Increasingly globalised financial markets challenge policy-makers and have more and more impact on the real economy. With the major financial players free to allocate their portfolios between countries, the actions of national authorities are subject to the scrutiny of world financial markets.

Insurance companies are one of the cornerstones in any financial system. On the retail side, insurance is one of the only financial services that almost all households purchase. On the investment side, the size of insurance companies' placements in financial markets is unparalleled in most countries. Ninety five per cent of the world's insurance business is done in OECD countries.

Private or otherwise non-public pension plans become more and more important. Faced with the burden of financing a rapidly ageing population, governments in most countries have had to consider alternative ways of providing for the elderly. Moreover, responding to the very same pressures, the social partners and individual households show increasing interest in building up private pension plans.

The OECD bodies handling these activities are the Committee on Financial Markets, the Insurance Committee and the Working Party on Private Pensions. OECD also engages in activities with countries that are not members of the OECD, arranging workshops and seminars about financial topics of common interest.