Outlook negative for global banks, life insurance, reinsurance; stable for P&C insurance

Laura Bazer and Dominic Simpson of the Insurance team and Greg Bauer and Sophia Lee of the Banking team discuss how a fragile economic recovery, low interest rates and uncertainty about renewal of government support measures are among the drivers of negative outlooks for global banks, life insurers and reinsurers (begins at 1:55). P&C insurers will benefit in the difficult operating environment from lower auto claims, strong capital, and the mandatory nature of certain products.Inside this episode:Life insurance, reinsurance and P&C insurance 2021 Outlook (begins at 1:55)Banking 2021 Outlook (begins at 11:20)Related content:Banks – Global 2021 Outlook - Global banks entered the coronavirus crisis with strong balance sheets but still face substantial risk in 2021. Ongoing low interest rates, digitalization and ESG compliance will continue toReinsurance – Global 2021 Outlook - Uncertainty around coronavirus-related losses, along with low interest rates, shrinking reserve releases and more expensive retrocessional coverage will weaken reinsurers’ profitability.P&C Insurance – Global 2021 Outlook - 2021 Outlook stable on strong capital, commercial prices (Slides)Life Insurance – Global 2021 Outlook - Ultralow interest rates underpin our negative outlook; Covid-19 mortality and related economic fallout have hurt profitability and investments less than we expected