The pandemic swept up the dust in 2020. The world economy has struggled with the challenges posed by the pandemic. The insurance industry also passed this difficult test with a ‘successful’ report card, with the right moves and devoted work.
‘Insurance’ support to the global economy
Uğur Gülen, General Manager of Aksigorta, shared his future predictions by citing the research of Swiss Re, one of the largest reinsurance companies in the world. Gülen said, “The insurance industry has had a strong performance during the pandemic period, and this performance can provide a boost to the global economy that is expected to recover in the next year and beyond.” pulled.
PRICES WILL SUPPORT GROWTH
Noting that according to the report, the world economy will grow by 4.7 percent in 2021, Gülen said; He continued: “Afterwards, there will be a long-term economic recovery. The report states that for the economic recovery to be sustainable, growth should be more inclusive and sustainable infrastructure; draws attention to the need to invest more in the digital economy and human resources.
According to the report, the insurance industry gave a good test in the pandemic, it has withstood the global recession this year quite well. Stating that there is a growth expectation of 1.1 percent this year, excluding life, the report emphasizes that a growth of 3.6 percent is expected in this area in 2021 and 2022. The rise in prices will also support growth in the sector.” “The performance of the insurance industry during the pandemic period did not only prove the strength of the industry; it also shows that it can help the world heal”, Gülen explained; He also stated that there are evaluations in this direction in the report.
INCREASES RESISTANCE AGAINST SHOCKS
Gülen made the following statement regarding the details in the report: “In the report, ‘The ability of the world economy to absorb future shocks has weakened. Building resilience in this regard is vital. Investors and insurers can strengthen economies by co-financing sustainable infrastructure. Building resilience is the key to sustainable global recovery. I wholeheartedly agree with the statement that the insurance industry has the opportunity to use its financial power to move the world to a more sustainable and equitable point. He thinks that after the current period, countries will pursue what is better and more sustainable at many points; I believe that the insurance industry will take its position in this new world in the best way with its financial strength and new products and solutions that will make individuals and institutions more resistant to shocks.”