Although a contraction is highly likely for 2020, we expect this to be smaller than that of the general economy and succeeded by a return to growth in 2021.
CyprusProfile.com asked Andreas Stylianou, Chairman of Insurance Association of Cyprus (IAC) what his expectations for the Insurance sector and overall economy are for the year ahead?.
We are confident that the insurance industry will once again prove its resilience in the face of the strong headwinds caused by the Covid-19 pandemic. Although a contraction is highly likely for 2020, we expect this to be smaller than that of the general economy and succeeded by a return to growth in 2021.
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