Asia, first insurance market in 2017?
According to Clarence Wong, chief economist at Swiss Re, Asia will be ,in 2017, the world's largest insurance market in terms of premiums. The continent will be ahead of its North American and European counterparts.
The conclusions presented at the insurance Symposium in Thailand are based on a combination of many factors: the low penetration,the improved living standard, the increased investments and the emergence of a middle class.
In his speech, C. Wong did recall that the today's trend started many years ago. Presently in full growth, the turnover of the Asian insurance market was, ten years earlier. only half of its North American counterpart.
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