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ADMINISTRATIVE INFORMATION
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Title |
ICO - Insurance Corporations Operations |
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Data source |
National central banks (NCBs) and ECB |
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Contact email address |
Statistical Information Request form |
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TECHNICAL INFORMATION
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Dataset last update in SDW |
2023-05-08 10:00:00 |
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Catalog |
Download the series catalogue of the dataset ICO in CSV format, i.e. full list of series and associated metadata: Excel 2013 (zipped) or the earlier Excel versions. |
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LEGAL AND INSTITUTIONAL ENVIRONMENT
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Institutional mandate |
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. |
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Legal acts and other agreements |
Regulation ECB/2014/50 concerning statistical reporting requirements for insurance corporations. Guideline ECB/2014/15 on monetary and financial statistics (recast) |
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SCOPE
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Data presentation - Summary description |
ICO statistics refer to premiums written, claims incurred and acquisition expenses of insurance corporations resident in the euro area. |
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Data presentation - Detailed description |
ICs are divided into:
(i) reinsurance corporations
(ii) life insurance corporations
(iii) non-life insurance corporations
(iv) composite insurance corporations |
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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. |
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Reference area coverage |
Euro Area |
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Sector coverage |
Insurance corporations belonging to the sub-sector “insurance corporations" in the ESA 2010, sector S.128. |
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Time coverage |
These statistics are available as of reference period 2017 |
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METHODOLOGICAL INFORMATION
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Source data type |
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. |
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Time period |
Annual |
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Time period - collection |
End of the period |
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Frequency of data collection |
Annual |
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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. |
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STATISTICAL PROCESSING
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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. |
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Adjustment |
Neither seasonally nor working-day adjusted. |
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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. |
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Data revision - policy |
The revisions policy and procedures set by the ECB and the relevant NCB must be followed. |
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QUALITY
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Quality management |
Quality is ensured by means of a comprehensive legal framework included in the Guideline ECB/2014/15 on monetary and financial statistics (recast) |
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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. |
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DISSEMINATION
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Release policy - release calendar |
See the release calendar for insurance corporations statistics in the euro area on the ECB’s website. |
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Dissemination format |
Statistical Data Warehouse (SDW) and ECB website |
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Dissemination format - news release |
Press release on the ECB Website |
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MISCELLANEOUS
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Metadata last update |
26/OCT/2020 18:55:01 |
