Despite the global economy’s growth slowing down in 2020 and 2021, insurance premiums are expected to increase worldwide, with emerging Asian markets serving as engines of growth, according to Swiss Re.
In Swiss Re Institute’s latest sigma report, titled ‘Sustaining resilience amid slowing growth: global economic and insurance market outlook 2020/21’, the reinsurance giant forecast US and European economies to grow 1.6% and 0.9%, respectively, next year.
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