NU Online News Service, Aug. 28, 4:35 p.m. – Asia's life insurance markets have bounced back from the slump following the Asian financial crisis of 1997 and are expected to grow 8.9% per year over the next five years, according to a recent study by Swiss Reinsurance Company, Zurich.
The study, "Insurance Markets In Asia: Sanguine Outlook Despite Short-term Uncertainties," says strong economic development in Asia will ensure that the region remains one of the fastest-growing life insurance markets in the world.
Japan, however, will continue to lag behind, with annual growth of 2.3%, the study predicts.
The study cites the following as the factors that will spur the rapid growth of Asia's life insurance business:
