9 classes

What insurers are licensed to write

Each of the 886 entities carries one licence class as recorded by its supervisor. Composite licences, which allow both life and non-life business, survive mainly in markets that have not yet mandated separation.

Code G

General (Non-life)

372 entities in 38 of 50 countries

Short-term property, casualty, motor, marine and other non-life covers.

Code L

Life

236 entities in 29 of 50 countries

Long-term life assurance, annuities, pensions and savings products.

Code C

Composite

125 entities in 32 of 50 countries

Licensed to write both life and non-life business under one entity.

Code R

Reinsurer

58 entities in 21 of 50 countries

Carriers that accept risk ceded by primary insurers.

Code T

Takaful / Islamic

30 entities in 10 of 50 countries

Sharia-compliant risk-sharing operators (takaful and retakaful).

Code M

Microinsurer

26 entities in 4 of 50 countries

Low-premium covers for low-income households and small businesses.

Code F

Funeral / Assistance

14 entities in 2 of 50 countries

Funeral, assistance and burial benefit providers.

Code X

Specialty / Credit / Captive

14 entities in 8 of 50 countries

Credit, trade, captive, agricultural or other specialist carriers.

Code H

Health / Medical

11 entities in 6 of 50 countries

Medical, health and hospital cash insurers licensed separately from life.