Reinsurance rate increases to align with rate of inflation

German investment banking firm Joh. Berenberg Gossler & Co. KG said that reinsurance rate hikes will be commensurate with inflation, Reinsurance News reported. Berenberg said that in addition to the inflation, rising natural catastrophe losses, capacity constraints and economic volatility due to the Ukraine-Russia war would continue to drive underwriters to increase rates in 2023 and potentially into 2024.