EXAMPLE PAGE - ANNUAL REPORT - THE SWEDISH CLUB - Flipbook - Sida 49
FINANCIAL STATEMENTS
the economies of most countries
recovered from the negative outcome of
2020 stemming from the initial outbreak
of the pandemic. The conditions for
further global economic recovery in 2022
are assessed as relatively favourable. The
consequences of the war are now, early in
2022, difficult to evaluate and constitute
great uncertainty regarding assessment
of economic development.
For 2022, the Club will be prioritising price
recovery above volume growth. It
anticipates that the total claims cost for
2022 will be significantly lower compared
to 2021, which stood out as an unusual
year with a seldomly occurring
concurrency of large claims. 2022 has
started out with softer equity markets
and rising interest rates, which have
weakened conditions for the Club’s
investment activities. The rate of
favourable development in stock markets
experienced during 2021 is expected to
taper off during 2022.
To further
strengthen its
competitiveness
and market
offering the Club
is preparing to
open a branch
office in
Singapore.
The assessment is that the Club’s relative
competitive strength will stand, and its
strong financial position will provide
resilience and offer comfort to business
partners and members. To further
strengthen its competitiveness and
market offering the Club is preparing to
open a branch office in Singapore.
Judged by the level of reported claims,
insurance activities have developed in line
with plan during the start of the year.
However, as in 2021, direct marketing and
sales activities will be conducted in line
with the recommendations of the
Swedish Public Health Agency and other
government authorities.
THE SWEDISH CLUB ANNUAL REPORT 2021
49