Non-life insurance premiums grew in 2011 despite an overall decline, says Swiss Re study
The latest sigma study by Swiss Re has revealed that non-life premiums expanded 1.9 percent during 2011, despite overall premiums declining 0.8 percent.
Swiss Re attributes the growth in non-life premiums to solid economic growth in emerging markets and selective rate increases in some advanced markets.
“Non-life premium growth in the advanced markets has been supported by gradual rate increases in personal lines of business and in regions affected by large natural catastrophes,” said Daniel Staib, one of the authors of the study.
“Despite the adverse environment in 2011, non-life insurers’ capital position remained sound, putting the industry in a strong position to grow steadily in the future.”