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Banking and insurance
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.
At the end of 2016 there were 163 insurance institutions operating in the People’s Republic of China, of which roughly 30% were foreign-funded or joint ventures. Traditional insurance subsectors such as life insurance and property insurance are ...
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Turkey’s insurance sector saw healthy premium growth rates over the 2012-2016 period, supported by rising employment, consumption and household incomes. Insurance premiums have increased nearly fourfold in the past decade. Still, insurance ...
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The agriculture, livestock and fishing sectors play a key role in the Mexican economy with their value added accounting for 3.6% of the GDP at the end of 2016. The primary industry is among the largest employers in the country, sustaining 13.2% of ...
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The Hungarian insurance sector is split evenly between the life and non-life segments. Unlike the European life insurance market, the Hungarian life segment is dominated by unit-linked products that are linked to investment schemes. In 2016, the ...
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Insurance proved to be one of the few sectors that are resilient to the deep economic recession in Brazil, marked by stubbornly high inflation, eroding job market and falling disposable income. The total insurance premium income in the country rose ...
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Malaysia’s insurance sector comprises both conventional insurers and “takaful” operators, who provide insurance products consistent with Islamic Shariah principles. Insurance penetration in Malaysia is low relative to that in many ...
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Hydropower made up 20.2% of the country’s total power generating capacity as of end-2016. China had 332 GW of hydropower capacity as at end-2016, up 3.9% y/y. New investment in the subsector reached RMB 61mn in 2016, down by 22% y/y, ...
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The banking sector in Malaysia accounted for 4.7% of GDP in 2016, boasting assets worth 198.8% of GDP and a workforce equivalent to 3% of the total employed workers in the country in 2016. The sector was home to 27 commercial, 11 investment, and 18 ...
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The insurance sector in Romania remains heavily underdeveloped, with the ratio of gross written premium (GWP) to GDP at 1% for non-life insurance and 0.2% for life insurance. The core of the insurance market continues to be motor vehicle insurance ...
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Construction is the fourth-largest economic sector in Colombia, accounting for 9.4% of the country’s GDP, 5% of total FDI inflow and 6.2% of formal employment in 2016. Over the period 2011-2014, the construction sector emerged as one of the ...
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