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Swiss Re Sees Insurance Market Premium Growth To Continue

Swiss Re (SSREY.PK) expects insurance market premium growth to continue, driven by increased exposures, risk awareness and evolving client needs.

According to Swiss Re Institute, non-life insurance premiums are expected to rise 10% above the pre-COVID-19 level by the end of 2021 to $6.9 trillion and surpass $7 trillion in 2022 for the first time ever.

Heightened risk trends will increase the need for insurance protection, but also require a greater focus on evaluating and modelling, and ensuring pricing is adequate for the risks taken.

According to Swiss Re Institute, the world economy is set to lose up to 18% of gross domestic product from climate change by 2050 if no mitigating actions are taken.

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