0655 807 ** 724 11.5 5.1 40.4 0.0356 15 761 * 1 020 25.4 9.7 48.0 0.0359 686 * 524 31.0 11.7 71.1 0.0371 274 * 375 + 26.9 20.0 30.4 0.0179 166 ** 175 5.1 20.4 0.0183 117 ** 105 10.8 6.0 9.6 0.0088 15 * 12 * 26.4 2.0 0.0088 2262 2064 32.7 0.09

    44 899 39 465 13.8 0.3 67.3 1.69 17 20 32169 37706 14.7 18.8 40.2 1.21

    47 16 1749 * 1645 6.3 2.3 17.2 0.07 146 134 41.8 0.01 34 063 39 484 13.7 17.9 37.6 1.28

    2 657 270 2 581 972 2.9 0.5 54.3 100.00

  • Swiss Re sigma No 3/2018 43

    6 2017

    % %

    2017 2016 2015 2017 2016 2017 2016 10 830 315 * 792378 763754 4.8 3.7 2.6 2.4

    11 88166 * 85 344 82 881 3.3 3.0 1.7 1.5 2.5 2.4

    116316 * 110632 106037 5.1 4.3 1.6 4.1 19 231 205 176363 128679 31.1 37.1 3.9 3.1 254 305 * 237632 214 757 7.0 10.7 0.9 7.6 17969420 16340390 15149790 10.0 7.9 5.4 0.3 3179409 * 3 037 728 2867135 4.7 5.9 1.9 2.8 5972 6143 6126 2.8 0.3 5.6 3.2 3740266 * 851 055 318416 339.5 167.3 68.1 42.1 1614 1 271 1 878 27.0 32.3 26.5 33.4 638146 552 835 491878 15.4 12.4 13.6 12.4 1 072 1 017 1 037 5.5 2.0 4.6 2.7 26132 23 824 22 807 9.7 4.5 3.3 4.7 40 875 33136 29315 23.4 13.0 19.4 11.2 5 384 5 042 4790 6.8 5.3 2.5 0.8 574 602 4.7 5.9 534 574 6.9 7.6 3690 3 758 4 058 1.8 7.4 6.2 10.1 51299 0.9 6.0

    111 545 + 108 184 106451 3.1 1.6 1.3 1.1 72 537 * 70 274 72 312 3.2 2.8 0.5 3.4 77975 * 76372 75 527 2.1 1.1 1.1 0.9 56128 * 55625 57 152 0.9 2.7 0.5 3.0 36792 * 36532 36921 0.7 1.1 0.5 1.0 33 047 + 31 774 29481 4.0 7.8 2.0 8.0 27 532 + 27 073 26521 1.7 2.1 1.2 2.5 15 102 * 14 850 14654 1.7 1.3 0.4 0.6 946048 964891 894105 2.0 7.9 5.4 0.8 11266 10897 10678 3.4 2.1 1.3 1.1 41 313 + 35696 31560 15.7 13.1 13.5 13.8 37 212 34 533 26586 7.8 29.9 3.0 20.5 83 244 80 051 77398 4.0 3.4 2.2 2.4 59018 * 57 757 56177 2.2 2.8 1.0 2.6 7650 * 7286 * 6939 * 5.0 5.0 4.7 5.2 70294 69843 68208 0.6 2.4 1.2 1.1 4 552 * 4 252 * 4049 * 7.1 5.0 5.6 4.4 4239 + 4 331 4339 2.1 0.2 2.9 0.5 93257 87625 91034 6.4 3.7 3.9 4.4 3 305 * 3 325 3 201 0.6 3.9 2.7 3.8 2786 * 2579 * 2569 8.0 0.4 6.7 0.5 2690 1 200 1 007 124.2 19.2 123.0 19.7 2 150 * 2109 2046 1.9 3.1 0.8 4.0 7908 * 7795 7 002 1.4 11.3 0.1 13.1 477 872 + 438079 388651 9.1 12.7 6.6 12.3 1526 1 457 1409 4.7 3.4 3.2 3.5 40 518 32 414 27549 25.0 17.7 9.9 3.3 1 288 1191 1098 8.1 8.5 6.7 9.1 1 774 + 1643 1565 8.0 5.0 5.8 5.9 6116 5 843 5790 4.7 0.9 3.5 2.1 71709 + 67301 62770 6.5 7.2 3.3 6.0 466 + 442 425 5.4 4.0 4.7 5.3 1.1 0.8

    1 512 544 + 1351689 1 104 100 11.9 22.4 10.2 20.0 13 12776650 * 12 704 530 12546950 0.6 1.3 0.0 1.3 13 86864370 * 83439040 79229310 4.1 5.3 2.3 4.0 13 1592311 * 1309700 993330 21.6 31.8 16.7 26.2 574 550 547966 521809 4.9 5.0 4.2 3.6 89434 + 82 502 72 052 8.4 14.5 6.8 11.8 12 UAE 38 148 * 32956 * 27465 15.8 20.0 13.5 18.1 14 35 377 * 35 804 35461 1.2 1.0 0.3 1.0 29009 + 27 483 25 452 5.6 8.0 5.3 8.6 14 268009000 242 215 000 200 570 000 10.6 20.8 0.0 10.8 261662 * 247319 242 281 5.8 2.1 5.1 1.9 10093 * 9948 9708 1.5 2.5 0.9 3.0 13 19526 * 19654 19389 0.7 1.4 3.8 0.9 62197710 + 57785790 56704720 7.6 1.9 3.7 1.6 40561000 * 36865000 31892000 10.0 15.6 6.3 12.6 86588 * 76531 68807 13.1 11.2 10.0 9.8 1702826 * 1640842 1606977 3.8 2.1 0.7 2.9 405 * 348 358 16.3 2.6 14.4 3.7 265813 267441 208269 0.6 28.4 7.5 12.1 83076 * 78 281 71 340 6.1 9.7 2.0 5.8 529 * 512 491 3.3 4.4 0.0 5.2 203 * 196 * 200 3.6 2.0 2.0 4.8 234 * 220 218 6.2 1.2 4.8 1.5 73 743 * 65798 12.1 7.8 29862 * 27909 * 26083 7.0 7.0 1.1 1.4 5.8 10.6

    126653 * 118 747 111 424 6.7 6.6 1.3 0.2 21 380 * 20626 19651 3.7 5.0 3.0 3.3 123 275 121 711 110 475 1.3 10.2 6.2 3.6 121625 119440 118 102 1.8 1.1 3.7 4.9 15 12229 * 9009 8 118 35.7 11.0 9.9 0.7 * 99000 * 95000 * 4.2 22.7 1465 1361 7.7 3.8 202959 * 184 508 + 186604 10.0 1.1 5.6 14.5 3709 * 3 522 3493 5.3 0.8 0.8 5.5 1.0 1.1

    20 62478 59805 57 701 4.5 3.6 2.5 2.3 16 11 875 * 11 247 11 445 5.6 1.7 3.7 2.4 2.6 1.6

    2.8 3.3

  • 44 Swiss Re sigma No 3/2018

    7 2017

    2017% % %

    2017 2016 17 2017 2017 1 10 830 315 * 792378 4.8 2.6 60.3 37.16

    8 11 67927 * 64381 5.5 1.7 56.8 3.04 898 242 856 759 4.8 2.5 60.0 40.20

    13 36441 * 31749 14.8 1.6 43.7 1.6319 19 13959 11943 16.9 3.9 84.9 0.6220 13449 * 12 715 5.8 0.9 53.2 0.6037 6089 5 350 13.8 5.4 68.5 0.2739 4900 * 4 487 9.2 1.9 36.9 0.2250 1 831 1 820 0.6 5.6 52.7 0.0855 1673 * 4 141 59.6 68.1 97.7 0.0756 1614 1 271 27.0 26.5 78.9 0.0760 1 134 1 027 10.4 13.6 85.2 0.0563 1 072 1 017 5.5 4.6 74.3 0.0567 911 790 15.4 3.3 57.8 0.0468 862 719 19.8 19.4 82.8 0.0474 738 663 11.2 2.5 79.2 0.0375 716 ** 689 3.9 96.0 0.0381 550 ** 534 2.9 70.5 0.0282 547 564 3.0 6.2 51.5 0.0285 442 ** 426 ** 3.5 60.4 0.02

    2759 2645 72.9 0.12 89 687 82 551 8.6 0.9 53.4 4.01

    3 126005 + 119709 5.3 1.3 56.5 5.645 93499 * 95218 1.8 0.5 33.0 4.186 88 083 * 84 508 4.2 1.1 36.5 3.949 63404 * 61550 3.0 0.5 80.2 2.84

    11 41562 * 40 424 2.8 0.5 26.7 1.8612 37 331 + 35 158 6.2 2.0 52.9 1.6714 27960 + 27 482 1.7 1.2 48.3 1.2517 17060 * 16431 3.8 0.4 49.1 0.7618 16215 14390 12.7 5.4 74.0 0.7321 12726 ** 12 058 5.5 1.3 66.0 0.5723 10934 + 9046 20.9 13.5 68.5 0.4925 10 200 11429 10.8 3.0 84.6 0.4626 9744 9353 4.2 2.2 26.6 0.4429 8941 * 8579 4.2 1.0 27.0 0.4030 8626 * 8062 * 7.0 4.7 13.4 0.3931 8 501 8 314 2.3 1.2 43.0 0.3838 5 142 * 4 705 * 9.3 5.6 38.8 0.2340 4 788 + 4792 0.1 2.9 18.3 0.2143 3989 3 585 11.3 3.9 62.0 0.1844 3 727 * 3681 1.3 2.7 12.3 0.1745 3 147 * 2 854 * 10.3 6.7 67.1 0.1446 2 732 ** 1 218 ** 124.3 123.0 53.1 0.1247 2 428 * 2 334 4.1 0.8 55.0 0.1149 1951 * 1920 1.6 0.1 79.1 0.0952 1 741 + 1556 11.9 6.6 51.0 0.0853 1 724 1613 6.9 3.2 70.0 0.0857 1 523 1269 20.1 9.9 93.3 0.0758 1 455 1 318 10.4 6.7 60.4 0.0765 1 022 + 929 10.0 5.8 82.7 0.0566 923 858 7.6 3.5 67.5 0.0477 665 + 605 10.0 3.3 77.0 0.0384 526 + 489 7.6 4.7 57.2 0.02

    2895 2426 84.0 0.13 621 171 597 863 3.9 1.1 42.0 27.80

    2 223876 + 203 515 10.0 10.2 41.3 10.024 13 114 818 * 117 272 2.1 0.0 27.2 5.147 13 78 378 * 72625 7.9 2.3 43.3 3.51

    15 13 24764 * 19522 26.9 16.7 25.3 1.1116 18 873 16952 11.3 4.2 16.1 0.8422 11 477 + 10629 8.0 6.8 18.7 0.5124 12 10 388 * 8974 * 15.8 13.5 76.8 0.4628 9434 * 9548 1.2 0.3 97.1 0.4233 8 058 + 7156 12.6 5.3 46.2 0.3634 14 7893 ** 7 700 2.5 0.0 86.1 0.3535 7 710 * 7 007 ** 10.0 5.1 32.0 0.3536 7309 * 7 200 1.5 0.9 25.4 0.3341 13 4666 * 4669 0.1 3.8 30.3 0.2142 4649 + 4 344 7.0 3.7 19.4 0.2151 1786 * 1649 8.3 6.3 38.4 0.0854 1 718 * 1611 6.6 10.0 30.7 0.0861 1 130 * 1 088 3.8 0.7 69.1 0.0564 1 053 * 906 16.3 14.4 86.7 0.0570 815 782 4.3 7.5 80.1 0.0471 788 * 747 5.4 2.0 30.3 0.0473 746 * 722 3.3 0.0 87.3 0.0376 668 * 647 * 3.2 2.0 81.3 0.0380 623 * 586 6.2 4.8 81.8 0.0383 530 ** 507 * 4.5 53.6 0.0286 371 * 356 * 4.3 1.1 27.6 0.0288 230 ** 212 ** 8.8 23.9 0.01

    4 248 4 344 90.9 0.19 546 998 511 268 7.0 5.8 34.4 24.48

    27 9510 * 8 072 17.8 1.3 19.9 0.4348 2195 * 2 103 4.4 3.0 59.0 0.1059 1192 ** 1199 0.6 6.2 59.6 0.0562 1099 1091 0.7 3.7 90.4 0.0569 15 826 * 1 104 25.2 9.9 52.0 0.0472 764 * 605 * 26.4 98.0 0.0378 647 ** 682 5.1 79.6 0.0379 628 * 728 + 13.7 5.6 69.6 0.0387 279 * 239 16.3 0.8 28.9 0.01

    4653 4119 67.3 0.21 21 792 19 943 9.3 1.0 32.7 0.98

    10 20 47893 44465 7.7 2.5 59.8 2.1432 16 8 437 * 7 832 7.7 3.7 82.8 0.38

    203 186 58.2 0.01 56 533 52 484 7.7 2.6 62.4 2.53

    2 234 424 2 120 869 5.4 2.8 45.7 100.00

  • Swiss Re sigma No 3/2018 45

    8 20171

    10 4216 * 1674 * 2 542 *

    18 3260 * 1 407 * 1 853 *

    4 120 1 647 2 473 1 12 122 ** 490 ** 11632 **

    26 1976 ** 583 ** 1393 **

    35 777 377 40037 736 * 464 * 271 *

    41 456 192 26445 398 * 224 174 *

    48 371 56 31549 352 91 26255 272 40 23157 253 ** 100 ** 153 **

    59 196 * 92 * 104 *

    60 181 57 12466 123 26 9768 108 51 5770 97 17 8076 55 11 4477 54 * 1 * 52 *

    262 122 140 3 6811 + 3 522 + 3289 +

    4 5 772 * 4 215 * 1 557 *

    5 1 5 011 * 3091 * 1920 *

    8 4 737 * 3 870 * 867 +9 1 4687 * 3 880 * 807 *

    10 4631 * 915 * 3716 *

    12 1 3 810 * 2 873 * 938 *

    13 3672 2694 97815 1 3446 * 2 222 ** 1 224 *

    16 1 3429 * 2 134 * 129620 1 2687 * 1169 * 1519 +21 1 2660 * 1977 * 683 *

    22 1 2655 * 1546 * 1 110 *

    23 2 217 ** 753 * 1464 **

    28 1519 + 715 + 804 +30 1 271 * 778 * 493 *

    31 1 251 * 887 * 364 *

    32 1 184 355 82933 1 042 + 446 + 596 +36 746 ** 709 ** 36 **

    38 609 232 37742 444 ** 176 ** 26843 421 + 133 + 288 +44 411 * 185 * 226 *

    51 348 + 170 + 178 +52 333 108 22561 175 + 30 + 145 +62 152 39 11363 149 23 12664 125 * 26 * 99 *

    65 123 + 28 95 +82 38 3 36

    1 651 965 686 2 8 313 + 6756 + 1 557 +

    6 4997 4195 8037 1 4749 * 3 835 * 915 *

    14 13 3 522 * 1999 * 1 523 *

    17 13 3 312 * 2 411 * 901 *

    25 2093 + 1 125 + 968 +27 1 552 ** 1 181 ** 371 **

    29 12 1436 * 333 * 1 103 *

    39 577 * 105 * 471 *

    40 13 486 * 339 * 147 *

    46 384 + 225 + 159 +50 348 * 237 + 112 *

    53 296 * 9 * 287 *

    54 276 * 85 * 191 *

    56 265 * 35 * 230 *

    58 201 * 38 * 164 *

    67 14 113 ** 16 * 97 **

    71 91 + 73 + 18 +72 89 * 11 * 78 *

    73 13 73 * 55 * 18 *

    75 61 10 5078 53 * 37 * 16 *

    79 49 * 30 * 19 *

    80 47 ** 22 ** 25 **

    86 13 ** 9 ** 4 *

    87 8 * 6 * 2 *

    360 236 123 34 842 * 674 * 167 *

    47 381 * 271 * 110 *

    69 104 * 43 * 61 *

    74 71 ** 14 ** 56 **

    81 40 ** 16 ** 24 **

    83 29 ** 3 ** 2784 26 * 1 * 26 *

    85 15 16 * 8 * 8 *

    88 5 * 1 * 3 *

    87 54 36 18Total 50.5 33.7 16.7

    19 3 247 1 304 194224 2209 * 379 * 1829 *

    2 236 841 1 395 3 650 353 297

  • 46 Swiss Re sigma No 3/2018

    9 2017GDP1

    17 11 7.23 * 3.12 * 4.11 *

    18 10 7.10 * 2.82 * 4.28 *

    7.11 2.84 4.27 2 19.61 ** 0.79 ** 18.82 **

    12 8.59 ** 2.53 ** 6.06 **

    27 5.10 ** 2.02 ** 3.08 **

    31 4.88 * 3.08 * 1.80 *

    39 4.07 1.97 2.0940 4.05 * 2.28 1.77 *

    46 2.88 0.91 1.9748 2.65 0.40 2.2550 2.56 1.08 1.4853 2.41 0.62 1.7956 2.31 0.34 1.9760 2.20 * 1.03 * 1.17 *

    66 2.03 0.43 1.6070 1.63 0.77 0.8675 1.38 0.24 1.1476 1.36 * 0.03 * 1.33 *

    78 1.21 0.25 0.96 3.06 1.42 1.63

    6 10.65 * 8.70 * 1.95 +7 10.21 * 7.46 * 2.75 *

    8 1 9.58 * 7.22 * 2.36 *

    9 9.56 * 1.89 * 7.67 *

    10 1 8.95 ** 5.77 ** 3.18 *

    13 8.53 + 4.41 + 4.12 +14 1 8.34 * 6.20 * 2.14 *

    19 6.79 4.98 1.8120 1 6.79 * 5.62 * 1.17 *

    21 1 6.09 * 3.55 * 2.55 *

    22 1 6.04 * 2.63 * 3.41 +23 6.02 * 3.68 * 2.33 *

    25 5.37 + 2.53 + 2.84 +30 4.94 1.48 3.4633 1 4.64 * 2.86 * 1.78 *

    34 1 4.64 * 2.89 * 1.7535 4.61 ** 1.57 * 3.04 **

    37 4.44 * 3.15 * 1.29 *

    38 4.35 + 1.86 + 2.49 +45 3.04 + 0.96 + 2.08 +47 2.85 1.08 1.7651 2.52 0.82 1.7052 2.50 + 1.22 + 1.28 +54 2.37 ** 0.94 ** 1.4359 2.20 * 0.99 * 1.21 *

    61 2.18 + 0.38 + 1.80 +64 2.07 + 0.48 1.59 +71 1.51 0.10 1.4172 1.42 0.22 1.2074 1.40 0.36 1.0477 1.22 * 0.25 * 0.96 *

    87 0.43 ** 0.41 ** 0.02 **

    6.45 3.77 2.68 1 21.32 17.89 3.42

    3 17.94 + 14.58 + 3.36 +5 13 11.57 * 6.56 * 5.00 *

    11 13 8.59 * 6.26 * 2.34 *

    15 1 8.23 * 6.64 * 1.58 *

    26 5.29 * 3.59 + 1.69 *

    29 4.97 + 2.67 + 2.30 +32 13 4.77 * 3.32 * 1.44 *

    36 4.57 + 2.68 + 1.89 +41 13 3.69 * 2.76 * 0.93 *

    42 12 3.65 * 0.85 * 2.81 *

    44 3.15 * 0.97 * 2.18 *

    55 2.36 + 1.90 + 0.46 +57 14 2.23 * 0.31 * 1.92 **

    58 2.22 * 0.40 * 1.81 *

    62 2.10 * 1.29 * 0.81 *

    63 2.09 * 0.27 * 1.82 *

    67 1.98 ** 1.51 ** 0.47 **

    68 1.79 * 1.24 * 0.55 *

    69 1.74 * 0.23 * 1.51 *

    73 1.42 * 0.04 * 1.38 *

    79 1.16 ** 0.54 ** 0.62 **

    80 0.86 ** 0.60 ** 0.26 *

    82 0.71 * 0.13 * 0.58 *

    83 0.69 0.12 0.5786 0.55 * 0.40 * 0.15 *

    5.62 3.69 1.93 4 13.75 * 11.02 * 2.74 *

    16 7.55 * 5.37 * 2.18 *

    43 3.49 * 1.43 * 2.06 *

    49 2.60 ** 1.05 ** 1.55 **

    65 2.04 ** 0.42 ** 1.62 **

    81 0.72 ** 0.07 ** 0.6584 15 0.68 * 0.33 * 0.35 *

    85 0.59 * 0.01 * 0.58 *

    88 0.25 * 0.08 * 0.17 *

    2.96 2.00 0.97 24 5.81 2.33 3.48

    28 5.08 * 0.87 * 4.21 *

    5.62 2.11 3.50 3 6.13 3.33 2.80

  • Swiss Re sigma No 3/2018 47

    10 2017

    GDP

    10 2017

    2016 2017 2017 2017 2016 2017 2016

    1 327 19407 2.3 1.5 2.1 1.3 1.00 1.00 0.010 37 1652 3.0 1.4 1.6 1.4 1.30 1.33 2.1

    363 21 059 2.3 1.5

    8 209 2 055 1.0 3.5 3.5 8.8 3.19 3.48 8.415 129 1 152 2.3 2.7 6.0 2.8 18.91 18.69 1.221 19 44 620 2.7 2.2 26.2 41.4 16.56 14.77 12.240 49 309 1.8 2.0 4.3 7.5 2951.33 3054.12 3.442 18 272 1.7 1.5 2.7 3.1 648.85 676.94 4.149 32 213 2.5 4.1 3.0 3.6 3.26 3.38 3.457 32 126 8.7 10.0 1277.1 361.7 2235.00 205.50 987.662 17 101 1.9 1.6 0.4 1.7 1.00 1.00 0.065 17 77 2.8 3.1 4.2 4.4 7.30 7.60 3.966 11 75 4.6 6.6 3.3 1.6 47.44 46.08 2.969 3 62 3.6 1.5 6.2 9.6 28.68 30.16 4.970 4 60 5.6 5.0 0.9 0.7 1.00 1.00 0.071 5 58 3.1 4.5 1.6 0.0 562.87 538.43 4.581 1 26 2.3 2.7 4.7 3.1 6.75 6.66 1.283 3 14 2.2 1.5 4.4 2.3 128.96 124.96 3.286 0 9 1.4 0.0 2.4 0.8 1.00 1.00 0.088 0 4 2.1 2.7 2.6 1.3 0.83 0.83 0.0

    18 636.6 5 134.6 1.0 0.2 4 83 3691 2.5 1.9 1.7 0.5 0.89 0.90 2.0

    6 66 2628 1.7 1.9 2.7 0.6 0.78 0.74 5.17 67 2586 2.0 1.1 1.0 0.2 0.89 0.90 2.09 61 1941 1.5 1.0 1.2 0.1 0.89 0.90 2.0

    12 144 1562 1.6 0.3 3.7 7.0 58.34 67.06 13.014 46 1 315 3.0 3.3 2.0 0.2 0.89 0.90 2.017 81 848 6.9 3.3 11.1 7.8 3.65 3.02 20.718 17 827 3.2 2.1 1.4 0.3 0.89 0.90 2.020 9 679 1.0 1.4 0.5 0.4 0.98 0.99 0.023 10 538 2.7 3.0 1.8 1.0 8.54 8.56 0.224 38 526 4.5 2.9 2.0 0.7 3.78 3.95 4.225 11 496 1.7 1.5 2.1 2.0 0.89 0.90 2.027 9 418 3.1 1.5 2.1 0.9 0.89 0.90 2.029 5 391 1.9 1.0 1.9 3.6 8.27 8.40 1.635 5 331 6.1 5.1 0.3 0.2 0.89 0.90 1.936 6 325 2.1 2.0 1.1 0.3 6.60 6.73 2.043 6 246 3.0 2.1 0.8 0.4 0.89 0.90 2.046 11 226 4.5 2.5 2.4 0.7 23.38 24.44 4.448 10 217 2.7 1.5 1.4 0.6 0.89 0.90 2.050 20 203 6.8 4.8 1.3 1.6 4.05 4.06 0.251 11 201 1.4 0.3 1.1 0.8 0.89 0.90 2.055 10 137 4.2 2.1 2.3 0.4 274.43 281.52 2.559 43 108 2.3 2.3 13.7 13.9 26.60 25.55 4.161 5 101 3.4 3.3 1.3 0.5 0.89 0.90 2.068 1 63 3.3 3.1 2.1 0.0 0.89 0.90 1.872 7 57 3.7 3.9 2.1 0.8 1.74 1.77 1.873 4 54 3.2 2.9 1.1 1.1 6.62 6.81 2.775 2 50 5.4 3.3 1.4 0.1 0.89 0.90 2.077 7 42 1.9 2.8 3.1 1.1 107.76 111.28 3.282 1 21 3.7 2.8 0.7 1.2 0.89 0.90 2.085 0 12 6.5 5.5 1.3 0.9 0.89 0.90 2.087 0 7 3.0 1.2 0.5 0.4 0.98 0.99 0.0

    18 823 21 087 2.6 1.8 2 1 410 11856 6.9 6.7 1.5 2.0 6.76 6.64 1.7

    3 127 4911 1.7 0.9 0.6 0.1 111.28 108.33 2.75 1 341 2655 6.6 7.1 4.2 4.5 64.30 67.09 4.2

    11 51 1567 3.1 2.8 1.7 1.3 1108.27 1148.90 3.516 264 1016 5.1 5.0 3.8 3.5 13379.30 13303.68 0.619 33 684 0.7 1.7 0.9 2.0 3.75 3.75 0.022 24 551 2.8 1.5 0.6 1.4 30.44 32.33 5.826 69 455 3.9 3.3 0.7 0.2 33.94 35.30 3.828 81 410 3.0 13.4 10.6 9.0 33955.67 31457.40 7.930 9 370 1.7 3.0 2.0 1.6 3.67 3.67 0.032 8 351 3.3 4.0 0.2 0.5 3.60 3.84 6.334 7 342 3.8 2.1 1.5 2.4 7.79 7.76 0.437 6 324 3.6 2.4 0.6 0.5 1.38 1.38 0.038 32 323 5.9 4.2 3.3 2.3 4.18 4.21 0.639 105 313 6.7 6.9 2.9 1.3 50.40 47.49 6.141 197 302 5.3 4.5 4.1 3.8 105.45 104.76 0.744 165 245 7.3 7.1 5.8 5.5 80.50 78.47 2.647 95 222 6.8 6.2 3.5 2.7 22705.25 22354.58 1.654 18 161 3.8 0.9 7.4 14.6 326.00 342.16 4.758 4 116 1.7 3.5 1.6 2.9 0.30 0.30 0.463 21 85 4.4 4.4 6.6 4.0 153.53 145.58 5.567 5 70 0.2 5.4 1.6 1.1 0.38 0.38 0.074 6 52 1.8 2.0 4.5 0.8 1507.50 1507.50 0.076 1 49 9.1 0.9 1.2 2.4 8.03 8.00 0.478 10 41 2.2 2.0 3.3 0.8 0.71 0.71 0.080 1 34 3.0 3.2 1.4 2.8 0.38 0.38 0.0

    18 4 419 28 251 4.8 4.8 31 191 366 0.9 1.6 16.5 15.7 323.20 253.49 27.5

    33 57 348 1.3 0.6 5.3 6.3 13.32 14.71 9.545 97 234 4.2 4.3 23.5 10.2 14.81 8.16 81.553 41 168 2.3 3.3 5.7 6.4 110.70 109.44 1.256 30 132 0.9 3.8 32.2 34.7 165.06 163.66 0.960 36 107 4.1 1.1 0.7 1.6 9.74 9.81 0.764 50 77 4.6 5.8 8.0 6.3 103.41 101.50 1.979 12 40 2.0 1.2 5.3 3.7 2.43 2.15 13.184 3 13 0.6 1.1 6.2 6.7 13.32 14.71 9.5

    18 1 241 2 250 3.8 1.7 13 25 1 378 2.3 2.6 1.9 1.3 1.30 1.34 3.0

    52 5 200 2.8 4.1 1.9 0.7 1.41 1.44 2.0 18 41 1 613 2.4 2.8

    7 527 79 752 3.3 2.6

  • 48 Swiss Re sigma No 3/2018

    2018

    2017

    2016

    2015

    2014

    2013

    2012

    2011

    20171

    2017

    2016

    2016

    2015

    2015

    21

    2014

    M&A

    2014

    2013

    Haiyan30

    2013

    2012

    2012

    2011

    2011

    2010 1

    2010

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