AFP, Frankfurt Am Main :
Growth in Asian emerging economies will boost global insurance markets into next year, balancing an expected slowdown in China, German reinsurance giant Munich Re said Thursday.
Worldwide insurance premiums will grow by around 4.5 percent in nominal terms — unadjusted for inflation-this year and next, up from 3.0 percent in 2016, the group predicts in a study.
In real, inflation-adjusted terms, that would see insurers’ revenue grow 2.9 percent this year and 3.1 percent in 2018, roughly keeping pace with global economic growth.
Munich Re expects premiums to reach some 4.56 trillion euros ($4.9 trillion) in absolute terms in 2018, up from 4.18 trillion last year.
“The economies of many emerging markets, such as Brazil, but even Russia, are experiencing a significant recovery,” the group’s chief economist Michael Menhart said in a statement.
“This is leading to increased growth in property-casualty insurance.”
Growth in Asian emerging economies will boost global insurance markets into next year, balancing an expected slowdown in China, German reinsurance giant Munich Re said Thursday.
Worldwide insurance premiums will grow by around 4.5 percent in nominal terms — unadjusted for inflation-this year and next, up from 3.0 percent in 2016, the group predicts in a study.
In real, inflation-adjusted terms, that would see insurers’ revenue grow 2.9 percent this year and 3.1 percent in 2018, roughly keeping pace with global economic growth.
Munich Re expects premiums to reach some 4.56 trillion euros ($4.9 trillion) in absolute terms in 2018, up from 4.18 trillion last year.
“The economies of many emerging markets, such as Brazil, but even Russia, are experiencing a significant recovery,” the group’s chief economist Michael Menhart said in a statement.
“This is leading to increased growth in property-casualty insurance.”
