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Goldman Sachs: tough market conditions for insurers to continue into year ahead

Inflationary pressures, climate threats and geopolitical uncertainty are creating a tough environment for the global insurance and reinsurance industry that is likely to continue into 2023. This conclusion is contained in a new report by Goldman Sachs.
Goldman Sachs: tough market conditions for insurers to continue into year ahead

According to the report authors, “the insurance industry is currently in the most difficult part of the market cycle, which will continue into the next year.”

As the Internet resource UkrStrakhovanie found out from the materials of the report, in addition to those listed, there is still a high probability of cyber threats. According to Goldman Sachs, the pandemic led to a “substantial rise” in ransomware, making the sector a “hot topic.”

It was reported earlier that the situation in the global cyber insurance market remains difficult, but there are factors that contribute to the normalization of rates and the number of cyber incidents. Oddly enough, the war in Ukraine is called a “tailwind” for the cyber insurance industry referring to the transfer of attacks from the digital world to the battlefield.

Source: https://www.ukrstrahovanie.com.ua/news/zhestkie-rynochnye-usloviya-dlya-strahovshhikov-sohranyatsya-v-budushhem-godu-goldman-sachs

Photos are from open sources.

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