Insurance company Lloyd's revealed that worsening geopolitical tensions could cost the global economy $14.5 trillion in losses over 5 years, due to its impact on supply chains and the insurance market. The company, in cooperation with the Cambridge Center for Risk Studies, developed 8 possible scenarios, related to geopolitical risks globally, and the least severe of these scenarios, the global economy will suffer losses of $ 7 trillion over five years, and the worst of them, will cost the economy $ 50 trillion for the same period.
Lloyd's pointed out that the disruptions threaten 80% of the world's imports and exports, or 11 billion tons of goods, pointing out that the closure of major trade corridors is one of the biggest threats currently.
