sigma 3/2016: World insurance in 2015: steady growth amid regional disparities
In spite of a challenging environment in 2015 with moderate global economic growth of 2.5%, direct premiums written grew 3.8% in real terms, up from 3.5% growth in 2014. However, in nominal US dollar (USD) terms, global premiums were down by 4.2%, due to currency depreciation against the USD, particularly in the advanced markets. There was a slight slowdown in the life sector in 2015, with global premium growth dipping to 4.0% from 4.3%, due to weaker performance in the advanced markets. On the non-life side, strong growth in the advanced markets of Asia, and improvement in North America and Western Europe, contributed to a 3.6% increase in global premiums, up from 2.4% growth in 2014.The sigma includes a special chapter on the slowdown in global trade in recent years, and its possible impact on the insurance sector.