The Swiss Re Institute report “Global Insurance: Strengthening Global Resilience with New Vigor” contains a forecast for global GDP growth to 2.7% in 2024 and 2.8% in 2025. The analysts predict increase in life insurance premiums by 2.9% by the end of 2024 to $3 trillion. A similar growth of 2.7% is expected in 2025.
The UkrStrakhovanie online resource also knows from the report that a combination of premium growth and return on investment will lead to an increase in profitability in the life insurance sector in 2024, and operating results in eight leading markets will grow by 15% per year.
“The insurance industry has reached a new equilibrium. The global economy surprised with growth, which should lead to an increase in demand for insurance," commented Jerome Jean Haegeli, chief economist at Swiss Re.
Photo is from open sources.
