Economic and financial information

Economic and financial information

The analysis and research work of MAPFRE Economic Research focuses on topics related to insurance and complementary social security, macroeconomic and financial variables and regulatory frameworks. With the aim to foster analysis, different types of reports will be produced:

 

Outlook reports that provide a general overview of the main prospects, forecasts and macroeconomic and financial trends for the year in question, as well as an assessment of their impact on the insurance business. This annual report is supplemented by quarterly updates in which the analysis of the most relevant events and developments of the period is considered.

Economic and Industry Outlook 2018: Fourth Quarter Perspectives

2018 Economic and industry outlook: fouth quarter perspectives

Various factors seem to crystalize the signs that have been visible since the beginning of the year announcing the change in cycle of the global economy led by the United States economy. Starting in 2019, global growth will reduce, giving way to a central soft-landing scenario in which the global GDP will stand close to potential. Developed and emerging countries will contribute to this growth similarly (though less than before), and there will be a loss of coordination of monetary policy on a global level. Our central scenario has strong downside risks, primarily originating in USA and China.

Economic and Industry Outlook 2018: Fourth Quarter Perspectives (English)
Economic and Industry Outlook 2018: Fourth Quarter Perspectives (Spanish)

Economic and Industry Outlook 2018: Third Quarter Perspectives

2018 Economic and industry outlook: third quarter perspectives

Although global activity maintained its cyclical momentum in the second and part of the third quarter, it is continuously less synchronous, more fragile and more dependent on stimuli from the US. US trade, economic and international policies have become a source of shocks, with global repercussions in the appreciation of the USD, volatility of the Brent and global activity and trade expectations. Although so far this has not led to a risk event, the accumulation of global imbalances, the cycle itself reaching its end, and the US administration’s ability to provoke volatility on all levels on a global scale, make caution necessary. The current base scenario is an organized cyclical adjustment, though recently the probability of a more severe adjustment is growing.

Economic and Industry Outlook 2018: Third Quarter Perspectives (English)
Economic and Industry Outlook 2018: Third Quarter Perspectives (Spanish)

Economic and Industry Outlook 2018: Second Quarter Perspectives

Panorama económico y sectorial 2018: perspectivas hacia el segundo trimestre

It is noteworthy that global growth has maintained its momentum during the first quarter, ratifying expectations for growth very similar to 2017, both in speed and in composition. This growth will continue, backed by strong fiscal and monetary demand stimuli in both regions. Additionally, the United States fiscal policy, the maintenance of lax monetary policies at a global level and the strong inertia of spending and investment dynamics will be guarantors of this.

Economic and Industry Outlook 2018: Second Quarter Perspectives (English)
Economic and Industry Outlook 2018: Second Quarter Perspectives (Spanish)

Economic and Industry Outlook 2018

Panorama económico y sectorial 2018

This report offers a general perspective of the key macroeconomic and financial trends for 2018, both globally and in the key economies, as well as an assessment regarding its interconnection with and impact on insurance activity. The global economy could grow 3.7 percent this year, one tenth more than in 2017, and above the expectations from 12 months ago. However, global economic activity also shows signs of stabilization, anticipating that maybe we are leading up to a change in cycle, which will materialize towards the end of 2019. In the case of the insurance industry, the worldwide growth forecast for 2018 anticipates a positive impact on the development of the global insurance market, which will be especially notable in emerging economies.

Economic and Industry Outlook 2018 (English)
Economic and Industry Outlook 2018 (Spanish)
Economic and Industry Outlook 2018 (English) (ePub)
Economic and Industry Outlook 2018 (Spanish) (ePub)

Economic and Industry Outlook 2017: Fourth Quarter Outlook

Economic and Industry Outlook 2017: Fourth Quarter Outlook

In this report the current global economic situation is reviewed, focusing on the countries that comprise MAPFRE’s market. We update activity, price and financial variable outlook, as well as the balance of risks and vulnerabilities the global economy is facing. This report highlights the development of global economic politics, with a special emphasis on the consequences for the global economy and the insurance market of the expected withdrawal of liquidity associated with the standardization of large central banks’ balance sheets.

Economic and Industry Outlook 2017: Fourth Quarter Outlook (English)
Economic and Industry Outlook 2017: Fourth Quarter Outlook (Spanish)

Economic and Industry Outlook 2017: Third Quarter Outlook

Economic and Industry Outlook 2017: Third Quarter Outlook

This document offers MAPFRE Economic Research vision on the expected economic and sector outlook for 2017 / 2018. The issue focuses on the normalization process of global monetary policies, policy and political developments in the USA and the real side impact of politics in Europe and Latin America. In addition, the report also reviews how global imbalances evolve as to cast and render them into our forecasts. Forecast figures of this report have been updated as of July 17th 2017.

Economic and Industry Outlook 2017: Third Quarter Outlook (English)
Economic and Industry Outlook 2017: Third Quarter Outlook (Spanish)

Economic and Sector Outlook 2017: Second Quarter Outlook

Economic and Sector Outlook 2017: Second Quarter Outlook

The strong economic pulse in the first quarter of 2017 foresees a light acceleration in global growth for this year, not without certain political and economic uncertainties, which are analyzed in this quarterly review. This report updates the status of the economic overview and its influence on the insurance market. The global insurance industry is noting acceleration in business, both in Life and Non-Life, with a contribution from emerging countries above what was initially expected. This growth is expected to continue throughout 2017-2018, both in developed and emerging markets, the latter leading the path to growth.

Economic and Sector Outlook 2017: Second Quarter Outlook (English)
Economic and Sector Outlook 2017: Second Quarter Outlook (Spanish)

2017 Economic and Sector Outlook

2017 Economic and Sectoral Outlook

Situational report prepared by MAPFRE Economic Research offering a general view of the key financial and macroeconomic trends for 2017, as well as an assessment of their interconnection and impact on insurance activity. The first part of the report analyzes the global economic environment, characterizing it as “secular stagnation” (low level of economic activity, low inflation, and low interest rates). This conceptual framework is the starting point to evaluate the loss of monetary policy effectiveness, and the growing need to more active use of fiscal policy as a way of injecting new stimulus into economic activity. The second part of the report offers an analysis of the mechanisms through which the global economic activity will affect the insurance sector. A general conceptual framework is included, as well as a quantitative analysis that foresees an acceleration in the insurance business throughout 2017-2018 both in developing and emerging markets, the latter leading the path toward growth. Further, it provides a perspective on the major regulatory trends that can affect the insurance sector in 2017.

2017 Economic and Sector Outlook (Spanish)