Global insurance industry tipped for growth
Friday, 04 21 2017, Category: Insurance and Reinsurance, Country: World
The global insurance industry is likely to see slightly increased growth by 2018 driven by better economic prospects in the US and in many emerging markets which will offset negative factors such as declining growth in the Chinese market, according to Munich Re.
The world’s biggest reinsurer stressed that, in the longer term, the emerging markets of Asia will have the greatest growth potential, and their share of primary insurance premiums is expected to be on a par with that of Western Europe in the next few years.
Overall, it said it estimates that the international primary insurance sector will grow by 4.5 percent p.a. on average (3 percent in real terms, i.e. adjusted for inflation) in 2017 and 2018. Whilst premium income is likely to grow only nominally this year, slightly higher real growth of 3 percent is expected for 2018.
Source: Intelligent Insurer