HOW AFFECTED WAS WORLD INSURANCE MARKET BY GLOBAL CRISIS?

Abstract

Global economic and financial crisis triggered in 2008 had a significant impact with effects in economical life worldwide. Insurance industry wasn't spared but was less affected than other sectors of the world economy. The aim of the present paper is to underline the main crisis effects on global insurance market through a comparative study between different regions from the world, taking into consideration the main indicators which give us an insurance market dimension, such as: gross premium volume, insurance density and insurance penetration.

Keywords

• insurance market
• financial crisis
• gross premium written
• insurance density
• insurance penetration rate