## Fgiure 1.11. Life Insurers' Market Valuations and Risk Outlook

## Source details

**Canonical URL:** [Fgiure 1.11. Life Insurers' Market Valuations and Risk Outlook](https://www.imf.org/-/media/files/publications/gfsr/2017/october/chapter-1/csv-data/figure1-11.csv)

## Other formats

- [Markdown version](/-/media/files/publications/gfsr/2017/october/chapter-1/csv-data/figure1-11.csv.md)
- [Structured JSON version](/-/media/files/publications/gfsr/2017/october/chapter-1/csv-data/figure1-11.csv.json)

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### 1. Life Insurers: Return on Equity (Period average, percent of sector assets per category)
- ROE > 10%:
  - United States 2005-07: 84.35
  - United States 2014-16: 33.69
  - Europe 2005-07: 90.62
  - Europe 2014-16: 31.81
  - Japan 2014-16: 4.32

### 2. Life Insurers' Price-to-Book Ratios
- Precrisis (2005-06 average) — Europe: 1.25
- 2017 (year-to-date average) — Europe: 0.83
- Additional Europe observations in sample rows:
  - Europe: 1.42 (precrisis)
  - Europe: 0.89 (2017)

### 3. Duration Mismatch and Guaranteed Return Spreads
- Long-term yield on sovereign bonds minus average guaranteed returns (percent): (column header present; no numeric value in sample rows)
- Duration of liabilities minus duration of assets (years): (column header present; sample country entries)
  - BEL: -1.9 (associated sample value)
  - NLD: -3 (associated sample value)
- Bubble size (column header present): 2 (associated sample value for BEL)
- Other sample numeric associations:
  - BEL: 0.75 (bubble-size related sample)
  - NLD: 0.7 (bubble-size related sample)

### 4. Projected Number of Years until Bond Returns Fall below Guaranteed Returns
- Sample country-year values in dataset rows:
  - USA: 14.62
  - BEL: 8.21
- Current interest rate environment (column header present; sample entry: USA)

*Dataset: figure1-11.csv (worksheet "csv", rowCount 82, columnCount 30).*

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_Source: https://www.imf.org/-/media/files/publications/gfsr/2017/october/chapter-1/csv-data/figure1-11.csv_