Cat losses, capacity crunch could drive reinsurance rates at renewals

Industry experts said that reinsurance rates are likely to remain stable or increase at the upcoming Jan. 1, 2019 renewals driven by catastrophe losses and a potential capacity crunch in the insurance-linked securities sector, Artemis.bm reports. The insurance, reinsurance, retrocession and ILS sectors are expected to suffer tens of billions of dollars in losses due to catastrophes including typhoon Jebi and Trami in Japan and hurricanes Florence and Michael in the United States this year and hurricane Irma in 2017.

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