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A police officer and a member of the Bundeswehr forces examine partially submerged cars on a flooded road following heavy rains in Erftstadt-Blessem, Germany, July 17, 2021. REUTERS / Thilo Schmuelgen
BERLIN, Sept. 9 (Reuters) – Reinsurer Swiss Re has said it expects non-life insurance premiums to rise 10% from pre-pandemic levels by the end of 2021 and increase further the following year, in part due to a growing need for protection against the impact of climate change.
The company’s research arm said it expects non-life insurance to reach $ 6.9 trillion globally this year, and for the first time cross the $ 7 trillion mark. in 2022. Natural disasters such as forest fires and floods combined with increased urbanization create greater risks, he said.
“It is clearly recognized that the frequency and severity of claims are increasing, as evidenced by recent natural disasters or cyber incidents,” said Moses Ojeisekhoba, CEO of Reinsurance at Swiss Re.
Reporting by Thomas Escritt Editing by Shri Navaratnam
Our Standards: Thomson Reuters Trust Principles.
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