The Global insurance market in 2023
Although economic activity has been stronger this year, the global economy is showing signs of cracking with the risk of recession in key markets. What does this mean for the insurance industry?
According to the Global Economic & Insurance Market, Outlook 2023/24 recently released by the Swiss Re Institute, the volatile macroeconomic environment will continue to pose obstacles for the insurance industry, but also positive sides. The global insurance industry is facing pressures from high inflation, disaster claims, and financial market volatility this year, and we expect rate tightening to regain momentum.
