OECD: insurance retention ratio by country

In 2022, the OECD country with the highest reinsurance retention rate (combined life and non-life) was Finland, with 99.2 percent. This means that 99.2 percent of the premiums taken on by Finnish insurers were kept on their books, rather than being passed to reinsurers. By comparison, the OECD average is 85.6 percent, while the United States and the United Kingdom reported retention ratios of 82.1 and 76.3 percent, respectively.

Retention ratio of the total insurance market worldwide from 2019 to 2022, by country

Characteristic	2019	2020	2021	2022
Finland	99.5%	99.2%	99.4%	99.2%
Denmark	97.8%	98.4%	98.4%	98.3%
Sweden	96.9%	-	97.1%	97.9%
Iceland	96.3%	95.9%	96%	96%
Netherlands	-	-	95.1%	95.3%
Italy	96.5%	96.3%	96%	95.1%
Korea	-	93.5%	93.3%	93.1%
Norway	93.7%	93%	93.8%	93.1%
Latvia	90.3%	91.6%	92%	92.1%
Lithuania	90.9%	92.8%	92.8%	92%
Switzerland	92.3%	92.1%	91.6%	91.9%
Greece	89.6%	89.8%	89.9%	89.9%
Hungary	87.9%	88%	88.1%	87.4%
Spain	89.6%	83.8%	88.3%	87.2%
OECD average	85%	84.3%	83.4%	85.6%
France	87%	84.9%	85.7%	85.2%
Poland	87.6%	86.9%	85.4%	85%
Slovakia	85.5%	85.7%	85.5%	84.7%
Austria	86.4%	-	-	83.1%
Germany	86.4%	85.7%	84%	83.1%
Israel	85.3%	84.1%	83.5%	83%
Mexico	81.3%	82%	81.9%	82.8%
Portugal	86.3%	81.7%	84.9%	82.8%
Slovenia	85.8%	87.7%	84.8%	82.7%
United States	84.4%	83.1%	81.3%	82.1%
Luxembourg	73%	80.9%	82.4%	81.9%
Chile	82.8%	76.8%	78.4%	80.5%
Colombia	80.4%	78.2%	76.8%	79.6%
Costa Rica	78.3%	78.3%	78.4%	77.9%
Japan	85.1%	85.5%	83.1%	77.6%
Czechia	79.4%	79.2%	78.2%	77.3%
United Kingdom	80.5%	80.6%	80.9%	76.3%
Turkey	71.5%	70.9%	69.7%	74.3%
Belgium	76.2%	82.7%	75.5%	72.9%
Australia	74.1%	69.4%	68.8%	69.8%
New Zealand	70.3%	67.4%	-	-

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Release date

May 2024

More information

Region

Worldwide

Survey time period

2019 to 2022

Special properties

Only OECD members are included.

Supplementary notes

The source did not provide recent information for Canada, Estonia or Ireland, so these countries have been excluded from this statistic.

Release date is the date the database was accessed.

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