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Introduction

Pension systems, the economic environment and the sectorial outlook for the insurance industry in the second quarter of 2021, financial inclusion in insurance, and the financial and solvency position of Spanish insurance companies in 2020. These are the topics selected for this latest issue of the “Economics and Insurance” magazine, representing a summary of some of the research produced by MAPFRE Economics overthe last year.

The article on the subject of pensions presents the main conclusions of the study “A Global Perspective on Pension Systems“, which advocates the “Index of Pressure for the Reform of Retirement Pension Systems (IPSPJ, in Spanish)“, a synthetic index developed by MAPFRE Economics that seeks to measure this pressure based on six indicators of adequacy and sustainability in pension systems. Moreover, from the analysis of the reforms carried out in recent decades across the 11 systems studied, the report distils the most common parameters on which these reforms have been focused, as well as the public monitoring mechanisms introduced to redistribute the risks arising from their operation. It is proposed that these elements of public policy may guide the reform of pension systems in other geographical areas.

Also in the issue, two articles have been put together based on the report “2021 Economic and Industry Outlook: Second Quarter Perspectives” . The first article analyzes the state of the global economy one year on from the declaration of the COVID-19 pandemic. The second looks at the main implications for the insurance industry of this challenging economic environment. In addition, the article titled “Financial Inclusion in Insurance” is based on a report with the same title and discusses how microinsurance can help drive financial inclusion, as well as the main factors that are influencing the development of activities aimed at enhancing inclusive insurance.

Lastly, the “Spanish insurance market: analysis of SCR, equity and solvency ratios (2020)” examines a group of insurance companies that represent 70.3% of the insurance premiums and 79.4% of the technical provisions in the Spanish market in 2020, carrying out a comparative analysis of their financial and solvency situation in that year.

Readers of this issue of our magazine will hopefully be encouraged to delve deeper into the subjects discussed, and that new users will be motivated to subscribe to all the news published by MAPFRE Economics.

 

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