Asia’s 2008 results signal start of insurance sales slowdown

India’s four public insurers recorded the first month of negative growth in years while growth slowed for private insurers

Strong growth rates during the first 10 months of 2008 helped Asia’s insurance companies withstand the challenges of the economic slowdown during the latter part of the year. Insurance companies in large parts of Asia including mainland China, Hong Kong, Singapore and to a lesser extent in India, recorded strong growth and business volumes on average for the year.