In 2007 the global insurance industry premium income growth of 3.3 percent, emerging markets in the greater contribution to the life insurance business
"The loan-to-grave crisis and turmoil in financial markets and not on sales last year, the global insurance industry having a significant impact." According to Swiss Re sigma as a research report, the global insurance premium income in 2007, actual growth of 3.3 percent, to 4.061 trillion U.S. dollars.
This, sigma study analysis, the global premium growth was mainly from industrialized markets and emerging markets in promoting the life insurance business, followed by the emerging markets of non-life insurance business driven. Overall, the 2007 actual premium growth, faster growth rate of life insurance in the non-life insurance.
"Although the macroeconomic environment in 2007 has a slight slowdown in economic growth and inflation exacerbated the situation, life insurance continues to increase, the global life insurance premiums increased 5.4 percent to 2.393 trillion U.S. dollars." Participation in formulating the report of Daniel Staib That the retirement products and investment products to stimulate sales of the industrialized economies in growth. As for the emerging market in life insurance sales benefited from good economic performance.
Data show that Asia's premium income amounted to 841 billion U.S. dollars, the actual growth of 4.5%. Among them, the Chinese mainland insurance premium income rose 19 percent to 92 billion U.S. dollars, Hong Kong, China in the premium growth of 22.9 percent, reaching 24 billion U.S. dollars; China Taiwan in premium income reached 60 billion U.S. dollars, up 16.2 percent.
Staib further pointed out that the ageing of the population in some countries, the wholesale business and contributory pension and annuity products increasingly Zouqiao, premium growth and become a driving force for social welfare in these countries the level of protection has resulted in the reduction of traditional life insurance model Pension model to promote change.
Compared with the life insurance business in 2007, the slow growth of the global non-life insurance, but there is still room for profit. sigma study data show that last year, the global non-life insurance premium growth rate in real terms fell to 0.7 percent, for a total of 1.668 trillion U.S. dollars. Among them, the industrialized markets and emerging markets between non-life insurance premium growth continued the trend of polarization, the insurance premium income in the industrialized market in a decline in emerging markets up slightly.
"Although premium rates in some countries continuing downward pressure, but good overall technical performance, profitability remained stable." However, Staib also reminded, is expected in 2008 the global insurance industry premium growth will slow down, "because Capital markets and stock market turbulence curbed consumer demand. "
Staib said, "With the economic environment and capital market stabilized, the medium and long term, the expected growth in life insurance and profitability will be resumed in a strong performance." For non-life insurance business, he added, "is expected to industrialization Economies in the non-life insurance premiums will decrease, but the emerging economies in the non-life insurance premiums will continue to grow, although the growth rate will be slightly slower than recent. "
sigma study report is expected at the same time, the loan-to-crisis on the global insurance industry's limited impact, the crisis is caused by the decline of investment performance. As for the countries concerned about inflation, sigma study believe that this will improve the long tail liability insurance and other types of business claims costs and lower profitability.
Swiss Re's sigma study was investigated in 147 countries compiled from the insurance market, a comprehensive analysis of the 2007 World development of the insurance industry.
"The loan-to-grave crisis and turmoil in financial markets and not on sales last year, the global insurance industry having a significant impact." According to Swiss Re sigma as a research report, the global insurance premium income in 2007, actual growth of 3.3 percent, to 4.061 trillion U.S. dollars.
This, sigma study analysis, the global premium growth was mainly from industrialized markets and emerging markets in promoting the life insurance business, followed by the emerging markets of non-life insurance business driven. Overall, the 2007 actual premium growth, faster growth rate of life insurance in the non-life insurance.
"Although the macroeconomic environment in 2007 has a slight slowdown in economic growth and inflation exacerbated the situation, life insurance continues to increase, the global life insurance premiums increased 5.4 percent to 2.393 trillion U.S. dollars." Participation in formulating the report of Daniel Staib That the retirement products and investment products to stimulate sales of the industrialized economies in growth. As for the emerging market in life insurance sales benefited from good economic performance.
Data show that Asia's premium income amounted to 841 billion U.S. dollars, the actual growth of 4.5%. Among them, the Chinese mainland insurance premium income rose 19 percent to 92 billion U.S. dollars, Hong Kong, China in the premium growth of 22.9 percent, reaching 24 billion U.S. dollars; China Taiwan in premium income reached 60 billion U.S. dollars, up 16.2 percent.
Staib further pointed out that the ageing of the population in some countries, the wholesale business and contributory pension and annuity products increasingly Zouqiao, premium growth and become a driving force for social welfare in these countries the level of protection has resulted in the reduction of traditional life insurance model Pension model to promote change.
Compared with the life insurance business in 2007, the slow growth of the global non-life insurance, but there is still room for profit. sigma study data show that last year, the global non-life insurance premium growth rate in real terms fell to 0.7 percent, for a total of 1.668 trillion U.S. dollars. Among them, the industrialized markets and emerging markets between non-life insurance premium growth continued the trend of polarization, the insurance premium income in the industrialized market in a decline in emerging markets up slightly.
"Although premium rates in some countries continuing downward pressure, but good overall technical performance, profitability remained stable." However, Staib also reminded, is expected in 2008 the global insurance industry premium growth will slow down, "because Capital markets and stock market turbulence curbed consumer demand. "
Staib said, "With the economic environment and capital market stabilized, the medium and long term, the expected growth in life insurance and profitability will be resumed in a strong performance." For non-life insurance business, he added, "is expected to industrialization Economies in the non-life insurance premiums will decrease, but the emerging economies in the non-life insurance premiums will continue to grow, although the growth rate will be slightly slower than recent. "
sigma study report is expected at the same time, the loan-to-crisis on the global insurance industry's limited impact, the crisis is caused by the decline of investment performance. As for the countries concerned about inflation, sigma study believe that this will improve the long tail liability insurance and other types of business claims costs and lower profitability.
Swiss Re's sigma study was investigated in 147 countries compiled from the insurance market, a comprehensive analysis of the 2007 World development of the insurance industry.
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