A report by industry giant Swiss Re has revealed that the world economy is less resilient now compared to 2007, at the onset of the global financial crisis. However, Asia-Pacific has shown itself as a bright spot, with the region’s insurance resilience improving for both advanced and emerging economies.
According to Swiss Re’s latest sigma report, there is a US$1.2 trillion composite protection gap globally for three main areas of risk – natural catastrophes, mortality, and healthcare spending. This was identified through new macroeconomic resilience indices jointly developed by the Swiss Re Institute (SRI) and the London School of Economics (LSE).
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