"Insurance remains a growing industry — and reaching the $7 trillion mark for global premiums shows is a major milestone," Jerome Jean Haegeli, group chief economist, Swiss Re, said in a report. "However, these are not easy times and the insurers will need to keep a close eye on inflation and economic growth." (Credit: metamorworks/Adobe Stock)
Hardening rates in property & casualty lines, strong employment and income growth and more awareness around mortality and health risks will converge to drive global insurance premiums past $7 trillion this year, setting a new record, according to Swiss Re.
"Insurance remains a growing industry — and reaching the $7 trillion mark for global premiums shows is a major milestone," Jerome Jean Haegeli, group chief economist, Swiss Re, said in a report. "However, these are not easy times and the insurers will need to keep a close eye on inflation and economic growth."
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Steve Hallo
Steve Hallo is managing editor of PropertyCasualty360.com. He can be reached at [email protected]
