With the insurance markets in Europe and North America already mature, insurers are looking for new regions and markets in which to expand.
Executive Summary
Coface has compiled a list of 10 emerging economies with strong growth potential. Here, Julien Marcilly, head of Country Risk, presents the list and explains how Coface arrived at its conclusion.Only a decade ago, it was the BRICS that were hot—Brazil, Russia, India, China and South Africa. Their double-digit growth and burgeoning middle classes offered many opportunities for insurers.
But lately, the BRICS have started to cool. Growth rates are leveling off, production capacity is strained, and credit is tightening. Moreover, competition among the BRICS’ entrenched insurers is fierce.
