Category: Insurance News / Short Term Insurance / October 2005

Industry continues to grow

The insurance industry continues to expand and regain financial strength according to Swiss Re’s latest sigma study, Post Magazine reported. Globally, inflation-adjusted premiums rose by 2,3%, to $3 244 billion. Key highlights of 2004 included a return to growth for the life business and the positive underwriting results achieved by general insurers, the report added. 

Looking forward, 2005 was likely to see growth gain momentum in life but decelerate in general insurance, according to Swiss Re.  Thomas Hess, head of economic research and consulting at Swiss Re, said: “Life premiums returned to growth, while non-life insurers reaped the benefits of focusing on underwriting discipline. With its final financial strength improving further in 2004, the industry is in good shape to leverage good opportunities in 2005.”

Source:  Santam e-focus October 2005

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