A wise person once interrupted one of my questions when I used the term "average insurer." My interview subject responded that, to the best of her knowledge, there was no such thing as an "average insurer."

And how could there be. We have life insurers, health insurers, property & casualty insurers, and reinsurers. And tucked into each of those groups are various lines of insurance that differentiate things such as personal vs. commercial lines and life insurance vs. annuities. To complicate the issue even more, we have different tiers among the insurance carriers—large, medium, and small if you prefer, or Tier 1, Tier 2 or Tier 3 if you are so inclined.

The point here is that diversity abounds in the insurance industry in North America, but what about the rest of the world?

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