Growth of the global insurance market

BusinessAccording to Swiss Re economists, the global insurance market would continue to grow despite a difficult economic environment. The growth rate of life and non-life insurance is expected to rise to 3% over the next two years.

China would continue to play the role of market driver with a 9% increase in life insurance and almost 11% in non-life business. The Middle Kingdom, could even surpass the United States in the next 15 years and thus become the leader of the sector.

Sill according to Swiss Re specialists, a strong premium growth is expected in developing countries. In developed economies, lower costs would lead to higher profitability, especially in non-life insurance.

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