Insuring a healthy economy

Insurance is good for an economy. It is as simple as that. By being insured, that is by dedicating between 3 and 10 percent of their gross domestic product to financial care and protection of life, economic stakeholders in developed countries globally manage risk and prepare for problems arising in any situation – from earthquakes, floods and other natural catastrophes to manmade perils and plain old needs for health care or the accumulation of capitals for times of needs. In the estimate of Swiss Re Sigma, a research institution affiliated with large global reinsurer Swiss Re, global real premium income is forecast to rise by 4 percent in 2016 and 4.2 percent in 2017, with emerging markets as the main driver. According to Sigma, insurance in the Middle East and North Africa region (MENA) is expected to witness a strong improvement to 8–9 percent premium growth in real terms. The