Allianz Global Wealth Report 2022 sees positive outcomes in financial asset growth and insurance coverage for PH

Leading global insurance brand Allianz has recently released its Allianz Global Wealth Report 2022, which compounds facts and figures based on the asset and debt situation of households in almost 60 countries, including the Philippines.

According to the report, 2019 to 2021 saw an exponential boom in the growth of global financial assets, with bullish stock markets powered by monetary policy and an increase in private wealth among households. Asia (excluding Japan), Eastern Europe and North America stood out as major contributors to asset growth, and savings were powered primarily by bank deposits, insurance and pensions.