Over the past few months, Global Insurance Law Connect has worked together with Capital Economics to analyse global economic trends. As a result, GILC has launched a new report, which provides GILC clients with a broad view of the global economy. Insurance, as with all industries, is seeing changes to the market due to global economic pressures, and this report has been produced to give insight as well as to be used as a tool to shape insurers planning for the months ahead.
Jim Sherwood, Chairman of Global Insurance Law Connect commented, “Macroeconomics now, more than ever, impacts every aspect of the insurance value chain. Recent discussions with our members have highlighted how across the globe, demand for insurance varies by line of business. However, as economies transition to the ‘new normal’, we are likely to see growth in those classes of insurance that have fallen in the last two years.
“M&A activity within the insurance market has increased in many regions, as insurers seek to provide a full-scale offering or upgrade their technology to offer their consumers a more streamlined service. In addition, there is also a greater demand for increased transparency and competitiveness, coupled with tougher regulatory regimes. All of this is critical to our clients’ working lives.”
Click here to visit the Global Insurance Law Connect website. Download the full report here.