The combination of re-opening economies following vaccine roll-outs around the world, pent-up consumer and business demand, potentially still constrained supply chains, and continued fiscal and monetary stimulus is causing many market participants to increasingly focus on a return of inflation. Such shift in sentiment is driving broad shifts in global financial markets and is likely to emerge as one of the most significant investment themes in 2021.
Inevitably, this reflation dynamic will have many and varied impacts on insurance investments managed by Twelve Capital. In aggregate, Twelve expects the impact of reflation to be positive for insurance sector fundamentals.
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