Developing countries’ markets depend extensively (technically and financially) on international services. Reasons for this include (among others) structural, financial and technical constraints, including the small size of markets, under-capitalization of insurance companies and insufficient experience and know-how. Usually, insurance industries there also have a shortage of skilled personnel. There is also a dependence on foreign reinsurance, which has implications for the contribution of the insurance industry to national development, in particular with respect to savings promotion and mobilization. 7 Given that these constraints can significantly affect the shortage of insurance services, more research needs to be done on the supply side.
