Best's Review: Insurers Chase New Business in Developing Global Markets.OLDWICK, N.J. -- Insurers are finding new markets in countries once considered off-limits, according to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. the August issue of Best's Review. Because of new trade agreements, stronger regulatory standards and better market transparency, insurers are looking with interest at Russia, Africa, Turkey and other countries in the Middle East. Russia is particularly intriguing because it has a highly educated population and stable institutions, but is underserved with regard to insurance. Turkey's potential market of 70 million people and its current quest to join the European Union European Union (EU), name given since the ratification (Nov., 1993) of the Treaty of European Union, or Maastricht Treaty, to the European Community make it attractive. Best's Review explores the viability of potential markets based on these characteristics and others such as a stable political and economic system and an established distribution network. One of the most significant factors attracting insurers to certain countries is their low insurance penetration. The August issue of Best's Review includes a detachable de·tach tr.v. de·tached, de·tach·ing, de·tach·es 1. To separate or unfasten; disconnect: detach a check from the checkbook; detach burs from one's coat. 2. map showing insurance penetration by nation, as determined by A.M. Best Co. The map also places countries in risk tiers based on A.M. Best's risk analyses. Other highlights of the August issue include: --Best's Review's exclusive list of the top property/casualty writers in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. by lines of business. --A report on how the forthcoming European Union Reinsurance The contract made between an insurance company and a third party to protect the insurance company from losses. The contract provides for the third party to pay for the loss sustained by the insurance company when the company makes a payment on the original contract. Directive will influence September's renewal talks in Monte Carlo Monte Carlo (môNtā` kärlō`), town (1982 pop. 13,150), principality of Monaco, on the Mediterranean Sea and the French Riviera. . --The second article in a series on coping with catastrophe: The importance and difficulties of enforcing stronger building codes. --A look at plans and products life insurers can offer retirees rolling over money from qualified plans. Best's Review is published by A.M. Best Co., for insurance professionals, including home office executives, agents, brokers and others who are affiliated with the industry, including bankers, lawyers and educators. To read these articles and more, subscribe to Verb 1. subscribe to - receive or obtain regularly; "We take the Times every day" subscribe, take buy, purchase - obtain by purchase; acquire by means of a financial transaction; "The family purchased a new car"; "The conglomerate acquired a new company"; Best's Review by visiting our Web site at www.bestreview.com/subscribe, calling the A.M. Best customer service department at (908) 439-2200, ext. 5742, or e-mailing your request to customer_service@ambest.com. A.M. Best Co., established in 1899, is the world's oldest and most authoritative insurance rating and information source. For more information, visit A.M. Best's Web site at www.ambest.com. |
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