S&P: Though recession may loom, life insurers in a good position
September 20, 2022 by John Hilton
The life insurance industry is facing significant headwinds, an S&P Global Ratings’ analyst said this morning, but is strong enough financially to push through 2023.
Speaking during the 2022 Insurance Summit organized by the National Association of Insurance Commissioners, Carmi Margalit, life insurance sector lead, said storm clouds are gathering and it starts with the economy.
“Economists at S&P, they peg the likelihood of a recession at somewhere around 45%,” Margalit said. “Most likely not this year, but towards the middle of next year.”