Global Insurance Premiums to Reach $4.8 Trillion by 2010
Global insurance premiums are projected to reach $4.8 trillion by 2010 banking upon the economic growth in emerging economies. A key focus for most insurance majors around the world are China and India, the two fastest growing economies, along with other emerging economies in Asia, Latin America, and Eastern Europe. San Jose, CA March 25, 2008 -- The global Insurance Industry has registered a healthy growth over the last two years and this trend is further expected to continue. The global premium income for life insurance reached an estimated $2.4 trillion in 2007. The US accounted for a major share of over 29.5% of the total premium income reported worldwide in 2007. Risk management is emerging as the core enterprise-wide strategy of the insurance industry, calling for efficient capital allocation and risk integration. With emerging economies charting out economically liberal regimes, insurance companies are traversing the regional frontiers to cash in on the opportunity and balance their regional risk portfolios.
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