Despite this, Swiss Re believes the global economy has remained remarkably resilient, setting the scene for growth and improved profitability across the insurance industry. Jérôme Haegeli, Swiss Re’s Group Chief Economist said the insurance industry has reached a new equilibrium after the challenges of recent years. This resilient growth is expected to continue into 2025 at 2.8 percent in real terms. However, returning to target inflation levels is unlikely to be a smooth journey, the organisation said. In the US, inflation is expected to return to target in 2025, due to higher-than-anticipated core services prices.

Source: Nigerian Tribune July 22, 2024 18:52 UTC