Insurance Edge

Lloyd’s emerging market expansion given thumbs up

The Lloyd’s insurance market’s planned expansion into emerging markets is a net positive, even though writing insurance outside of established markets carries additional risks, according to Fitch Ratings.

Fitch said it expects the economic development of emerging market economies to boost demand for insurance and reinsurance. Lloyd’s already writes 25% of its business outside of Europe and North America, with the growth of insurance premiums outpacing that of developed markets.