According to Willis Towers Watson, India's non life insurance market is expected to have the highest average annual growth rate in the world at 8.7% in the 2017-2025 period. This market will be followed by Saudi Arabia (8.1%), Indonesia (7.4%), China (7%), Iran (6.2%) and the United Arab Emirates (5.6%).
In fact, emerging Asia is expected to post the highest growth rate (7.1%) during the aforementioned period.
The accelerated economic development in the region is expected to lead to improved insurance penetration. Emerging Asia's share of global premiums could rise to 21% by 2025. This rate is estimated at 13% in 2016.
The MENA region (Middle East and North Africa), sub-Saharan Africa and Eastern Europe, are, on their part, poised to report growth rates of 5.8%, 4.3% and 3.8% respectively.
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