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Covid-19 to dampen global insurance market in 2020, but Asia to pick up steam more quickly: Allianz

Genevieve Cua

Genevieve Cua

Published Wed, Jul 1, 2020 · 09:50 PM

    Singapore

    THE impact of Covid-19 on the global insurance market is expected to be three times worse than the impact of the global financial crisis of 2008, according to Allianz in its latest global insurance report.

    Premium income is expected to shrink by 3.8 per cent globally in 2020, and by 0.7 per cent in Asia ex-Japan, as the sudden stop in economic activity around the world will batter insurance demand.

    AllianzInsurance

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