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Global Growth Slowdown and Insurance Challenges
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Swiss Re Institute predicts a world GDP growth slowdown to 2.2% in 2024, fortifying the insurance industry against risks while anticipating a higher recession risk in Europe. The company foresees robust growth in savings products with global premiums expected to reach USD 4 trillion by 2033, amidst sustained hard market conditions due to natural catastrophe losses exceeding $100 billion annually.
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How might the predicted world GDP growth slowdown impact different regions and industries?
In what ways can the insurance industry innovate to mitigate the impact of natural catastrophes on market stability?
What strategies could insurers implement to navigate sustained hard market conditions effectively?
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