Swiss Re: reasons to be cheerful despite a challenging macroenvironment

01-12-2020

Swiss Re: reasons to be cheerful despite a challenging macroenvironment

Jérôme Jean Haegeli, group chief economist at Swiss Re, highlights opportunities for key developments in areas such as digital transformation and supply chains and explains why a challenging macroeconomic environment is not necessarily bad for financial markets, especially with a COVID-19 vaccine on the horizon.

The global economic environment is chilly, with a double-dip recession likely in Europe, according to Jérôme Jean Haegeli, group chief economist for Swiss Re. However, the prospect of a COVID-19 vaccine promises better times ahead in 2021, for the economy and for insurance markets.

Speaking in a broadcast on Intelligent Insurer's Reinsurance Lounge, Haegeli predicts rate-hardening will continue and the insurance market will continue to benefit from the digital transformation that was accelerated by COVID-19.

He said that to support sustainable economic recovery, a policy reset is needed, with public policy focusing on areas such as infrastructure, technology and climate.


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