This paper gives an overview of the global insurance market and emerging trends; the importance of the insurance sector for economic development; the significance and elements of an effective regulatory framework; development issues arising from insurance services liberalization; the importance of insurance as a public good; and the implications of GATS negotiations for the insurance sector and areas of potential export interest for developing countries. Under appropriately designed financial-policy, regulatory and institutional frameworks, insurance services and trade in them will significantly affect an economy’s productivity (including through their impact on the volume of savings). This makes the insurance sector.
