- (PLX AI) - Swiss Re sees growing demand for insurance protection, positive outlook for premiums.
- • Swiss Re expects non-life insurance premiums 10% above pre-COVID-19 level by the end of 2021 and continued increase in 2022
- • Heightened risk trends will increase the need for insurance protection, but also require a greater focus on evaluating and modeling, and ensuring pricing is adequate for the risks taken
- • Claims' frequency and severity is rising as demonstrated by recent natural catastrophes or cyber incidents, CEO of Reinsurance said
- • Says non-life insurance premiums are expected to rise 10% above the pre-COVID-19 level by the end of 2021 to USD 6.9 trillion and surpass USD 7 trillion in 2022 for the first time ever
- • While climate change is a real threat, it also poses the largest growth opportunity to the industry as major investments will be necessary, company says
- • According to Swiss Re Institute, to achieve the 2030 agenda for global sustainable development, investments in the order of USD 6.9 trillion a year will be required
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