Centro de Documentacion de Fundación MAPFRE - 2022 Economic and industry outlook

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<title>2022 Economic and industry outlook</title>
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<dateIssued>2022</dateIssued>
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<abstract displayLabel="Summary">After accelerating in the first half of 2021, the global economy slowed down due to the rise in commodity and energy prices, supply chain problems, the concentration of demand on consumer goods to the detriment of services, and uncertainty surrounding the return of social-distancing measures to stop the spread of the new COVID-19 variant. While the central banks in emerging countries have started to tighten their monetary policies in response to surging inflation, the developed markets keep them stable to continue encouraging economic recovery, although a policy shift is looming. Thus, the global economy is heading for slower growth than in 2021 and should expand by an estimated 4.8% in 2022 and 3.6% in 2023, with the developed markets taking the lead in closing the output gap over the next few years. On the other hand, despite the reduced momentum and increased uncertainty in the worldwide economy, the greater aversion to risk among economic agents due to the pandemic will provide a significant stimulus to insurance demand. Therefore, the outlook on the insurance industry in 2022 remains positive. Also, the negative effects of the economic reopening on the loss ratio in some insurance lines will move towards correction, so insurance companies are likely to remain profitable despite the potential short-term  impact of the rebound in inflation</abstract>
<note type="statement of responsibility">MAPFRE Economics</note>
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<topic>Mercado de seguros</topic>
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<topic>Perspectivas económicas</topic>
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<title>Panorama económico y sectorial 2022</title>
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