With the pace of economic recovery slow in mature insurance markets, property and casualty carriers have set their sights beyond the United States and Western Europe–eyeing opportunities in developing regions of the world, analysts report.
"Developing economies such as China and India are expected to attract insurance capacity," New York-based Advisen said in a recent report titled, "The Insurance Market in 2011: The Lingering Effects of the Recession Fuel Competition."
Advisen said a beneficial consequence of p&c insurers' activities to spread capital over a wider global base could be to modulate swings in the market cycle going forward. Experts caution, however, that new markets come with a new set of risks, and that the doors to these new areas of opportunity are not simply swinging wide open for insurers.
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