Magazine date:
Nov 2009 By duplicating micro insurance distribution channels in South Africa, Jordan, Indonesia, China, Mexico, Bolivia and in Venezuela, Zurich Financial is expecting a 50% growth of its revenues in this activity for the upcoming year. So far, the company has 1.5 million customers in its micro insurance portfolio. From 2007 to 2008, clients have increased by 100% and grown by 50% ever since. The market, made up of 4 billion low-income individuals, is estimated at 90 billion USD. An intense competition has been established between Allianz, Swiss Re, Munich Re and Zurich Financial to catch this market.