Global non-life premiums to rise 10% above pre-pandemic levels this year - Swiss Re

  • 9/9/2021
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BERLIN, Sept 9 (Reuters) - Reinsurer Swiss Re said it expected non-life insurance premiums to rise 10% above pre-pandemic levels by the end of 2021 and increase further the following year, driven in part by a growing need for protection against the impact of climate change. The company"s research arm said it expected non-life insurance would hit $6.9 trillion worldwide this year, and pass the $7 trillion barrier in 2022 for the first time. Natural catastrophes like wildfires and floods combined with increased urbanisation were creating greater risks, it said. "There is a clear recognition that claims" frequency and severity is rising as demonstrated by recent natural catastrophes or cyber incidents," said Moses Ojeisekhoba, Swiss Re"s reinsurance CEO.

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