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Insurers can expect double-digit reinsurance rate hikes at renewals

Posted On: Sep. 23, 2022 9:55 AM CST

U.K.-based consultancy firm Peel Hunt LLP expects reinsurance rates to increase at least by around 15% or more at the 2023 reinsurance renewals as reinsurers adjust rates to account for climate change-related loss trends and inflation, Artemis reported. Risk-averse reinsurers are likely to reduce capacity in the property catastrophe classes.