IPO market share IPO proceeds amount · SouRCe: IPO proceeds data from Dealogic Analytics (data retrieved July 2012); GDP data from IMF, World Economic Outlook Database, April 2012

3: Data Tables | Non-banking financial services

Rank CountRy/eConomy value

1 Hong Kong SAR .................5.07 2 Malaysia .............................1.72 3 Singapore ...........................1.42 4 China .................................1.15 5 Poland................................0.70 6 Switzerland ........................0.62 7 Bahrain...............................0.55 8 Korea, Rep. ........................0.45 9 Brazil ..................................0.38 10 Norway ..............................0.38 11 India ...................................0.35 12 Denmark ............................0.33 13 Indonesia ...........................0.29 14 Australia .............................0.28 15 Chile ...................................0.22 16 United States .....................0.21 17 Canada ..............................0.21 18 Russian Federation .............0.21 19 South Africa .......................0.20 20 United Kingdom .................0.19 21 Kuwait 2 ..............................0.19 22 Israel ..................................0.17 23 Philippines ..........................0.17 24 Saudi Arabia .......................0.17 25 Argentina ............................0.17 26 Spain..................................0.17 27 Ukraine ...............................0.14 28 Turkey ................................0.12 29 Thailand .............................0.12 30 Italy ....................................0.11 31 Japan .................................0.10 32 Netherlands ........................0.10 33 Finland 1 .............................0.10 34 Bangladesh ........................0.09 35 Kenya .................................0.08 36 Colombia............................0.07 37 Mexico ...............................0.07 38 Greece ...............................0.06 39 Egypt .................................0.06 40 Germany ............................0.05 41 Ghana ................................0.05 42 Morocco.............................0.05 43 Hungary 1 ...........................0.05 44 Sweden ..............................0.04 45 Austria ................................0.04 46 Kazakhstan 2 ......................0.04 47 France ................................0.04 48 Nigeria ................................0.03 49 United Arab Emirates .........0.03 50 Peru ...................................0.03 51 Czech Republic ..................0.02 52 Belgium ..............................0.01 53 Tanzania .............................0.01 54 Pakistan .............................0.01 55 Jordan ................................0.00 56 Ireland ................................0.00 57 Vietnam ..............................0.00 58 Romania .............................0.00 n/a Panama................................n/a n/a Portugal ...............................n/a n/a Slovak Republic....................n/a n/a Venezuela .............................n/a


1 China ...............................37.78 2 United States ...................16.95 3 Hong Kong SAR .................6.22 4 Brazil ..................................4.33 5 Japan .................................3.11 6 India ...................................2.89 7 Korea, Rep. ........................2.42 8 United Kingdom .................2.36 9 Malaysia .............................2.20 10 Australia .............................1.91 11 Switzerland ........................1.86 12 Canada ..............................1.79 13 Poland................................1.78 14 Russian Federation .............1.75 15 Singapore ...........................1.74 16 Spain..................................1.32 17 Italy ....................................1.27 18 Indonesia ...........................1.09 19 Germany ............................0.98 20 Norway ..............................0.88 21 Denmark ............................0.57 22 France ................................0.55 23 Turkey ................................0.45 24 Netherlands ........................0.45 25 Saudi Arabia .......................0.43 26 South Africa .......................0.38 27 Mexico ...............................0.38 28 Argentina ............................0.35 29 Chile ...................................0.25 30 Israel ..................................0.20 31 Thailand .............................0.19 32 Philippines ..........................0.18 33 Kuwait 2 ..............................0.16 34 Finland 1 .............................0.15 35 Sweden ..............................0.11 36 Colombia............................0.11 37 Greece ...............................0.11 38 Ukraine ...............................0.11 39 Austria ................................0.10 40 Egypt .................................0.07 41 Bahrain...............................0.07 42 Bangladesh ........................0.05 43 United Arab Emirates .........0.05 44 Hungary 1 ...........................0.04 45 Nigeria ................................0.04 46 Kazakhstan 2 ......................0.04 47 Belgium ..............................0.03 48 Morocco.............................0.02 49 Peru ...................................0.02 50 Czech Republic ..................0.02 51 Kenya .................................0.01 52 Ghana ................................0.01 53 Pakistan .............................0.01 54 Ireland ................................0.00 55 Tanzania .............................0.00 56 Vietnam ..............................0.00 57 Jordan ................................0.00 58 Romania .............................0.00 n/a Panama................................n/a n/a Portugal ...............................n/a n/a Slovak Republic....................n/a n/a Venezuela .............................n/a

SouRCe: IPO proceeds data from Dealogic Analytics (data retrieved July 2012); GDP data from IMF, World Economic Outlook Database, April 2012

1 2007–2009 2 2008–2010

SouRCe:Dealogic Analytics (data retrieved July 2012)

1 2007–2009 2 2008–2010

This is the three-year average of total initial public offering (IPO) proceeds

as a percent of GDP | 2009–2011

IPO proceeds amount

5.02

This is the three-year average of percent of world initial public offerings

(IPOs) issued in a given country, as measured in US dollars | 2009–2011

IPO market share

5.01

360 | The Financial Development Report 2012



1 United States ...................34.41 2 United Kingdom .................6.82 3 China .................................6.75 4 Japan .................................4.53 5 Australia .............................3.99 6 Brazil ..................................3.92 7 Canada ..............................3.80 8 Germany ............................3.80 9 Spain..................................3.33 10 France ................................3.23 11 Russian Federation .............2.86 12 Italy ....................................2.13 13 India ...................................1.86 14 Korea, Rep. ........................1.85 15 Switzerland ........................1.75 16 Netherlands ........................1.69 17 Sweden ..............................0.89 18 Hong Kong SAR .................0.89 19 Belgium ..............................0.87 20 Mexico ...............................0.85 21 Singapore ...........................0.70 22 Ireland ................................0.62 23 South Africa .......................0.60 24 Norway ..............................0.55 25 Malaysia .............................0.54 26 Poland................................0.51 27 Chile ...................................0.48 28 Austria ................................0.45 29 Indonesia ...........................0.45 30 Denmark ............................0.43 31 Turkey ................................0.41 32 Philippines ..........................0.36 33 Colombia............................0.32 34 Kazakhstan ........................0.32 35 Thailand .............................0.27 36 Israel ..................................0.27 37 Argentina ............................0.23 38 Czech Republic ..................0.21 39 United Arab Emirates .........0.21 40 Ukraine ...............................0.20 41 Finland ...............................0.18 42 Portugal .............................0.17 43 Hungary .............................0.14 44 Greece ...............................0.12 45 Morocco.............................0.12 46 Peru ...................................0.11 47 Vietnam ..............................0.09 48 Egypt .................................0.09 49 Venezuela ...........................0.08 50 Saudi Arabia .......................0.08 51 Nigeria ................................0.06 52 Panama..............................0.04 53 Kuwait ................................0.04 54 Romania .............................0.03 55 Pakistan .............................0.03 56 Slovak Republic..................0.02 57 Bangladesh ........................0.02 58 Ghana ................................0.02 59 Bahrain...............................0.01 60 Jordan ................................0.01 61 Tanzania .............................0.00 n/a Kenya ...................................n/a


1 China ...............................30.20 2 Canada ............................11.56 3 United States .....................9.32 4 Poland................................8.02 5 Korea, Rep. ........................6.66 6 Australia .............................4.54 7 India ...................................3.96 8 United Kingdom .................2.48 9 Japan .................................2.36 10 Malaysia .............................2.00 11 Hong Kong SAR .................1.97 12 Indonesia ...........................1.82 13 Singapore ...........................1.75 14 France ................................1.39 15 Thailand .............................1.24 16 Turkey ................................1.12 17 Brazil ..................................0.88 18 Israel ..................................0.79 19 Germany ............................0.73 20 Bangladesh ........................0.70 20 Saudi Arabia .......................0.70 22 Russian Federation .............0.61 23 Spain..................................0.57 24 Italy ....................................0.54 25 Norway ..............................0.48 26 Sweden ..............................0.36 27 South Africa .......................0.33 28 Ukraine ...............................0.30 29 Philippines ..........................0.27 30 Chile ...................................0.24 30 Mexico ...............................0.24 32 Czech Republic ..................0.15 32 Greece ...............................0.15 34 Finland 1 .............................0.13 35 Belgium ..............................0.12 35 Colombia............................0.12 35 Denmark ............................0.12 35 Morocco.............................0.12 35 Netherlands ........................0.12 40 Kuwait 2 ..............................0.11 41 Argentina ............................0.09 41 Switzerland ........................0.09 41 United Arab Emirates .........0.09 44 Kazakhstan 2 ......................0.07 45 Austria ................................0.06 45 Egypt .................................0.06 45 Ireland ................................0.06 45 Kenya .................................0.06 45 Nigeria ................................0.06 45 Pakistan .............................0.06 51 Hungary 1 ...........................0.03 52 Bahrain...............................0.03 52 Ghana ................................0.03 52 Jordan ................................0.03 52 Peru ...................................0.03 52 Romania .............................0.03 52 Tanzania .............................0.03 52 Vietnam ..............................0.03 n/a Panama................................n/a n/a Portugal ...............................n/a n/a Slovak Republic....................n/a n/a Venezuela .............................n/a

SouRCe: Dealogic Analytics (data retrieved July 2012)SouRCe: Dealogic Analytics (data retrieved July 2012)

1 2007–2009 2 2008–2010

This is the three-year average of the dollar value of mergers and

acquisitions (M&As) occurring in a given country as a percent of the total

global value | 2009–2011

M&A market share

5.04

This is the three-year average of the number of initial public offering (IPO)

issues as a percent of total global number of issues | 2009–2011

Share of world IPOs

5.03

The Financial Development Report 2012 | 361



1 United States ...................23.30 2 China .................................9.68 3 Japan .................................7.06 4 Russian Federation .............6.18 5 United Kingdom .................6.10 6 Canada ..............................4.83 7 Australia .............................4.17 8 France ................................3.67 9 Germany ............................3.39 10 India ...................................3.11 11 Korea, Rep. ........................2.71 12 Spain..................................2.60 13 Sweden ..............................1.99 14 Italy ....................................1.91 15 Malaysia .............................1.70 16 Netherlands ........................1.44 17 Brazil ..................................1.27 18 Hong Kong SAR .................1.19 19 Singapore ...........................1.00 20 Norway ..............................0.89 21 Switzerland ........................0.80 22 Poland................................0.79 23 Indonesia ...........................0.79 24 Denmark ............................0.77 25 Ukraine ...............................0.68 26 South Africa .......................0.66 27 Thailand .............................0.57 28 Belgium ..............................0.54 29 Finland ...............................0.47 30 Vietnam ..............................0.42 31 Austria ................................0.40 32 Mexico ...............................0.37 33 Chile ...................................0.35 34 Philippines ..........................0.34 35 Czech Republic ..................0.31 36 Argentina ............................0.31 37 Israel ..................................0.30 38 Turkey ................................0.30 39 Ireland ................................0.29 40 Colombia............................0.27 41 Portugal .............................0.23 42 Peru ...................................0.22 43 Hungary .............................0.19 44 Romania .............................0.19 45 United Arab Emirates .........0.15 46 Egypt .................................0.12 47 Kazakhstan ........................0.11 48 Greece ...............................0.10 49 Jordan ................................0.09 50 Saudi Arabia .......................0.09 51 Kuwait ................................0.06 51 Slovak Republic..................0.06 53 Morocco.............................0.06 54 Nigeria ................................0.06 55 Pakistan .............................0.06 56 Venezuela ...........................0.05 57 Tanzania .............................0.05 58 Panama..............................0.05 59 Ghana ................................0.04 60 Bangladesh ........................0.03 61 Bahrain...............................0.03 n/a Kenya ...................................n/a


1 Hong Kong SAR .................9.87 2 Australia .............................8.08 3 Switzerland ........................7.97 4 Singapore ...........................7.89 5 United Kingdom .................7.50 6 Ireland ................................7.25 7 Canada ..............................6.17 8 United States .....................5.96 9 Spain..................................5.79 10 Malaysia .............................5.76 11 Chile ...................................5.66 12 Kazakhstan ........................5.43 13 Netherlands ........................5.27 14 Sweden ..............................4.80 15 Russian Federation .............4.73 16 Brazil ..................................4.72 17 Korea, Rep. ........................4.71 18 Philippines ..........................4.61 19 Belgium ..............................4.50 20 South Africa .......................4.28 21 Panama..............................4.13 22 Ukraine ...............................3.56 23 Denmark ............................3.36 24 Morocco.............................3.28 25 Norway ..............................3.27 26 India ...................................3.10 27 Israel ..................................3.09 28 France ................................3.05 29 Austria ................................2.86 30 Colombia............................2.85 31 Germany ............................2.82 32 China .................................2.79 33 Poland................................2.74 34 Hungary .............................2.65 35 Czech Republic ..................2.65 36 Italy ....................................2.53 37 Vietnam ..............................2.22 38 Thailand .............................2.20 39 Japan .................................2.08 40 Mexico ...............................2.08 41 Peru ...................................1.91 42 Portugal .............................1.82 43 Finland ...............................1.81 44 United Arab Emirates .........1.70 45 Indonesia ...........................1.61 46 Argentina ............................1.51 47 Turkey ................................1.47 48 Bahrain...............................1.28 49 Ghana ................................1.19 50 Egypt .................................1.04 51 Greece ...............................1.00 52 Jordan ................................0.98 53 Kuwait ................................0.81 54 Nigeria ................................0.75 55 Venezuela ...........................0.68 56 Slovak Republic..................0.58 57 Tanzania .............................0.54 58 Romania .............................0.50 59 Saudi Arabia .......................0.42 60 Bangladesh ........................0.38 61 Pakistan .............................0.36 n/a Kenya ...................................n/a

SouRCe: Dealogic Analytics (data retrieved July 2012)

SouRCe: M&A transaction value data from Dealogic Analytics (data retrieved July 2012); GDP data from IMF, World Economic Outlook Database, April 2012

This is the three-year average of the percent of world mergers and

acquisitions (M&A) deals occurring in a given country, as measured by

the share of the total number of global M&A deals | 2009–2011

Share of total number of M&A deals

5.06

This variable is the rank value of the three-year average of mergers and

acquisitions (M&A) transactions in US dollars as a percent of GDP |

2009–2011

M&A transaction value to GDP

5.05




1 Netherlands ........................9.49 2 Korea, Rep. ........................4.59 3 United Kingdom .................4.53 4 Switzerland ........................4.48 5 United States .....................4.42 6 Ireland ................................4.23 7 Canada ..............................3.98 8 Germany ............................3.67 9 France ................................3.54 10 Denmark ............................3.36 11 Venezuela ...........................3.28 12 Austria ................................3.17 13 Singapore ...........................3.15 14 Australia .............................2.95 15 Belgium ..............................2.95 16 Spain..................................2.73 17 Panama..............................2.68 18 South Africa .......................2.66 19 Italy ....................................2.52 20 Portugal .............................2.42 21 Israel ..................................2.38 22 Argentina ............................2.29 23 Russian Federation .............2.27 24 Japan .................................2.23 25 Czech Republic ..................2.18 26 Norway ..............................2.02 27 Morocco.............................2.00 28 Kenya .................................1.97 29 Jordan ................................1.93 30 Poland................................1.92 31 Sweden ..............................1.89 32 Finland ...............................1.87 33 Malaysia .............................1.78 34 Ukraine ...............................1.77 35 Thailand .............................1.74 36 Bahrain...............................1.65 37 Chile ...................................1.65 38 Colombia............................1.63 39 Slovak Republic..................1.57 40 United Arab Emirates .........1.50 41 Brazil ..................................1.49 42 Hong Kong SAR .................1.35 43 Greece ...............................1.30 44 Hungary .............................1.26 45 China .................................1.20 46 Turkey ................................1.09 47 Romania .............................1.08 48 Mexico ...............................1.05 49 Vietnam ..............................0.84 50 Saudi Arabia .......................0.81 51 Peru ...................................0.79 52 India ...................................0.73 53 Kazakhstan ........................0.55 54 Indonesia ...........................0.55 55 Nigeria ................................0.48 56 Philippines ..........................0.46 57 Egypt .................................0.41 58 Kuwait ................................0.35 59 Pakistan .............................0.30 60 Bangladesh ........................0.23 n/a Ghana ..................................n/a n/a Tanzania ...............................n/a


1 Ireland ..............................19.77 2 South Africa .....................10.18 3 Hong Kong SAR ...............10.09 4 Japan .................................8.94 5 United Kingdom .................8.69 6 Finland ...............................7.66 7 Korea, Rep. ........................7.09 8 Denmark ............................6.45 9 France ................................6.29 10 Sweden ..............................5.94 11 Switzerland ........................5.52 12 Belgium ..............................5.05 13 Italy ....................................4.78 14 Portugal .............................4.41 15 Singapore ...........................4.34 16 Netherlands ........................3.71 17 India ...................................3.61 18 United States .....................3.56 19 Malaysia .............................3.34 20 Germany ............................3.18 21 Australia .............................3.04 22 Canada ..............................3.00 23 Israel ..................................2.75 24 Thailand .............................2.67 25 Norway ..............................2.66 26 Spain..................................2.63 27 Austria ................................2.33 28 Chile ...................................2.25 29 Czech Republic ..................1.89 30 China .................................1.84 31 Poland................................1.80 32 Brazil ..................................1.65 33 Hungary .............................1.56 34 Slovak Republic..................1.41 35 Indonesia ...........................1.12 36 Kenya .................................1.01 37 Greece ...............................0.97 38 Philippines ..........................0.89 39 Morocco.............................0.88 40 Mexico ...............................0.87 41 Panama..............................0.77 42 Peru ...................................0.71 43 Bangladesh ........................0.70 44 Colombia............................0.69 45 Vietnam ..............................0.67 46 Argentina ............................0.58 47 Bahrain...............................0.57 48 Pakistan .............................0.35 49 United Arab Emirates .........0.34 50 Egypt .................................0.31 51 Romania .............................0.29 52 Turkey ................................0.20 53 Jordan ................................0.19 54 Nigeria ................................0.17 55 Venezuela ...........................0.14 56 Kazakhstan ........................0.12 57 Kuwait ................................0.10 58 Ukraine ...............................0.10 59 Russian Federation .............0.06 60 Saudi Arabia .......................0.05 n/a Ghana ..................................n/a n/a Tanzania ...............................n/a

Life insurance penetration

SouRCe: Swiss Re, World Insurance in 2011: Non-life Ready to Take Off, 2012; GDP data from IMF, World Economic Outlook Database, April 2012

SouRCe: Swiss Re, World Insurance in 2011: Non-life Ready to Take Off, 2012; GDP data from IMF, World Economic Outlook Database, April 2012

This variable is the ratio of direct non-life insurance premiums from

domestic sources to GDP | 2011

Non-life insurance penetration

5.08

This variable is the ratio of direct life insurance premiums from domestic

sources to GDP | 2011

5.07




1 India .................................43.52 2 China ...............................24.85 3 Japan ...............................11.43 4 United States ...................11.11 5 United Kingdom .................5.44 6 South Africa .......................5.15 7 France ................................3.97 8 Korea, Rep. ........................3.48 9 Brazil ..................................3.21 10 Italy ....................................2.90 11 Indonesia ...........................2.69 12 Germany ............................2.60 13 Thailand .............................1.71 14 Spain..................................1.21 15 Bangladesh ........................1.16 16 Canada ..............................1.03 17 Mexico ...............................0.99 18 Malaysia .............................0.96 19 Ireland ................................0.91 20 Philippines ..........................0.85 21 Hong Kong SAR .................0.72 22 Australia .............................0.69 23 Poland................................0.68 24 Netherlands ........................0.62 25 Pakistan .............................0.62 26 Vietnam ..............................0.60 27 Sweden ..............................0.56 28 Belgium ..............................0.55 29 Portugal .............................0.47 30 Switzerland ........................0.43 31 Finland ...............................0.41 32 Kenya .................................0.41 33 Chile ...................................0.39 34 Denmark ............................0.36 35 Colombia............................0.32 36 Morocco.............................0.28 37 Nigeria ................................0.27 38 Egypt .................................0.25 39 Argentina ............................0.24 40 Singapore ...........................0.23 41 Peru ...................................0.21 42 Israel ..................................0.21 43 Czech Republic ..................0.20 44 Austria ................................0.20 45 Hungary .............................0.16 46 Turkey ................................0.15 47 Norway ..............................0.13 48 Greece ...............................0.11 49 Russian Federation .............0.09 50 Slovak Republic..................0.08 51 Romania .............................0.06 52 Ukraine ...............................0.05 53 Venezuela ...........................0.04 54 Panama..............................0.03 55 Kazakhstan ........................0.02 56 United Arab Emirates .........0.02 57 Saudi Arabia .......................0.01 58 Jordan ................................0.01 59 Bahrain...............................0.01 60 Kuwait ................................0.00 n/a Ghana ..................................n/a n/a Tanzania ...............................n/a


1 Argentina ..........................21.90 2 Kenya 1 ............................18.00 3 Kazakhstan ......................15.70 4 Kuwait 1 ............................15.30 5 Turkey ..............................14.20 6 Philippines ........................12.30 7 Russian Federation ...........12.00 8 Indonesia .........................11.70 9 Colombia..........................11.10 10 United Arab Emirates .......10.30 11 Mexico ...............................9.90 12 Brazil ..................................8.70 13 Saudi Arabia .......................8.30 14 Panama..............................8.20 15 Chile ...................................7.40 16 Malaysia .............................6.50 16 Peru ...................................6.50 18 Singapore ...........................6.40 19 Thailand .............................6.30 20 Japan .................................5.80 21 Australia .............................5.40 22 Korea, Rep. ........................5.30 23 Norway ..............................4.70 24 Israel ..................................4.60 25 Hong Kong SAR .................4.10 26 Vietnam ..............................3.80 27 Jordan ................................3.50 28 Morocco 1 ..........................3.20 29 Bahrain 1 ............................2.90 30 Pakistan 1 ...........................2.80 31 Ireland ................................2.40 32 Switzerland ........................2.20 33 Poland................................2.10 34 South Africa .......................1.90 35 Spain..................................1.00 36 Netherlands ........................0.90 37 United States .....................0.50 38 Denmark ............................0.30 39 Slovak Republic................ -0.10 40 Canada ............................ -0.50 41 Venezuela 1....................... -1.30 42 United Kingdom ............... -1.80 43 Czech Republic ................ -2.50 44 Germany .......................... -2.80 45 Ukraine ............................. -3.20 46 Sweden ............................ -3.50 47 Austria .............................. -4.30 47 Belgium ............................ -4.30 49 Egypt ............................... -5.40 50 India ................................. -5.50 51 China ............................... -6.40 52 Finland ............................. -6.50 52 Greece 1 ........................... -6.50 54 Nigeria 1 ........................... -6.90 55 Hungary ........................... -7.40 56 France ............................ -10.00 57 Romania ......................... -10.10 58 Italy ................................ -14.70 59 Portugal ......................... -31.20 n/a Bangladesh ..........................n/a n/a Ghana ..................................n/a n/a Tanzania ...............................n/a

SouRCe: Swiss Re, World Insurance in 2011: Non-life Ready to Take Off, 2012; GDP per capita data from IMF, World Economic Outlook Database, April 2012

SouRCe: Swiss Re, World Insurance in 2011: Non-life Ready to Take Off, 2012

1 2010

This is the ratio of direct domestic premiums for life insurance to per

capita GDP | 2011

Life insurance density

5.10

This is the annual real rate of growth, in percent, of direct premiums

(life and non-life) based on local currency prices | 2011

Real growth of direct insurance premiums

5.09




1 Bahrain...............................5.96 2 Australia .............................3.99 3 Hong Kong SAR .................3.81 4 Singapore ...........................3.24 5 Switzerland ........................3.13 6 Israel ..................................2.95 7 United States .....................2.76 8 Malaysia .............................2.61 9 United Arab Emirates .........2.36 10 Jordan ................................2.34 11 Korea, Rep. ........................2.15 12 South Africa .......................2.14 13 Ukraine ...............................2.03 14 Ireland ................................2.03 15 Brazil ..................................1.94 16 Morocco.............................1.71 17 Egypt .................................1.68 18 Argentina ............................1.66 19 Japan .................................1.61 20 Kenya .................................1.59 21 Chile ...................................1.58 22 Netherlands ........................1.51 23 Philippines ..........................1.46 24 United Kingdom .................1.41 25 Denmark ............................1.32 26 Canada ..............................1.27 27 Colombia............................1.27 28 Sweden ..............................1.19 29 Belgium ..............................1.17 30 Portugal .............................1.16 31 Peru ...................................1.12 32 Turkey ................................1.10 33 Norway ..............................1.08 34 India ...................................1.05 35 Indonesia ...........................1.05 36 France ................................1.02 37 Poland................................0.99 38 Saudi Arabia .......................0.94 39 Austria ................................0.88 40 Panama..............................0.78 41 Czech Republic ..................0.73 42 Finland ...............................0.66 43 China .................................0.65 44 Spain..................................0.65 45 Germany ............................0.61 46 Hungary .............................0.58 47 Thailand .............................0.55 48 Vietnam ..............................0.53 49 Nigeria ................................0.51 50 Bangladesh ........................0.51 51 Pakistan .............................0.49 52 Slovak Republic..................0.47 53 Mexico ...............................0.43 54 Italy ....................................0.40 55 Romania .............................0.40 56 Russian Federation .............0.37 57 Greece ...............................0.35 58 Kuwait ................................0.27 59 Venezuela ...........................0.25 n/a Ghana ..................................n/a n/a Kazakhstan ..........................n/a n/a Tanzania ...............................n/a


1 China ...............................16.13 2 United States ...................13.79 3 India ...................................8.78 4 Russian Federation .............3.24 5 Germany ............................3.00 6 Brazil ..................................2.91 7 Japan .................................2.85 8 United Kingdom .................2.84 9 Korea, Rep. ........................2.25 10 France ................................2.24 11 Netherlands ........................1.58 12 Italy ....................................1.53 13 Canada ..............................1.37 14 South Africa .......................1.34 15 Indonesia ...........................1.33 16 Spain..................................1.26 17 Mexico ...............................1.20 18 Thailand .............................1.12 19 Venezuela ...........................0.98 20 Argentina ............................0.94 21 Kenya .................................0.81 22 Turkey ................................0.81 23 Ukraine ...............................0.81 24 Nigeria ................................0.77 25 Colombia............................0.75 26 Vietnam ..............................0.75 27 Poland................................0.73 28 Australia .............................0.67 29 Morocco.............................0.65 30 Pakistan .............................0.53 31 Malaysia .............................0.51 32 Philippines ..........................0.45 33 Bangladesh ........................0.38 34 Switzerland ........................0.35 35 Egypt .................................0.33 36 Belgium ..............................0.32 37 Chile ...................................0.29 38 Austria ................................0.27 39 Portugal .............................0.26 40 Peru ...................................0.24 41 Romania .............................0.23 42 Czech Republic ..................0.23 43 Saudi Arabia .......................0.23 44 Ireland ................................0.19 45 Denmark ............................0.19 46 Israel ..................................0.18 47 Sweden ..............................0.18 48 Singapore ...........................0.17 49 Greece ...............................0.15 50 Hungary .............................0.13 51 Jordan ................................0.12 52 Finland ...............................0.10 53 Norway ..............................0.10 54 Hong Kong SAR .................0.10 55 Panama..............................0.10 56 Kazakhstan ........................0.09 57 Slovak Republic..................0.09 58 United Arab Emirates .........0.08 59 Bahrain...............................0.02 60 Kuwait ................................0.01 n/a Ghana ..................................n/a n/a Tanzania ...............................n/a

SouRCe: IHS, World Industry Services (data retrieved August 2012); GDP data from IMF, World Economic Outlook Database, April 2012

SouRCe: Swiss Re, World Insurance in 2011: Non-life Ready to Take Off, 2012; GDP per capita data from IMF, World Economic Outlook Database, April 2012

This is the value added by insurance and pension services to the

economy, after costs are subtracted, as a percent of GDP | 2011

Relative value added of insurance to GDP

5.12

This is the ratio of direct domestic premiums for non-life insurance to per

capita GDP | 2011

Non-life insurance density

5.11




1 United States ...................53.63 2 Korea, Rep. ........................9.89 3 India ...................................5.60 4 Russian Federation .............4.54 5 Japan .................................2.86 6 Canada ..............................2.03 7 United Kingdom .................1.87 8 Australia .............................1.66 9 Brazil ..................................1.61 10 Argentina ............................1.56 11 Germany ............................1.53 12 Indonesia ...........................1.22 13 Mexico ...............................1.14 14 Philippines ..........................1.14 15 China .................................0.99 16 Netherlands ........................0.84 17 Malaysia .............................0.83 18 France ................................0.77 19 Peru ...................................0.65 20 Norway ..............................0.59 20 Spain..................................0.59 22 Italy ....................................0.53 23 Colombia............................0.50 24 Singapore ...........................0.39 25 Hong Kong SAR .................0.36 26 Switzerland ........................0.24 27 Vietnam ..............................0.21 28 Ireland ................................0.18 28 Ukraine ...............................0.18 30 Chile ...................................0.17 30 Greece ...............................0.17 30 Sweden ..............................0.17 33 Belgium ..............................0.14 33 Kazakhstan ........................0.14 33 Poland................................0.14 36 Denmark ............................0.12 37 Pakistan .............................0.11 38 Czech Republic ..................0.09 39 Finland ...............................0.08 39 Turkey ................................0.08 41 Kuwait 1 ..............................0.06 41 Romania 1 ..........................0.06 43 Egypt .................................0.06 43 Nigeria ................................0.06 43 Portugal .............................0.06 43 South Africa .......................0.06 43 Venezuela ...........................0.06 48 Hungary .............................0.05 48 United Arab Emirates .........0.05 50 Slovak Republic 1 ...............0.04 51 Austria ................................0.03 51 Israel ..................................0.03 51 Thailand .............................0.03 54 Jordan 1 .............................0.02 54 Morocco 1 ..........................0.02 56 Panama..............................0.02 56 Saudi Arabia .......................0.02 58 Bahrain 1 ............................0.01 58 Bangladesh 1 ......................0.01 n/a Ghana ..................................n/a n/a Kenya ...................................n/a n/a Tanzania ...............................n/a


1 United States .....................5.05 2 Jordan 1 .............................3.66 3 Netherlands ........................2.81 4 Korea, Rep. ........................2.57 5 Philippines ..........................2.31 6 United Kingdom .................2.14 7 Australia .............................1.78 8 Kazakhstan ........................1.49 9 Kuwait 1 ..............................1.38 10 Russian Federation .............1.33 11 Canada ..............................1.24 12 Ireland ................................1.24 13 Venezuela ...........................0.93 14 Singapore ...........................0.82 15 Ukraine ...............................0.76 16 Morocco 1 ..........................0.72 17 Indonesia ...........................0.70 18 Hong Kong SAR .................0.66 19 Peru ...................................0.64 20 Mexico ...............................0.64 21 Norway ..............................0.59 22 Colombia............................0.58 23 Japan .................................0.57 24 Germany ............................0.55 25 India ...................................0.53 26 Brazil ..................................0.52 27 Pakistan .............................0.50 28 Slovak Republic 1 ...............0.47 29 Italy ....................................0.46 30 Argentina ............................0.43 31 Malaysia .............................0.43 32 Denmark ............................0.42 33 Romania 1 ..........................0.40 34 Spain..................................0.35 35 Vietnam ..............................0.35 36 Portugal .............................0.34 37 France ................................0.32 38 Switzerland ........................0.31 39 Chile ...................................0.28 40 Czech Republic ..................0.27 41 Belgium ..............................0.26 42 South Africa .......................0.25 43 Greece ...............................0.23 44 Poland................................0.21 45 Panama..............................0.18 46 Sweden ..............................0.18 47 Hungary .............................0.17 48 Nigeria ................................0.16 49 Egypt .................................0.15 50 United Arab Emirates .........0.15 51 China .................................0.12 52 Finland ...............................0.11 53 Bahrain 1 ............................0.08 54 Israel ..................................0.05 55 Thailand .............................0.04 56 Austria ................................0.04 57 Turkey ................................0.03 58 Saudi Arabia .......................0.03 59 Bangladesh 1 ......................0.01 n/a Ghana ..................................n/a n/a Kenya ...................................n/a n/a Tanzania ...............................n/a

SouRCe: Dealogic Analytics (data retrieved July 2012)

1 2007–2009

This is the three-year average of the sum of asset-backed securities

(ABS), mortgage-backed securities (MBS), high-yield bonds, and highly

leveraged loans deals as a percent of total deals | 2009–2011

Share of total number of securitization deals

5.14

This is the three-year average of the sum of asset-backed securities

(ABS), mortgage-backed securities (MBS), high-yield bonds, and highly

leveraged loans’ deal value as a percent of GDP | 2009–2011

Securitization to GDP

5.13


SouRCe: Dealogic Analytics (data retrieved July 2012); GDP data from IMF, World Economic Outlook Database, April 2012

1 2007–2009

Documents

IPO market share IPO proceeds amount · SouRCe: IPO proceeds data from Dealogic Analytics (data retrieved July 2012); GDP data from IMF, World Economic Outlook Database, April 2012