‰nsurance ‡reiu growt‚ stead€ NonŽlie“ higher premium growth‰ driven by advanced marets Non-life insurance ‡reiu de elo‡ent lobal nonŽlie premium growth lobal nonŽlie insurance sector improved urther in 201‰ with premiums up 3…6ˆ in improved urther in 201‰ mainly real terms to ‹„ 2 020 billion‰ higher than the 2…’ˆŽgain registered in 201’ and driven by advanced marets… also better than preŽcrisis average growth †see ¥igure 10‡… ‘owever‰ in nominal ‹„ terms‰ premiums ell 3…ˆ due to currency depreciations against the dollar… The advanced marets were the main drivers‰ with higher growth registered in all regions except ¢ceania †lat at £0…1ˆ‡… dvanced sia †£’…1ˆ‡ registered the highest growth among the advanced regions and premiums in North merica were also solid †£3…2ˆ‡… Œestern Europe premiums showed moderate growth †£1…ˆ‡ ater several years o stagnation… Figure 10 World NonŽlie premiums growth in the advanced and emerging marets in Advanced markets 201‰ preŽ and postŽinancial crisis North America averages Western Europe Advanced Asia Oceania Emerging markets Emerging markets excl. China Emerging Asia Emerging Asia excl. China Latin America and the Caribbean Central and Eastern Europe Middle East and Central Asia Africa †‡ ‚‡ ‡ ‚‡ †‡ ‡ ‡ …‡ „roth rate … recrisis average groth ‚ ƒ ostcrisis average groth € „ource“ „wiss ˜e Economic ˜esearch ™ —onsulting… Emerging maret premiums growth n the emerging marets‰ premium growth slowed to a stillŽrobust ƒ…ˆ in 201 rom slowed but remained solid… …6ˆ in 201’‰ but was below the preŽcrisis average o 10ˆ… rowth trends among regions were mixed… —hina was the main driver‰ with premiums there increasing by 1ƒˆ… n the ‚iddle East and —entral sia‰ growth remained solid at ¡ˆ‰ and liewise in emerging sia excluding —hina at …¡ˆ… ‘owever‰ in most regions the level o premium growth was lower than in 201’… rowth was slow in rica †£1…3ˆ‡ and ”atin merica †£2…3ˆ‡… This was still higher than in —EE where premiums were down ’…¡ˆ‰ with sharp contractions in ˜ussia and the ‹raine osetting more positive results in other countries… 12 Swiss Re sigma No 3/2016
World Insurance in 2015 Page 17 Page 19