Claims inflation deteriorates outlook for German nonlife insurers

U.S.-based Fitch Ratings Inc.’s outlook for German nonlife insurers in 2023 is deteriorating as it expects inflationary pressure on property and liability insurance claims to outweigh higher investment yields, Reinsurance News reported. Fitch expects rates across buildings, property and motor insurance lines to increase in 2023, but the rate hikes are not expected to be adequate enough to cover claims inflation.