Business Confidence Index Q1.23 Published
Demand remains buoyant following strong global trade performance in 2022, but high inflation, ongoing geopolitical risks, and rising pre-claims situations mean underwriters remain cautious through the first quarter of 2023
Despite the expected economic slowdown, ST business is likely to continue its resiliency as we head into 2023, meanwhile growing demand for large infrastructure projects and green products boosts MLT business at the end of 2022.
Pre-claims situations have been gradually building throughout 2022 for both ST and MLT business and this is expected to materialise in higher claims paid in the first quarter of 2023, particularly if inflation persists and sovereign debt positions deteriorate.
Read the full report via the link below...