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China, India Loom Large For U.S. Insurers

Growth potential unlimited, but local regulations, trade barriers restrict opportunities

By Steven Tuckey | Updated on July 16, 2006

As U.S. property-casualty insurance multinationals face pressure for top-line growth, foreign markets are taking on new strategic importance, with eyes focused on two emerging economic giants–India and China–offering powerhouse potential for commercial and personal lines expansion. Still, U.S. insurers looking to capitalize on opportunities abroad are also encountering significant obstacles that require patience and savvy to overcome.

Warren, N.J.-based Chubb Corp. has served overseas clients for almost 80 years, and today offers products where 95 percent of the world’s p-c insurance is sold. Indeed, almost 20 percent of Chubb’s overall written premium comes from foreign markets, according to Jan Tomlinson, who heads up Chubb’s international field operations.

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