The Banking & Insurance sector – often referred to as the lifeblood of the real economy – is of vital importance in the modern credit-driven economic growth model. Among its functions are intermediation between savers and borrowers, ensuring funds are allocated efficiently; support of payment and settlement systems that facilitate trade and international economic relations; and provision of various products that mitigate risk and uncertainty. The accelerating pace of technological change, stricter regulation and shifting consumer habits are reshaping the traditional banking model and pushing the sector towards innovation-led growth.
Activities associated with Banking & Insurance are depositary and non-depositary credit intermediation and related activities, investment banking, securities brokerage, commodity contracts dealing and diverse financial investment activities. The sector also includes insurers, re-insurers and insurance brokerages, pension funds, health and welfare funds, monetary authorities, stock exchanges, and collection and credit agencies.
In 2017, written premiums in Colombia rose by 5.5% in real terms and 8% y/y in nominal terms, despite a backdrop of slow economic activity. In comparison, globally the value of written premiums grew by just 1.5% in real terms in 2017, according to a ...READ MORE
Following the premium contraction of a 11.2% y/y in the first quarter of 2018, China’s insurance sector experienced a solid recovery in the second quarter. The quarterly insurance premiums amounted toRMB 828.5bn, rising by 13.9% y/y. ...READ MORE
Indonesia’s insurance sector is underdeveloped, with penetration rates well below the averages for the world in general and for Asia in particular. The sector generates less than 1% of the country’s GDP, while its premium income was ...READ MORE
Bank penetration in Indonesia is low by international standards, with banking assets and loans accounting for 55% and 35%, respectively, of the country’s GDP in 2017. A total of 115 commercial and 1,615 rural banks were operational in the ...READ MORE
Due to the focus on traditional banking products and the austere financial supervision, the Polish banking system has weathered down the crises of the last two decades very well and remains well capitalised and non-volatile. Still, Poland is viewed ...READ MORE
China’s insurance sector witnessed its first quarterly contraction since 2011 amid tightening financial regulations and government control, as well as growing market competition. Insurance premiums fell by 11.2% y/y to RMB 1.4tn in the first ...READ MORE
The insurance sector remained on a growth path in Q4 2017 with insurance premiums increasing by 5.7% y/y. However, the growth in the sector decelerated substantially in H2 2017 due to the tightening regulations and the saturation of the market in ...READ MORE
The total premiums in Poland’s insurance sector in 2017 stood at PLN 62.4bn or 3.1% of GDP. This share inched up by 0.1 pp in 2017 after two years of stagnation. The sector is important for the economy, both as a provider of jobs (it employs ...READ MORE
In 2017, Colombia’s banking sector continued to demonstrate resilience to tepid GDP growth, posting annual growth rates of 9% and 6% for total loans and total assets (measured in COP) respectively. In particular, mortgage loans experienced ...READ MORE
Brazil’s insurance sector displayed high resilience to the deep economic recession that the country experienced during the 2015-2016 period, recording double-digit growth rates in premium income. The sector continued to expand in 2017 ...READ MORE