2020 Economic and Industry Outlook: Third Quarter Perspectives

This report updates the global macroeconomic scenarios based on the most recent developments of the epidemiological situation. The information shows a very noticeable contraction of global economic activity in the first half of 2020, although the leading information for the third quarter points to certain stabilization. The relaxing of control measures implemented for the Covid-19 pandemic, along with the measures activated in the monetary and fiscal policy arena, are making it possible to reawaken the demand contained in the first half of the year, thus pushing toward a slow return to normality of real and nominal values. This economic environment will have important effects on the insurance sector, which depends in large part on the adequate functioning of financial markets and general economic performance. For a more in-depth analysis of the potential effect on insurance demand, the report gives an updated revision of the health and economic crises experienced in recent decades.