Centro de Documentacion de Fundación MAPFRE - World insurance : the recovery gains pace

MAP20210022692

World insurance : the recovery gains pace. — Zurich : Swiss Re Institute, 2021

(Sigma ; 3, 2021)

Sumario: The world economy is recovering strongly from the COVID-19 crisis. The swift deployment of vaccines and large-scale fiscal stimulus, including unprecedented direct transfers to households and businesses, are fuelling a stronger economic bounceback in 2021 than we had projected last year. We forecast historically high global real gross domestic product (GDP) growth of 5.8% in 2021 after a 3.7% contraction in 2020. This reflects robust growth in the US (6.5%) and China (8.3%), driven by services consumption.1 However, uncertainty around the emergence of more transmissible COVID-19 variants and the ability of vaccines to keep the pandemic under control suggests that the recovery may be more uneven and protracted than our base- ase forecasts. Insurance demand will benefit from the growth momentum, but a firmer inflation environment is a concern. Policymaking will soon turn to fiscal consolidation, but we believe optimal policy must take a longterm view in areas such as digitisation, climate change and income inequality

1. Mercado de seguros . 2. Estadísticas . 3. COVID-19 . 4. Crisis económica . I. Swiss Re Institute . II. Sigma ; 3 . III. Título.