Rate hardening expected to speed up insurance sector recovery from pandemic recession
Swiss Re chief economist says the insurance industry is more resilient than expected, while the global economic outlook remains fragile.
Continued rate hardening will help the insurance sector to recover from the recession caused by the pandemic, according to Swiss Re group chief economist Jerome Jean Haegeli.
Heightened risk awareness is also set to drive up demand for insurance.
In a briefing with journalists on 11 November, Haegeli predicted that the global economic outlook will remain fragile and that interest rates will remain low.
How the pandemic will impact each country’s economy depends on its capacity to absorb
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