COVID-19 has slowed life and health insurers’ premium growth in multiple countries and nations around the world.
In Canada, for example, gross written premiums are expected to decline by 4.2% in 2020, whereas before the pandemic, they were expected to grow by 3.8%.
However, the global insurance industry is expected to recover in 2021, said research firm GlobalData in its multiple publications released this year.
The Insurance Portal has generated a table based on the firm's premium growth forecasts for several countries in life and health insurance for 2021.
The figures for the Canadian insurance industry have not been compiled. Some countries also provided data on the industry as a whole, without specifying whether it was P&C insurance or life and health insurance. They have also been incorporated into this table.