Emerging markets have been a major driver of global insurance premium growth
over the last two decades. In 2016, emerging markets accounted for 20% of
global premiums, up from 5% two decades ago. Nevertheless, many individuals
and enterprises in emerging markets remain under- or uninsured, and therefore
unprotected against external shocks arising from illnesses, natural disasters and
accidents. These shocks can have lasting negative consequences for both economic
growth and human development.