Insurance monopolies in capitalist countries

Insurance monopolies in capitalist countries are powerful elements of the credit and finance system, second only, in scale of operations, to the banking monopolies. In many countries, the government regulates the use of the monopolies' reserves, the monopolies themselves are linked to leading banking and industrial companies through the inter-locking of corporate directorates. They affect political activity because their representatives hold administrative positions in government and the armed forces. Internationally, insurance monopolies have expanded through a network of divisions and branches outside their countries and through reinsurance operations.