Tepid economic growth in Europe could result in a growing risk of civil unrest, a top executive with the German insurer Munich Re said today.
Clarisse Kopff, a board member overseeing business in Europe and Latin America, said that lower rates of economic growth in Europe, compared with the US and China, were already resulting in tension.
"This will put pressure on the purchasing power of European citizens ... This might fuel more riots, more civil commotions," she told journalists.
The International Monetary Fund this week forecast economic growth of 2.1% in the US for 2026 and 4.2% for China, while the euro zone would likely grow just 1.1%.
Civil unrest was one of several risks that the world's largest insurer highlighted ahead of an upcoming industry gathering in Baden-Baden in Germany.
Munich Re also pointed to a growing risk of hail damage in Europe as the climate warms, as well as cyber risks that could result in business interruption, especially in Europe with relatively low rates of cyber insurance coverage.
