The global insurance and reinsurance market faces a range of challenges, but at the same time the opportunities for the sector and for the provision of efficient capital to absorb societal risks, is also expanding, with PwC estimating that the global protection gap may expand to US $1.86 trillion by 2025.
That’s significant growth of around 33% in just a few years, as the protection gap, so the gap between economic and insured losses, was estimated to have reached US $1.4 trillion in 2020.
