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Country Regulations

While many SAAAME markets offer strong growth potential, they can be hard for newcomers to break
into and difficult for large multinationals with old legacy systems to navigate. Government regulations
and restrictions on foreign ownership are proving to be a formidable obstacle in obtaining country
specific 'on-shore' licences. This has resulted in a number of 'big players' withdrawing from the
SAAAME markets - creating a significant supply gap in these emerging markets for cross-border life-
wealth products.

The Millennial Market

Millennials now make up 40% of the workforce and will be the most important clients for the life
assurance and wealth management sectors over the next 25 years. As Boomers look to transfer their
wealth and millennials look to grow and protect their assets, USD 68 trillion in wealth will be at play,
ready to be invested with those who can capture their interest and meet their needs. It is also true
that millennials think globally, are highly mobile, technically savvy and open to new ways to invest,
insure and grow their money. There is no arguing that the millennial customer base will soon be the
most influential generation in the market. A unique untapped distribution network has evolved in the
market place - one that is designed for, and created by, these most important future market in the life
assurance and wealth management sectors.

Number of Millennials in Emerging Markets

China 400 million India 400 million

Philippines 35 million Nigeria 90 million

Indonesia 125 million Japan 25 million

Brazil 60 million Mexico 30 million

Russia 40 million Vietnam 38 million