Zurich Financial Says Microinsurance Sales to Poor to Rise 50%

Bloomberg.com, 5 October 2009

Zurich Financial Services AG, Switzerland’s largest insurer, said it expects to increase sales in developing nations of policies covering death, illness and natural disasters by 50 percent this year as it develops more sales channels.

Coverage provided to low-income households in China, Mexico, Bolivia, Venezuela, South Africa, Indonesia and Jordan, will be boosted by local distribution agreements, Brandon Mathews, head of the Zurich-based insurer’s microsinsurance unit, said in an interview in Zurich on Sept. 30. “Policies this year currently cover around 1.5 million microinsurance customers in developing nations,” he said.

Four billion poor people around the world living on less than $2 per day represent an annual market for insurance services worth as much as $90 billion, according to research company Datamonitor Plc. Zurich is competing for a slice of this market with insurers including Allianz SE, Munich Re and Swiss Reinsurance Co.

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2009-10-06

Thanks

2009-10-06 by VeroniqueFaber veronique.ada@microfinance.lu

Thanks

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