Reinsurance rate hikes to slow at January renewals
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U.S.-based Fitch Ratings Inc. expects reinsurance rates to increase at the January 2022 renewals although at a slower rate of high single-digit or low double-digit, as major reinsurers approach rate adequacy following years of rate hikes, Artemis reported. Although reinsurers are faced with high COVID-19 and catastrophe losses, adequate capital has improved capacity bringing an equilibrium in the market.
