Global Insurance Emerging Markets in the Next 10 Years

Time:2019-03-26 11:37:25 Popular: Comment:0


Global Insurance Emerging Markets in the Next 10 Years


On March 6, 2019, Swiss Reinsurance released its latest research report, sigma, on its official website, showing that emerging markets will remain the main engine driving global economic and insurance development in the next 10 years. This reflects the continuing shift of economic power from west to east.


Regarding macroeconomic development trends, the report argues that with the maturity of emerging market economies and increasingly influenced by more external and cyclical factors, the growth rate of emerging markets has slowed down in recent years. But the findings are that emerging economies will continue to contribute 60% of global growth over the next 10 years. "We expect emerging markets to develop more qualitatively, not faster." The report also shows that the seven largest emerging markets will contribute 42% to global economic growth, with China accounting for 27%.


Economic growth will also drive the development of insurance industry. The report predicts that the share of emerging markets in the global insurance market will grow by about 50% over the next 10 years. Forecasts show that Asia will dominate the growth of insurance in emerging markets, exceeding the world average by three times in the next two years. China will become the largest insurance market in the next 15 years. In addition, emerging insurance markets are expected to catch up with developed markets in the next 10 years, and premium growth will be four times higher.

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