Global insurance premiums increased in 2016 and overall growth outlook remains positive, latest Swiss Re Institute sigma study says
05 July 2017
• Global insurance premiums increased by 3.1% in 2016; down from 4.3% growth in 2015.
• Life premium growth slowed to 2.5% and non-life to 3.7% in 2016, due to weaker performance in advanced markets
• Profitability in the life and non-life sectors weakened amid low interest rates and robust competition
• Life and non-life premiums in China grew very strongly, but many other emerging markets were in slowdown mode
• Emerging markets to continue to drive global premium growth; stronger activity in advanced economies to boost non-life sector
• Special chapter says digital distribution in insurance is growing, but agents and brokers will continue to play an important role