Climate change to drive demand, rates of property insurance
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Analysts at Goldman Sachs Group Inc. said that insurers and reinsurers in the London market are evaluating if their pricing aligns with the increased costs of climate change-related losses or whether they are basing pricing on historical trends, Reinsurance News reported. Analysts expect climate change-related losses to serve as atailwind for the insurance and reinsurance sector over long term, driving both the demand and prices of property insurance and reinsurance.
