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Global insurance premium may rise by 3.3% to $6.9 trillion in 2021 : Swiss Re

Said Jerome Haegeli, Group Chief Economist at Swiss Re Institute,”We expect the insurance industry to earn a record $ 7 trillion in premium by end of next year. The economic upswing expected in 2021 and 2022 is on track to materialise, and this is a key factor for insurance premium growth across the globe. The main market to watch is China, where both economic and premium growth continue at a strong pace. Consumer awareness is clearly an important growth driver and this has been driven by the pandemic. Whether it is private medical insurance or supply chain interruption for businesses, people have become much more aware of what insurance is, and how it can help them to emerge resilient from such a crisis

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