Recovering from last year's stagnation, global property-casualty business grew by 1.5 percent, according to a study by Swiss Re.
But that figure masked a sharp divergence in performance between the industrialized world, which saw a growth of .6 percent, and the 11 percent delivered by emerging markets.
"In the industrialized world, downward pressure on rates, particularly in catastrophe lines, was the salient feature and could not be offset by higher demand," the Zurich-based company said in a statement.
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