The current outlook offers a more balanced macroeconomic picture, although the slowdown in the global economy continues to pose certain divergences in terms of activity, inflation and monetary policies, in the face of a challenging geopolitical scenario. Thus, the report’s baseline scenario forecasts global economic growth of 3.0% for 2024 and 2.9% for 2025, while, in terms of prices, average inflation for these years is anticipated to be 4.5% and 3.5%, respectively. The balance of global risks is slightly biased to the downside, with geopolitical, governance and economic policy risks leading the balance, along with a potential transition to a less benign, though not recessionary, scenario. This economic backdrop will continue to have a positive impact on both insurance demand and industry profitability, aided by more moderate inflation and high financial income from high interest rates.
Insurance