Insurance industry losses from natural catastrophes and man-made disasters across the globe amounted to US$83 billion in 2020, making it the fifth-costliest year for the industry since 1970, according to the Swiss Re Institute in its preliminary sigma estimates. Natural …
The COVID-19 pandemic is expected to reduce global macroeconomic resilience by about 20% in 2020 from 2019 levels as stimulus packages deplete countries’ fiscal and monetary buffers around the world. At the same time, the combined global protection gap for …
Global insured property losses from disasters were US$31 billion in the first half of 2020, up from US$23 billion during the same period last year, according to Swiss Re Institute’s sigma estimates. Natural catastrophes accounted for US$28 billion of H1’s …
Though the COVID-19 pandemic is expected to lead to the deepest recession since the 1930s, global insurance premium volume will rebound to pre-crisis levels by the end of 2021, forecasts Swiss Re in its latest sigma report. Moreover, the pandemic …
Investment in infrastructure development is set to be one of the main drivers of growth in emerging markets after the COVID-19 crisis subsides, according to Swiss Re’s latest sigma report. Emerging markets will invest US$2.2 trillion in infrastructure annually over …
Global warming will lead to growing intensity and frequency of severe weather events, rising losses, as well as greater uncertainty in the assessment of these events by the insurance industry, which could make some weather risks uninsurable, according to a …
Digital transformation empowers consumers to be more informed and independent, and equips insurers with the tools to develop new tailored products and services and refine existing ones, said the latest sigma report published by Swiss Re. This is leading to …
Global insured losses in 2019 dropped to an estimated US$56 billion, from US$93 billion in 2018 and below the annual average (US$75 billion) of the previous 10 years, according to preliminary sigma estimates from Swiss Re Institute. During the year, …
Global insurance premiums will grow 3 percent on average over the next two years even with an emerging global economic slowdown, Swiss Re said in its latest sigma report. Rising lost costs will fuel the moderate but steady increase, the …
Carriers’ expansion in Asia helped push global insurance premiums past the $5 trillion mark for the first time in 2018, Swiss Re said in its latest sigma report. That growth came generally from property/casualty insurance expansion in China and other …
