3.3% increase in premium volume for the global insurance market

According to the magazine Sigma, the world's insurance market has reported a premium volume of 4 061 billion USD in 2007, a 3.3% rise in comparison with 2006.
Life insurance premiums have increased by 5.4% at 2.393 billion USD, a growth mainly driven by the development of the life class of business in the emerging countries whose turnover reached 219 billion USD, that is, a 13.1% increase.
In the non-life sector, worldwide premium growth has slowed down by 0.7% for a total of 1.668 billion USD
Worldwide inflation and financial markets upsets should, according to the 2008 forecasts, negatively impact the sector's profitability. The analysts are expecting life insurance to dwindle down while indemnification costs of third party liability insurance are going to rise.