According to SwissRe Institute’s sigma study published in September 2021, global premiums in P/C insurance are expected to grow by an average 5 to 6% per year over the 2020 to 2040 period, reaching USD 4.3 trillion by 2040, up from 450 billion in 2020. The expected growth is driven by effects of economic development and climate change, and includes a shift from lower-risk, high-volume motor insurance to catastrophe-exposed property

Emerging markets will remain the growth engine for the global economy and the insurance industry over the next decade, according to the latest sigma report from Swiss Re Institute, published in March 2019. The study explores how the seven largest emerging markets will contribute more than 40% of global growth in the next decade, with China accounting for over a quarter of the global output. (The seven largest emerging