New Delhi, July 15 -- The US' imposition of tariffs put the world economy in a backward or deceleration mode. Consumers and firms are already spending cautiously, which has not yet been measured by economic think tanks or policy institutes.
According to the Swiss Re Institute's report, global GDP, or Gross Domestic Product, is expected to decline, and the insurance industry will also follow the same trend. Swiss Re Ltd is a Zurich-based company with a main focus on the global insurance industry. It is also listed on the SIX Swiss Exchange, which is Switzerland's principal stock exchange.
Jerome Jean Haegeli (Chief Economist, Swiss Re Group) said that the future prospects of insurers' profitability are still positive but the uncertain tari...