Joseph Clabby, Regional President of Continental Europe for ACE Group, today highlighted Turkey, Poland and Russia as Europe's top three emerging insurance market opportunities.
The ACE Group registered in Switzerland is one of the world's leading global commercial property and casualty insurance organizations. ACE operates in 53 countries and territories and in the Lloyds
insurance market in London. Clients of the ACE Group consist of
multinational corporations and local businesses, individuals, and
insurers seeking reinsurance coverage.
In 2012, the group had $92.5 billion in assets, nearly $21.6 billion of gross written premiums and more than 17,000 employees.
Speaking to insurance industry executives at the Insurance Day Summit in London, he highlighted four 'megatrends' which would help drive future insurance market development in these countries:
-- Economic advantage -- as the centre of gravity of the global economy shifts east and south
-- Trade revolution -- as emerging market growth radically changes the shape of future trade flows
-- Investor attractiveness -- as investor confidence in emerging Europe continues to increase
-- Increasing wealth -- as greater individual wealth drives successful business growth
Read more: ACE advises European insurance industry not to overlook 'emerging insurance markets close to home' - WSJ.com
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