Global insurance industry continuing to grow, says study

The insurance industry continued to expand and regain financial strength during 2004, according to Swiss Re's latest sigma study.

In the global economy inflation-adjusted premiums rose by 2.3%, to $3,244bn, the study found.

It also noted a trend in positive results as a key highlight of 2004.

Swiss Re head of economic research & consulting Thomas Hess said: “Non-life insurers reaped the benefits of focusing on underwriting discipline.

“With its financial strength improving further in 2004, the industry is in good shape to leverage growth opportunities in 2005.”