Non-life premium growth increased by 2.6 percent in 2012, buoyed by economic expansion in emerging markets and selective price increases in advanced markets that are overriding depressed interest rates, a recent study shows.
“Premium growth held up well given the challenging economic environment,” says Daniel Staib, one of the authors of the latest Swiss Re sigma study.
Worldwide non-life premiums hit $1,992 billion last year, although the figure was still well under the growth rate experienced prior to the decade's economic crisis. Non-life insurance premium growth dropped to nearly five percent in 2008 before it began to rebound and grow by about 2.5 percent in 2010 — still far from the 10 percent premium growth seen by the non-life insurance sector in 2002.
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