While twenty-twenty has been a difficult year for many industries, the current conditions haven't dampened experts' view of the life insurance industry.
There was certainly a dip in sales of life policies early in twenty-twenty, but the industry had largely recovered by mid-year.
While life insurers are by no means immune to the economic fallout from the pandemic, they have weathered the storm better than many other aspects of the insurance sector as a whole.
For that reason, Allianz now projects that global life insurance premiums could increase by up to five-point-six percent in twenty-twenty-one. Much of that growth is expected to come from China and other parts of Asia, rather than a necessarily robust recovery in the U.S.
But overall, the industry could be set up for a strong recovery