With signs on the rise for recession late this year or next, theproperty-casualty industry can take comfort from the fact that itis fairly immune to traditional business cycles, said a Swiss Reeconomist.
The reinsurance giant's U.S. economic outlook publishedyesterday said the February plunge in the stock market coupled withthe drop in orders for durable goods pushed the probability ofrecession in the United States up to 35 percent from 30 percent inJanuary.
Swiss Re economist Arun Raha said the property-casualty sectoris particularly immune to the ups and downs of the traditionalbusiness cycle.
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