Non-life insurance, also known as General Insurance, is the "junior partner" globally, when it comes to insurance premiums written. In many parts of the world, incomes are generally too low and ownership of items that might require insurance coverage, particularly motor vehicles, is too limited, for property & casualty insurance to be significant. Additionally the law has not caught up with recent prosperity in a number of markets, to mandate minimum coverages in certain risk areas, such as liability coverage for motor vehicle collisions.

However, the desire and need to provide for family members in the event of death is almost universal. Life insurance is therefore a priority for many and a business that continues to grow, reaching $2.4 trillion in premiums written in 2007. Whilst the life insurance business in the developed markets of North America and Europe is mature and will face difficulties in the current financial climate, we expect that life insurance will continue to show strong growth in less mature and developing markets in the period ahead.