Insurance Operational Risk Loss Data Report 2024

Report - June 2024

Download the latest Annual Insurance Operational Risk Loss Data Report for analysis of recent trends in our global insurance loss database.

This report provides a view of operational risk losses in 2023 compared to results from the previous five years. The report is available to ORX members to download for free, or for non-members to purchase for £1,500.

What's in the report

This report provides insights and analysis into operational risk losses in the insurance sector. The report is based on the operational risk loss data in the ORX global insurance database and includes:

Loss frequency and severity from 2018 to 2023
Average size of an operational risk event and total gross loss as a percentage of firm income
Total loss and frequency submitted in each business line and event type between 2018 to 2023
Typical levels of loss as a proportion of written premiums in both life and non-life business lines 
Analysis of the frequency and severity of loss in each event type by year
Risk in focus sections on external fraud; clients, products & business practices; and execution, delivery & process management  
Analysis of the distribution of loss including a look at some tail measures of loss  
Geographic distribution of losses