New Swiss Re sigma study looks at 21 frontier markets that will provide the next wave of insurance growth
03 May 2016
• Sigma report identifies 21 markets in Sub Saharan Africa, Latin America, the Commonwealth of Independent States and Asia with the right mix of conditions for insurance growth
• Common features include GDP growth rates of 5-10% and low insurance penetration rates of less than 1.5%
• There is no "one-size-fits-all" approach; insurers need to navigate differing regulatory regimes, cultural characteristics and economic situations
• Frontier markets require a long-term commitment; there is a significant first-mover advantage for insurers who understand the markets and can position themselves for growth