Total global insurance premium income amounted to almost EUR5.6trn in 2022. Life remains the largest segment (EUR2.6trn), ahead of p&c (EUR1.8trn) and health (EUR1.1trn). In 2022, the premium pool grew by EUR259bn or +4.9% – against the backdrop of a global inflation rate of 8.6%.
As the G7 gathers in Japan this weekend, the US is championing outbound investment curbs on potentially sensitive technologies or the outsourcing of critical production as the next step to de-risk supply chains and reduce dependence on China.
The shift to battery electric vehicles is a game changer for the European automotive industry.Alternative energy vehicle sales reached a record-breaking 4.4mn units in 2022, representing 47% of all new vehicle registrations in Europe.
The crisis-related damage to labor markets has not been as bad as expected amid changing consumer preferences and spending behavior. Employment has increased by 2.3% relative to pre-crisis levels, especially in France and Spain.
Ahead of the next round of monetary policy meetings next week, continued banking sector stress raises the question of whether financial stability concerns might alter the policy rate path in the US and the Eurozone, allowing inflation to remain higher for longer.
In a context of higher inflation and financial instability on the one hand, and a just transition and deglobalization on the other, the drivers of Return on Equity (RoE) across geographies help identify risks and opportunities in equity markets.
Some US banks remain under pressure, especially those with large exposure to commercial real estate (CRE). The office sector in particular has come under market stress.
