According to the President of the Commission of Insurance Control, Social Security and Mutual Institutions (CCAMIP), the authority in charge created in July 2004, the French insurance market, which achieved a total volume of 194.6 billion USD in premiums collected in 2004, is displaying a sound financial state which boosts it to the fourth world ranking behind U.S.A (1 097.8 billion USD), Japan (492.4 Billion USD), and the United Kingdom (294.8 billion USD).