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Still strong labour markets and improving real wages are set to boost insurance demand. Higher interest rates will fuel strong sales in fixed-rate life savings business, creating a notable turnaround in the life insurance industry, especially in advanced markets. Life insurance in advanced markets has been in a slump on account of the very low interest rate environment that ran from the time of the global financial crisis (2008–09) until after 2021. Now, the sector is back in business. |
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