Economic and Industry Outlook 2019

The report emphasizes the fact that the close of 2018 marks the beginning of the path of gradual deceleration that has been anticipated since the end of 2017. This economic slowdown (which will imply global growth close to 3.3 percent for 2019) will include three characteristics: it will be increasingly asynchronous and fragile; it will have less intense activity and inflation; and it will develop in less favorable and divergent financial conditions. This economic context will continue to favor the insurance market, but the deceleration of the key economies and the ending of the cycle could begin to impact premium growth in the insurance market, especially in the Non-Life and Life Protection segments, given their strong connection to the behavior of the economic cycle.