Demand for private medical insurance to increase after Covid-19 pandemic & more…Keep up with what has been happening this week in our latest actuary news round-up…
A research project analysing diabetes mortality and morbidity risk is being commissioned by the IFoA’s Actuarial Research Centre (ARC), Pacific Life Re, Partner Re, Swiss Re and Zurich Insurance Group. The project aims to create a deeper understanding of the risk associated with type 1 or type 2 diabetes.
Swiss Re Institute’s sigma has said that the global insurance industry will be able to overcome the recession due to the Covid-19 pandemic. Although there has been less of a demand for insurance this year, the demand for insurance will go back up in 2021 says Swiss Re.
According to GlobalData, a leading data and analytics company, the demand for private medical insurance will increase after the pandemic due to the backlog of NHS cases created by the pandemic.
LCP has released their latest pensions de-risking report; which predicts that 2020 will be one of the biggest years on record for the buy-in buy-out market. The reports showed that volumes will potentially exceeding the £24.2bn in 2018.
In Allianz’s latest Global Insurance Report, it is predicted that the coronavirus crisis will shrink the global insurance premium income by 3.8% this year. Making it three times larger than the 2008 financial crash; which was only 1%.
Insurer, Zurich, has published its ethnicity pay gap figures for 2020to tackle inequality in pay for its ethnic minority employees. The data for ethnic minority workers shows a 9.8% gap for the average hourly pay; which is an improvement compared to the 11.8% gap in 2019.