Swiss Re's predicts growth in the insurance and reinsurance industry will continue to accelerate next year and expects moderate expansion in the European and US economies.
The reinsurer's outlook for the UK life and health insurance industry is positive having recovered from the financial crisis but shows signs of slower growth than in 2010.
It further noted there were many economic risks, such as the debt crisis currently affecting some eurozone countries, but suggested they were unlikely to derail the recovery with only a 10% probability of doing so.
-----------------------------------------------------------------------------------------------------------------------------------------------------
Very positive outlook here from Swiss Re, such a swing as well. They expect 4.4% growth after 20.4% and 28.9% contraction in 2008 and 2009. Along way to go and a few years then before it reaches the market reaches the heights pre credit crunch, but when the economy as a whole is only expected to grow 2.2%, the insurance market doubling that cannot be sniffed at all. Let’s just hope the forecast turns out to be accurate, even 1% off would still be good and welcome news.
No comments:
Post a Comment