Triple-I: Insurance Economic Drivers Outperforming Overall US GDP, and Likely to Gain Further Momentum on Federal Reserve Cuts
The economic drivers of the
"We've been forecasting that P/C underwriting growth would catch up on overall GDP and it has," said
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"Different economic stress scenarios may reduce or widen the spread between P&C underlying growth and overall GDP growth, or even reverse the overall trend of P&C underlying growth outperforming overall GDP growth," said Leonard. "The top two risks to underlying insurance growth and overall GDP growth is the Fed slowing or reversing course on monetary easing and renewed geopolitical risk including global supply chain disruptions."
Leonard said that a decision by the Fed to cut interest rates this year, "would provide further tailwind to key insurance underwriting growth such as housing and auto sales."
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OTHER RESOURCES
Insurance Economics for Property/Casualty (https://www.iii.org/article/insurance-economics-for-property-casualty)
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Original text here: https://www.iii.org/press-release/triple-i-insurance-economic-drivers-outperforming-overall-us-gdp-and-likely-to-gain-further-momentum-on-federal-reserve-cuts-041124
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