Global Insurance Market Report (GIMAR)

The GIMAR assesses developments relevant to the (re)insurance industry and identifies key risks and vulnerabilities for the industry to promote awareness among IAIS Members, stakeholders and interested parties. From 2020, the GIMAR has been adapted to report on the outcomes of the IAIS’ Global Monitoring Exercise (GME). The GME is aimed at assessing global insurance market trends and developments and detecting the possible build-up of systemic risk in the global insurance sector, and is part of the IAIS Holistic Framework for the assessment and mitigation of systemic risk in the insurance sector.

2021 GIMAR Summary: This report covers the latest findings from the IAIS’ targeted assessment of the impact of Covid-19 on the global insurance sector, the outcome of the first full Global Monitoring Exercise (GME) of potential systemic risks and key highlights of the global reinsurance market analysis. Available here. Annex 1 available here, Annex 2 available here.

2021 GIMAR special topic edition Summary: This special topic edition assesses how insurance sector investments are exposed to climate change. Drawing on unique quantitative and qualitative data gathered from the wide IAIS Membership, analysis was carried out to better understand insurers’ asset-side exposures to, as well as supervisors’ views on, climate-related risks. In addition, scenarios were developed to assess climate change impact on a forward-looking basis. Available here. 

2020 GIMAR Summary: This special edition discusses the impact of Covid-19 on the global (re)insurance sector in 2020 from a supervisory perspective. Available here.

2019 GIMAR Summary: The report discusses the global (re)insurance market, its performance, risks and supervisors’ perspectives. Cyber risk pricing and regulatory considerations, main risks and challenges of the life sector are also discussed. Available here. 

2018 GIMAR Summary: The (re)insurance market remained stable, showing growth potential albeit operating in a challenging macroeconomic environment characterised by rising global debt levels, rising inflation and low interest rates. Available here.

2017 GIMAR Summary: The report shows that the (re)insurance sector remained stable with clear signs of growth, as evidenced by high capital levels, positive profitability, and a persistent inflow of additional reinsurance capital. Available here.

2016 GIMAR Summary: The report shows that, while continuing to remain well-functioning and stable, the (re)insurance sector operates in an increasingly difficult macroeconomic and financial environment characterised by weak global demand, low inflation rates, very low interest rates, and bursts of financial market volatility. Available here.

2015 GIMAR Summary: The report shows that the global (re)insurance sector has proven to remain well functioning and stable in the midst of an often challenging economic and financial environment as evidenced by the high capital levels held by (re)insurers, the overall stable profitability shown by the sector and an on-going inflow of additional capital. Available here.

2014 GIMAR Summary: The report shows that insurers have been able to weather the slow economic growth rates, persistently low interest rates and low inflation rates that have characterised the global financial marketplace since the financial crisis. Available here.

2012 GIMAR Summary: The data shows that global primary insurers and reinsurers have been affected by the financial crisis and by the subsequent recession in many economies around the world. However, the data also shows that the industry has been resilient in the face of adverse developments. Available here.