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Swiss Re Expects Increasing Exposure, Risk To Boost Demand For Insurance

Swiss Re Ltd. (SSREY.PK), a reinsurance company, said on Monday that it expects a rise in demand for insurance products and services, supported by increased risk awareness and exposures for insurance protection across all businesses and regions.

Swiss Re Institute expects a $33 billion rise in commercial premium volumes from 2022 to 2026 as a result of supply chain reshoring.

The investments in green energy are expected to generate further energy-sector related premiums of $237 billion by 2035, the institute said in a statement.

The natural catastrophe re/insurance market is forecast to grow to about $48 billion over the next four years from $35 billion, according to the Swiss Re Institute.

Swiss Re's CEO Reinsurance, Moses Ojeisekhoba, said: "On top of impacts from Covid-19 and increasing losses from natural catastrophes, the re/insurance industry is now confronted with issues like inflation, risk of recession and geopolitical tensions. As we see cost drivers accelerating in this dynamic risk environment, insurance premiums must be carefully calibrated to keep pace."

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