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Scope
Data presentation - Summary description

ICO statistics refer to premiums written, claims incurred and acquisition expenses of insurance corporations resident in the euro area.

Data presentation - Detailed description

ICs are divided into:

 

(i) reinsurance corporations

 

(ii) life insurance corporations

 

(iii) non-life insurance corporations

 

(iv) composite insurance corporations

Statistical population

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.

Reference area coverage

Euro Area

Sector coverage

Insurance corporations belonging to the sub-sector “insurance corporations" in the ESA 2010, sector S.128.

Time coverage

These statistics are available as of reference period 2017

Methodological information
Source data type

ICs submit to the NCBs the data that the NCBs require in accordance with Guideline ECB/2021/12 on financial intermediaries other than monetary financial institutions. These in turn report national aggregates to the ECB.

Time period

Annual

Time period - collection

End of the period

Frequency of data collection

Annual

Statistical concepts and definitions

For information about the naming convention (series key dimensions and metadata), refer to the ICO underlying DSD (ECB_ICO1) maintained by the ECB.

Statistical processing
Data compilation

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.

Adjustment

Neither seasonally nor working-day adjusted.

Data validation

Validation is based on the verification of balance sheet constraints, and on checks on the plausibility of developments at various levels of aggregation.

Data revision - policy

The revisions policy and procedures set by the ECB and the relevant NCB must be followed.

Administrative Information
Title

ICO - Insurance Corporations Operations

Data source

National central banks (NCBs) and ECB

Quality
Quality management

Quality is ensured by means of a comprehensive legal framework included in the Guideline ECB/2021/12 on financial intermediaries other than monetary financial institutions.

Accuracy

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.

Dissemination
Release policy - release calendar

See the release calendar  for insurance corporations statistics in the euro area on the ECB’s website.

Dissemination format

Statistical Data Warehouse (SDW) and ECB website

Dissemination format - news release

Press release on the ECB Website

Technical Information
Catalog

Download the series catalogue containing a full list of series and associated metadata of the dataset ICO in CSV format (zipped)

Dataset last update
2 May 2024 10:00 CEST
Miscellaneous
Metadata last update
13 May 2024 17:36 CEST