A soaring demand for liability insurance can be expected over the next five years in the emerging markets of Asia, Latin America and Eastern Europe, according to a new study.
The analysis by Zurich-based Swiss Re also finds that the emerging insurance markets are expected to grow 5 percent in non-life business and by 8 percent in the life sector in the period 2005-2010.
Swiss Re said that insurance sales in the growing emerging markets have seen liability insurance outperform non-life business overall. While overall non-life insurance premiums grew by 5 percent per year between 1999 and 2003, liability premiums increased at an annual average of 13 percent, the firm said.
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