Commercial insurance premium growth was nearly three times higher in emerging markets compared to advanced markets from 2000-2010, and insurers are expected to seek more growth opportunities in these regions as economic growth slows in advanced markets, a new report says.
In its latest sigma study, titled “Insuring Ever-Evolving Commercial Risks,” Swiss Re says average annual premiums in emerging markets grew by 14 percent from 2000-2010, compared to 5.4 percent annual growth during that period in advanced markets.
Looking forward, the study notes that slower premium growth in advanced markets relative to emerging markets will likely continue into next year. “In 2013, commercial-premium growth in advanced economies is expected to remain subdued due to the sluggish economic recovery in North America and Europe,” says Swiss Re.
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