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Introduction

For this new issue of the magazine Economía y Seguros [Economics and Insurance], four topical articles have been selected from publications by MAPFRE Economics. Two of these articles summarize the economic and sectoral outlook for 2022, which is discussed at greater length in the report Panorama Económico y Sectorial 2022: perspectivas hacia el segundo trimestre [2022 Economic and industry outlook: second quarter perspectives]. As the study suggests, the path toward the global economic recovery that marked the beginning of 2022 was cut short by Russia’s invasion of Ukraine during the first quarter of the year, which caused growth forecasts to begin to exhibit significant deterioration at the global level. The rise in commodity prices worldwide, mainly in the sphere of energy, oil derivatives, and food, has raised the risk of economic disruption, albeit with certain regional differences. This scenario is casting a shadow over the outlook for business development and profitability of the insurance sector in 2022 against the backdrop of high volatility in the financial markets.

Another of the selected articles deals with excess mortality, management of the pandemic, and the effects on the insurance sector, a synthesis of the study Covid-19: un análisis preliminar de los impactos demográficos y sobre el sector asegurador [COVID-19: a preliminary analysis of demographic and insurance industry impacts]. In addition to an in-depth analysis of the excess mortality seen during 2020 and 2021 in a total of 39 countries, this paper presents a Pandemic Management Effectiveness Indicator (PMEI). Deepening our analysis of the measures adopted to tackle the situation and of the excess mortality observed in 2020 and 2021, the goal of the indicator is to assess how effective the 39 countries were in managing the pandemic.

Finally, the article entitled Composición de la cartera de inversiones de las entidades aseguradoras ante la Covid-19 [Composition of insurance companies´ investment portfolios in the wake of COVID-19] presents a comparative analysis of the main items in the insurance sector’s investment portfolios in a selection of developed markets (Eurozone, United States, Japan, United Kingdom, and Spain) and emerging markets (Brazil and Mexico) for the first year of the pandemic crisis.

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