ICO statistics refer to premiums written, claims incurred and acquisition expenses of insurance corporations resident in the euro area.
ICs are divided into:
(i) reinsurance corporations
(ii) life insurance corporations
(iii) non-life insurance corporations
(iv) composite insurance corporations
Cs resident in the territory of a euro area Member State form the reference reporting population.
NCBs are entitled to exempt ICs from statistical reporting requirements in accordance with Article 7 of Regulation ECB/2014/50.
Euro Area
Insurance corporations belonging to the sub-sector “insurance corporations" in the ESA 2010, sector S.128.
These statistics are available as of reference period 2017
ICs submit to the NCBs the data that the NCBs require in accordance with Guideline ECB/2014/15 on monetary, financial institutions and markets statistics. These in turn report national aggregates to the ECB.
Annual
End of the period
Annual
For information about the naming convention (series key dimensions and metadata), refer to the ICO underlying DSD (ECB_ICO1) maintained by the ECB.
Data are aggregated across IC sector in each Member State by NCBs or national statistical institutes to derive contributions to the euro area aggregated balance sheet of the IC sector.
Neither seasonally nor working-day adjusted.
Validation is based on the verification of balance sheet constraints, and on checks on the plausibility of developments at various levels of aggregation.
The revisions policy and procedures set by the ECB and the relevant NCB must be followed.
ICO - Insurance Corporations Operations
National central banks (NCBs) and ECB
Quality is ensured by means of a comprehensive legal framework included in the Guideline ECB/2014/15 on monetary and financial statistics (recast)
Minimum standards for accuracy:
(a) statistical information must be correct: all linear constraints must be fulfilled (e.g. subtotals must add up to totals);
(b) reporting agents must be able to provide information on the developments implied by the transmitted data;
(c) statistical information must be complete and must not contain continuous and structural gaps; existing gaps should be acknowledged, explained to the relevant NCB and, where applicable, bridged as soon as possible;
(d) reporting agents must follow the dimensions, rounding policy and decimals set by the relevant NCB for the technical transmission of the data.
See the release calendar for insurance corporations statistics in the euro area on the ECB’s website.
Statistical Data Warehouse (SDW) and ECB website
Press release on the ECB Website
The framework for the collection of insurance corporation (IC) statistics is laid down in the ECB Regulation concerning statistics on the assets and liabilities of insurance corporations (ECB/2014/50). This Regulation is complemented by Guideline ECB/2014/15 .
The national central banks are allowed to derive the necessary statistical information, to the extent possible, from data reported for supervisory purposes under the EU"s Solvency II framework .
Regulation ECB/2014/50 concerning statistical reporting requirements for insurance corporations.
Guideline ECB/2014/15 on monetary and financial statistics (recast)
Download the series catalogue containing a full list of series and associated metadata of the dataset ICO in CSV format (zipped)