Burgeoning economies in emerging markets overseas provide enticing opportunities for insurance companies, and some major carriers are aggressively seeking to bolster their global market share.
Despite the inherent challenges in doing business in foreign territories—including the chance of adverse political developments; competition from local insurers; the need for establishing distribution networks; and mostly low underwriting margins—the potential upside to international expansion is too great to be ignored.
Asia and Latin America have contributed the most to emerging-market premium growth in the past decade, driven both by their healthy economic environments and improvements in insurance regulations.
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Shawn Moynihan
Shawn Moynihan is Editor-in-Chief of National Underwriter Property & Casualty. A St. John’s University alum, Moynihan has earned 11 Jesse H. Neal Awards, the Pulitzers of the business press; seven Azbee Awards, from the American Society of Business Press Editors; two Folio Awards; and a SABEW award, from the Society of American Business Editors & Writers. Prior to joining ALM, he served as Managing Editor/Online Editor of journalism institution Editor & Publisher, the trade bible of the newspaper industry. Moynihan also has held editorial positions with AOL, Metro New York, and Newhouse Newspapers. He can be reached at [email protected].
