Economic and Industry Outlook 2022

The report presents a view in which global economic activity growth is in a phase of exhaustion, accompanied by tighter financial conditions, as well as more entrenched and persistent inflation. In this context, global GDP growth in 2022 and 2023 is forecast to be 3.2% and 2.7%, respectively, maintaining the view of previous reports of a short to medium-term scenario of global stagflation, with some countries briefly slipping into recession, but not reaching a global downturn. Thus, an economic environment characterized by aggressive monetary policy in the coming months and recession in the world’s major economies is increasingly likely. This will have a negative impact on insurance markets, which will face a complex outlook.