Everyone is hoping that the outbreak of COVID-19 will be contained as swiftly as possible, with many countries advising precautionary measures, such as lockdown, for a minimum of 12 weeks to protect the vulnerable. The re/insurance industry can expect to feel the effects of this pandemic well beyond that. Intelligent Insurer reports.
“On the whole people are trading the business they would want to trade.” CEO of Lloyd’s John Neal.
· Regulations up for debate as pandemic disrupts normal service
· Economic conditions create rocky ride for M&A activity
· Value of tech and digital will become clearer during lockdown
· Industry resilience a key strength as virus generates system “stress points”
Optimism is rising on the back of government stimulus announcements but there is a long way to go yet, and as Lloyd’s chief executive John Neal said last week, COVID-19 means “our world and ways of working will change forever”.
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