Swiss insurer Zurich Insurance is likely to expand its insurance operations in a bid to gain a strong foothold in emerging markets such as China and Indonesia.
The underwriter, under the guidance of its chief executive officer Martin Senn, had already sought for more licenses in order to expand in Chinese cities, as reported by the Bloomberg.
Martin Senn was quoted by the news agency as saying that mergers and acquisitions provide an additional channel for growth, and that it is exploring opportunities to become "a leading insurer" in Malaysia as well as in Indonesia, while taking a balanced approach to enhance its business in the countries.
Additionally, the underwriter is also preparing strategies to enter into emerging markets including Latin America, Middle East and Africa.
A study highlights that life insurance in emerging markets is expected to give over 40% of new business value by the end of this year.
The Zurich-based company has also revealed that it will not participate in bidding wars for Asian insurance assets.