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Descombes steered that international circumstances for gross sales of life insurers’ retirement merchandise needs to be robust for the subsequent 20 years, and particularly in China and different rising markets.
Because of the rising the variety of older, middle-income individuals in locations like China, greater than half of the world’s retirement product gross sales shall be coming from rising markets, up from 45% 5 years in the past, Descombes mentioned.
Mortality: Dying charges are nonetheless noticeably increased than they had been in 2019 in locations like the US, Canada and the UK, Descombes mentioned.
“COVID continues to be current,” he mentioned. “Well being care programs in lots of nations haven’t but absolutely recovered.”
However “we stay optimistic about long-term future mortality enchancment,” he added.
Descombes cited falling COVID charges, well being care system restoration and wellness efforts as components that ought to trigger demise charges to fall and push up life expectancy.
COVID-driven enhancements in vaccine expertise also needs to assist, by offering new methods for medical doctors to stop and deal with COVID, Descombes mentioned.
Julien Descombes. Credit score: Swiss Re
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