Global non-life insurance to surpass $2.7 trillion by 2020

The global non-life insurance market is expected to surpass $2.71 trillion by 2020 as insurers unlock the potential of largely untapped markets, according to data from MarketLine.

“Motor insurance is comfortably the market’s largest segment and there are a still a number of sizeable, largely untapped markets,”MarketLine analyst Nicholas Wyatt

“In countries such as Indonesia and South Africa, car insurance is not a legal requirement and there is a chance that such jurisdictions could bring their legislation into line with that of other nations. This could serve as a catalyst for further market growth,” he added.

 

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