In its report titled "Global insurance review 2013 and outlook 2014/15", Swiss Reinsurance Company Ltd said the economic growth worldwide will be strengthened in 2014 due to emerging markets, in the non-life primary market in particular.

Swiss Re's Chief Economist Kurt Karl said, "A return to economic growth in the mature markets is a good sign for insurance and we see a positive outlook for the next two years. Emerging markets, especially in Africa and Asia, will definitely provide some of the more spectacular growth figures in non-life business as cities grow and people look for financial protection for their property."

Premiums in the life market worldwide were projected by SwissRe to grow around 4% realistically in 2014 and the succeeding years. On the other hand, an expected decline will be seen in life reinsurance premiums in the advanced markets. Life reinsurance premiums in the merging markets, on the other hand, will be posting a 6% increase annually. SwissRe also said in its latest report that alternative capital was seen increasing in the past several years, which had put pressure on prices and profit margins in the catastrophe business in the US in particular. Moreover, alternative funds were said to maintain its focus on natural catastrophe markets.

The Swiss reinsurer also said momentum of economic growth globally will continue towards next year, with both the US economy and the Euro Zone experiencing similar growths. Japan's weak Yen, on the other hand, was able to boost growth and increase inflation rate, said SwissRe. However, the company is unsure whether Japan's economic performance will be able to sustain. In China, SwissRe said growth trend is nearing 7.5%, which was down from 10% it had record in the last period.

Despite the devastating effects of Typhoon Haiyan in the Philippines, SwissRe is sure that the country will not generate large losses for insurers in the non-life businesses as the Philippines has a very low insurance penetration rate at 0.5% as compared with 1.3% of an emerging market average.