The Insurance Information Institute’s (Triple-I) Global Macro and Insurance Outlook was written by Dr. Michel Leonard, CBE, vice president and senior economist.
The Triple-I’s Global Macro and Insurance Outlook notes the following key points in the report:
- Global Macro Outlook: Economic impact likely to continue into Q3/Q4 2020 and 2021; Could reduce global GDP growth from 3.3% to 2.3% and delay recovery by up to 12 months; Fiscal and monetary policy and rate cuts, unlikely to be effective;
- Global Insurance Outlook: Decrease in global GDP growth to cause lower premium growth; Global infection and death rates to determine scale of increases in claims; Lower interest rates and equity returns will drive industry’s ROI and ROE down.
