Covid-19 has sparked the worst recession since the Second World War in the UK, and Brexit uncertainty is just around the corner. What does this mean for growth in 2020? Ana Boata, Head of Macroeconomic Research, explains.
Updates and support on Covid-19
Get our latest news and insights on the Covid-19 crisis.
Important message to our customers:
We are committed to support our customers at this difficult and uncertain time. We encourage customers experiencing financial difficulties due to COVID-19 to speak to their usual policy contact to discuss possible support measures, which may include a review of the scope of cover and policy terms or, where applicable, a premium payment deferral.
If you have a question regarding the UK government's state support scheme, please contact our Customer Line:
6 key figures about the impact of Covid-19 on the global economy
Global GDP growth forecast for 2020, the slowest pace since 2009
Forecast for decline in global trade of goods and services in volume in 2020
1064bn USD
Global export losses from one quarter of lockdowns around the world
65 million
Jobs requiring social assistance in the EU from Covid-19 related lockdowns
13,000
SMEs and midcaps at risk of bankruptcy in the Eurozone, with an average turnover of EUR40mn at risk
Forecast for rise in global insolvencies in 2020, (+7% increase in the US, a +15% rise in China and a +16% surge in Europe)
What does Covid-19 mean for the UK's economy?
What does Covid-19 mean for the UK's economy?