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International

Shrinking property reinsurance capacity to drive up rates in 2023

June 20, 2022 Reprints

Analysts at U.S-based Morgan Stanley & Co. LLC expect the ongoing depletion of property catastrophe reinsurance capacity to drive up reinsurance rates in 2023, Reinsurance News reported. The analysts said that several reinsurers, including Scor SE and Axis Capital Holdings Ltd., are either reducing writings or exiting the property catastrophe market to reduce their exposure, leaving large underwriting gaps that even alternative capital is unable to fill.

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Shrinking property reinsurance capacity to drive up rates in 2023

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