P&C insurance, reinsurance rate hikes to offset claims cost inflation

Analysts at U.S.-based J.P. Morgan Chase & Co. expect an overall increase in property and casualty insurance and reinsurance pricing this year, providing P&C insurers and reinsurers with opportunities to tackle claims cost inflation and grow business, Reinsurance News reported. Another year of substantial losses and continued weak sub-sector return on equity is expected to push the reinsurance rates up.