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Country experience: collection of insurance data in the United States

6.52.        The main source of the exports and imports of insurance services of the United States is a survey of its insurance enterprises entitled Quarterly Survey of Insurance Transactions by U.S. Insurance Companies with Foreign Persons (BE-45).[1] The survey, conducted by the Bureau of Economic Analysis (BEA), collects quarterly data on reinsurance premiums sold to and purchased from entities abroad and annual data on reinsurance claims paid and received, primary insurance premiums sold and claims paid, and auxiliary insurance services. There is a reporting threshold for the quarterly survey. That form distinguishes transactions with foreign affiliates, transactions with foreign parents and other members of affiliate foreign groups, and transactions with unaffiliated foreign persons.

6.53.        For the quarterly survey, filing is mandatory if, with respect to such transactions, any of the following eight items was greater than positive $8,000,000 or less than negative $8,000,000 for the previous calendar year, or can expected to be in the current calendar year, on an accrual basis: (a) premiums earned and (b) losses on reinsurance assumed; (c) premiums incurred and (d) losses on reinsurance ceded; (e) premiums earned and (f) losses on primary insurance sold; (g) sales of and (h) purchases of auxiliary insurance services.

6.54.        Every five years, BEA conducts the Benchmark Survey of Insurance Transactions by United States Insurance Companies with Foreign Persons (BE-140), a benchmark survey of insurance enterprises, to collect information on enterprises that fall below the reporting threshold on the quarterly survey.

6.55.        To ensure complete coverage of imports of insurance services, BEA asks non-insurance enterprises in the United States to report premiums paid to and losses recovered from foreign insurers on the  Survey of Transactions in Selected Services and Intellectual Property with Foreign Persons. BEA conducts that survey quarterly, and also as a benchmark survey every five years.

 

Back to C.4. Surveys of insurance and financial corporations

 


[1] All the forms are available from www.bea.gov/surveys/iussurv.htm.