The Global Economy is in hot water, and its twice as deep as in 2008
Covid-19 has dragged the world into a sharp and deep global recession, albeit likely to be short. Please join us for a hard hitting 30 minute session with Jerome Haegeli, the Group Chief Economist of Swiss Re, who shares his assessment of how the global economy is being impacted by this unprecedented recession, and provides his longer term prognosis on the economic "new normal".
The pandemic can also be seen as a test of resilience of the global economy. Jerome notes that unfortunately the world is now less resilient (having higher debt and lower potential GDP growth) after the 2008-2009 Global Financial Crisis to absorb the COVID-19 hit, but he does also note that Swiss Re Sigma research shows insurance plays a central role to improve families, companies and societies resilience.
The session covered:
- Global Recession in 2020 and the path to recovery;
- Alternative scenarios to address the tremendous uncertainty;
- An overview of the insurance market outlook;
- Potential paradigm shifts for the global economy.
- Host: Stephen Higginson, Head Customer & Distribution ANZ, Swiss Re Corporate Solutions
- Key Speaker: Jerome Haegeli, Group Chief Economist, Swiss Re
Watch the recording below: