Nonlife insurance premium volume expected to grow 2.8% in 2015: Swiss Re

Swiss Re Ltd. expects nonlife insurance premium volume to grow by 2.8% in 2015, majorly driven by the emerging markets, where a growth of 8% is expected, Nigerian daily Business Day reported.

Swiss Re Chief Economist Kurt Karl said stronger economic activity will improve premium growth, but profitability will "still be challenging because of the low investment yields."

Meanwhile, lower reinsurance purchase in China and softening rates for property catastrophe reinsurance mean that reinsurance premium growth could be lower than in the nonlife sector, the reinsurer said.

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