The global insurance industry attracted over $2bn (£1.2bn) in premium income in 2001, according to a new survey by Swiss Re.
The slow rise in premium growth of 1% in 2001 was the lowest growth rate recorded since the beginning of the 1980s.
The research highlightsed turbulence and a high claims burden as the factors shaping the global insurance market.
Of the $2bn (£1.2bn) income, $1bn (£800m) was attributed to life insurance and $969bn (£617m) to the non-life sector.
The rsearch concluded that despite price hikes, non-life insurers' profitability suffered in 2001.
Claims from the September 11 attack, reserve strengthening from the days of the soft-market and falling investment returns on the back of share price collapses all took their toll on insurers' financial results, it says.
