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INSURANCE - EUROSTAT

Statistics Directorate    
French Equivalent: Assurance - Eurostat

Definition:
The following types of insurance services can be distinguished:

— Life insurance: includes insurance on a contractual basis of following items: life assurance, (which covers assurance on survival to a stipulated age only, assurance on death only, assurance on survival to a stipulated age or an earlier death, life assurance with return of premiums, marriage assurance and birth assurance) annuities, supplementary insurance (insurance against personal injury and disability resulting from an accident or sickness), and permanent health insurance;

— Non-life insurance: includes insurance against following risks: accident, sickness, land vehicles, railway rolling stock, aircraft, ships, goods in transit, fire and natural forces, other damage to property, motor vehicle liability, aircraft liability, liability for ships, general liability, credit, suretyship, miscellaneous financial loss and legal expenses;

- Reinsurance: an insurance enterprise undertaking insurance with policy holders often transfers some of the risks incurred to other insurance enterprises. These transactions between insurance enterprises are called reinsurance
.

Source Publication:
First Council Directive (EEC), No. 79/267, of 05.03.1979 on the coordination of laws, Regulations and administrative provisions relating to the taking-up and pursuit of the business of direct life assurance, Article 1, First Council Directive (EEC), No. 73/239, of 24.07.1973 on the coordination of laws, Regulations and administrative provisions relating to the taking-up and pursuit of direct insurance other than life assurance, Article 1, European System of Accounts (ESA) 1995, [Annex III], P. 268 and Insurance in Europe, Eurostat - DG XV, 1996
.

Cross References:
Insurance – SNA

Version Indicator: Eurostat

Statistical Theme: Financial statistics

Created on Tuesday, November 13, 2001

Last updated on Tuesday, November 13, 2001