The insurance industry is forecasted to return to premium growth of 2.1% annually on average in real terms in 2023 and 2024 following total global premiums falling by an estimated 0.2% in real terms in 2022 due to inflation, which remains the key concern for insurers, according to Swiss Re Institute’s latest sigma report.
This growth is supported by a combination of easing inflation, market hardening in property and casualty lines, as well as stronger life insurance demand, the Swiss Re institute noted.
