ISSN: 1451-4117
E-ISSN: 1821-31977
Volume 7 number 23-24, pages: 41 - 54
Thanks to rise of globalization, insurance companies have the unprecedented opportunity to reach new emerging markets, which present new and rewarding opportunities for them with a broad field of actions. These opportunities are related to such factors as consolidation, convergence of insurance and financial service, new form of competition and continued pricing pressure. The globalization of the insurance markets was only made possible by the liberalization and deregulation since before that it has been a strongly protected industry, usually by governments. Therefore, efficient-insurance markets are essential for emerging markets to become integrated into the global economy, as well as to achieve a strong economic growth. The greatest risk currently facing the insurance industry is a potential climate change. These risks will have the greatest consequences to insurers since they will change the business environment and opportunities in the way that insurers must improve their operations and financial performance.
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