A combination of investment and regulatory risk is clouding the economic picture for the global insurance industry according to economists at Swiss Re.

Speaking at the company’s Economic Forum, Swiss Re U.S. Chief Economist Kurt Karl predicted modest economic growth in the U.S. but warned that turmoil in the financial markets could imperil the recovery. "Although the recovery is nearly 18 months old and broadening, investor trust in its continuation is still weak,” he said. “Instability continues in several important real estate markets including the US, Ireland and Spain. Despite the support received from the International Monetary Fund and the European Union, there are still concerns as to whether Greece and Ireland can cope with the problems they face."

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