Global insurance loss estimates and current losses due to COVID-19 outbreak 2020

Published by
Jennifer Rudden,
Jan 11, 2022
The global insurance industry had lost 4.2 billion U.S. dollars due to the COVID-19 pandemic as of May 2020. Estimates for the total losses the market will experience in 2020 range from 11 to 140 billion U.S. dollars according to Willis Towers Watson, whereas Bank of America's estimates range from 30 to 97 billion U.S. dollars.

Forecasted losses and current loss experience from COVID-19 for insurance industry worldwide as of May 2020 (in billion U.S. dollars)

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Sources

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Release date

May 2020

Region

Worldwide

Survey time period

May 2020

Supplementary notes

The five sources released a range of estimates, and Statista used the highest point of each for comparison.

The estimates published by the sources were as follows:
Dowling & Partners: 40 to 80 billion U.S. dollars.
Autonomous Research: 31 to 86 billion U.S. dollars.
Barclays Research: 30 to 80 billion U.S. dollars.
Bank of America Global Research: 30 to 97 billion U.S. dollars.
Willis Towers Watson: 11 to 140 billion U.S. dollars.

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