Accessible Version

Accounting for Reinsurance Transactions in the Financial Accounts of the United States Accessible Data

Figure 1: Life Insurance Company Reinsurance on Policies Sold to U.S. Residents

Reinsured US Policyholder Obligations ($B, except as noted)
  1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017
US, Captive 1.446 1.843 4.202 6.884 11.574 18.367 23.049 29.127 70.947 85.285 158.260 185.452 209.405 228.113 239.257 229.084 237.783 250.579 244.462
Foreign, Affiliated 20.585 22.870 32.109 45.372 66.228 105.220 116.214 162.951 202.741 266.747 313.002 311.737 301.916 303.948 327.014 307.896 276.241 289.797 327.943
Foreign, Unaffiliated 57.166 57.363 71.027 71.003 84.332 104.626 111.638 111.380 77.531 81.745 77.070 62.126 65.339 70.847 64.974 62.800 33.146 37.116 35.546
US, Unaffiliated 82.769 90.068 114.690 127.724 151.040 198.246 176.258 225.977 225.429 221.518 236.483 230.985 242.002 253.573 328.720 337.258 337.822 365.821 394.520
% of US Business Reinsured 6% 6% 8% 9% 10% 12% 11% 13% 13% 16% 18% 17% 17% 17% 18% 17% 16% 16% 16%

Source: Financial Accounts of the United States.

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Figure 2: Property and Casualty Insurance Company Reinsurance on Policies Sold to U.S. Residents

Reinsured US Policyholder Obligations ($B, except as noted)
  1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017
Foreign, Affiliated 23.821 30.349 43.642 49.610 54.946 45.751 64.643 64.272 66.447 69.343 67.519 65.792 68.651 71.446 72.124 74.733 79.728 85.665 96.773
US, Unaffiliated 103.630 117.828 141.586 149.379 149.530 150.840 156.890 142.443 131.040 133.522 126.656 119.986 122.705 128.022 121.178 117.492 116.174 124.286 140.086
Foreign, Unaffiliated 21.468 26.912 38.077 42.588 46.409 56.700 62.977 52.495 47.673 48.952 46.567 42.893 43.816 44.822 45.293 46.522 46.038 52.181 62.502
% of US Business Reinsured 28% 32% 37% 36% 35% 33% 34% 30% 28% 28% 27% 26% 25% 26% 25% 25% 25% 26% 28%

Source: Financial Accounts of the United States.

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Figure 3: Growth of Non-NAIC Reinsurance

Non-NAIC Reinsurance ($B)
  1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017
Life Insurance 33.757 37.145 44.576 51.774 60.961 75.277 91.620 110.229 156.358 197.466 206.079 216.927 238.603 261.240 269.798 293.450 312.951 336.340 356.147
Property and Casualty 61.357 77.230 107.755/td> 121.820 133.164 136.300 167.650 150.915 147.738 156.707 155.535 148.258 157.180 168.707 166.910 170.468 176.242 191.070 216.557

Note: Reserve credit taken for business ceded to captive reinsurers, non-U.S. reinsurers, and residual market entities.

Source: Financial Accounts of the United States.

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Figure 4: Changes in Policyholder Obligations due to Reinsurance for the Insurance and ROW Sectors

$ Billions
  A) Insurance Policyholder Obligations: Liabilities - Net of Reinsurance A) Insurance Policyholder Obligations: Liabilities - Gross of Reinsurance B) ROW Policyholder Obligations: Liabilities - Gross of Reinsurance B) ROW Policyholder Obligations: Assets - Gross of Reinsurance
1999 2680.097 2933.347 77.599 5.305
2000 2759.352 3052.178 92.564 7.218
2001 2869.091 3235.383 123.336 9.457
2002 2998.530 3404.631 139.775 11.496
2003 3288.129 3727.145 156.577 13.851
2004 3575.269 4053.794 169.862 13.913
2005 3802.998 4336.216 206.212 19.564
2006 4074.199 4626.422 208.734 17.603
2007 4244.853 4831.991 222.013 17.923
2008 4011.269 4658.328 254.846 20.071
2009 4217.962 4871.087 249.230 23.480
2010 4487.494 5140.457 229.048 28.460
2011 4659.227 5360.756 218.324 39.107
2012 4854.994 5615.617 223.184 43.143
2013 5191.459 5984.723 222.159 41.892
2014 5391.382 6218.248 216.351 50.988
2015 5492.102 6363.448 226.265 47.201
2016 5714.282 6657.509 248.160 60.638
2017 6026.922 7051.190 295.572 74.172

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Figure 5: Changes in Household Holdings of Policyholder Obligations and Other Financial Assets due to incorporating non-NAIC Reinsurance into the Financial Accounts

Households ($B)
  1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017
Insurance Assets 62.299 72.814 94.681 108.006 121.758 137.600 166.918 177.725 221.811 265.576 271.049 274.768 294.885 320.118 330.826 347.028 374.666 392.778 417.150
Other Financial Assets (15.557) (19.333) (25.775) (30.182) (33.462) (35.835) (45.157) (41.813) (55.166) (68.046) (73.809) (86.395) (106.258) (125.076) (131.617) (141.724) (153.511) (162.580) (167.997)
Net Worth 46.741 53.481 68.906 77.824 88.297 101.765 121.761 135.912 166.645 197.530 197.240 188.373 188.627 195.042 199.209 205.304 221.155 230.198 249.153

Source: Financial Accounts of the United States.

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Appendix C

$ Billions
  1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017
Life General Account: Assets 86.735 95.591 114.366 132.508 154.411 189.258 205.240 249.880 299.217 344.625 355.411 362.366 395.007 436.945 478.904 501.682 543.189 587.777 636.656
Life General Account: Liabilities 88.181 97.434 116.736 134.476 156.026 191.639 209.732 255.981 304.544 353.237 367.039 381.570 424.239 469.994 512.762 547.700 584.373 633.709 673.244
Life Separate Account: Assets 81 335 502 750 701 894 363 4.258 5.266 5.224 5.406 5.164 4.575 1.289 1.271 193 184 65 60
Life Separate Account: Liabilities 81 335 506 757 707 906 390 4.258 5.265 5.224 5.406 5.164 4.575 1.289 1.271 193 184 65 60
Property and Casualty: Assets 165.605 195.828 250.696 273.331 284.290 288.968 327.106 295.028 280.619 292.489 284.105 270.314 282.327 298.862 290.213 289.523 293.939 317.048 358.441
Property and Casualty: Liabilities 166.080 196.446 250.943 272.906 284.475 288.965 327.105 295.026 280.621 292.497 284.110 270.310 282.332 298.858 290.216 289.524 293.944 317.049 358.447
Rest of the World: Assets 21.882 31.023 44.427 59.154 68.438 73.163 88.175 91.828 101.858 120.404 121.945 119.769 120.163 125.132 122.178 133.073 132.073 145.913 190.673
Rest of the World: Liabilities 84.955 102.154 133.465 152.557 170.372 180.881 218.579 221.143 234.307 269.326 263.909 242.666 233.705 241.153 239.782 234.940 247.990 271.719 321.151
Corporate Nonfinancial: Assets 22.222 27.741 38.930 43.695 47.267 48.518 58.796 53.165 51.990 55.353 54.190 50.047 49.913 53.867 51.689 53.234 54.384 59.770 65.738
Noncorporate Nonfinancial: Assets 5.288 6.602 9.264 10.398 11.248 11.546 13.992 12.652 12.372 13.173 12.896 11.910 11.878 12.819 12.301 12.668 12.942 14.224 15.644

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Last Update: October 12, 2018