Jamaica Insurance Q4 2020
Covid-19 will likely cause a sharp recession in Jamaica’s economy in 2020. Nevertheless, real GDP growth should returnto the long-term trend through 2021. Premiums will contract in both the life and the non-life segments in 2020. However, thelonger-term impact of the pandemic will be very minor. The general growth of life insurance as a conduit for savings - for those thatcan afford it, at least - will continue. The non-life segment will benefit from the economic reforms that have taken place.
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