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Berenberg is a privately owned German investment bank. It recently looked at insurance companies and the impact of a possible recession on them.
The bank concluded that insurers will come through okay.
In fact, Berenberg says insurers are well-prepared to weather the storm, and a storm is coming. The bank predicts a shallow recession stretching into 2023 for the United States, the United Kingdom and parts of Europe.
The bank says insurers will do well because of the strength of their cash flows, near record highs in solvency and combined ratios of 93% to 95%. It also likes that commercial lines firms have reworded contracts to exclude cyber and pandemic risk, and have limited business interruption payouts.
Source link: Reinsurance News — https://bit.ly/3OJmvX6 |
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