Pandemic puts reinsurance market into sustainable hardening

Analysts at U.S.-based investment banking firm JMP Securities LLC said that the COVID-19 pandemic and the recent consecutive catastrophe loss years have driven the global reinsurance market into a phase of "sustainable hardening," Artemis reported. Casualty reinsurance rates are also on the rise, but it will only become clear at the January 2021 renewals how broad the hard market will get, the analysts said.

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