Global ranting agency moody’s says outlook on global insurance brokers stays stable for 2021 highlighting the industry’s solid business model and a budding economic recovery.

The agency projects that as more economies recovers on the cheering news of a vaccine for the covid-19, fueled by rising rates of commercial property and casualty insurance will help brokers achieve average organic growth in the low single digits for full year 2020 and higher in 2021.

Additionally, a number of cost-saving measures implemented by brokers as covid-19 took hold in the second quarter are expected to support earnings and cash flow in the year ahead.

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