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General insurance direct written premium set to fall by 1.7% in 2020 due to Covid-19

By 2020-08-10T07:04:00

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The lasting effects of the coronavirus crisis means that GI DWP will not return to previous levels until beyond 2023, predicts analytics company

Data analytics and consultancy firm GlobalData has forecast that general insurance direct written premium (DWP) will fall by 1.7% in 2020, compared to a 1.9% DWP growth spurt prior to the Covid-19 pandemic.

As part of its revised post-Covid-19 forecast, GlobalData also estimated that DWP in general insurance will regain a steady growth between 2021 and 2023. Despite this, DWP will still not reach pre-pandemic levels by 2023 due to the lasting impacts of the coronavirus outbreak.

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