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Life insurance premiums to recover next year

Wed, 01 Jul 2009

The global insurance industry will remain subdued throughout 2009, but an economic recovery is likely next year, according to a study by Swiss Re.

The study singled out life insurance premiums and predicted a slow year during 2009. With turbulent stock markets and employment prospects low, any recovery will be delayed until next year.

One of the authors of the study, Daniel Staib, reportedly commented: "As the economy recovers, we expect both higher life premiums and better investment results as asset prices are expected to improve," said Daniel Staib, one of the authors of the study on insurance markets in 2008. This will not only have a positive impact on profitability, but also on shareholder capital and the ability to raise capital. In the medium and long-term, the outlook for life insurance remains positive."
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