Help

BI’s Article search uses Boolean search capabilities. If you are not familiar with these principles, here are some quick tips.

To search specifically for more than one word, put the search term in quotation marks. For example, “workers compensation”. This will limit your search to that combination of words.

To search for a combination of terms, use quotations and the & symbol. For example, “hurricane” & “loss”.

International

Underwriters must hike property cat rates by 50% to restore profitability

December 16, 2022 Reprints

U.K.-based Ernst & Young Global Ltd. said property catastrophe reinsurance rates should rise 50% during the 2023 January renewals, especially in the U.K., if insurers and reinsurers want to offset the rising claims costs and restore profitability, Artemis reported. This suggested rate hike comes as underwriters are increasingly exposed to climate change-related risks and inflationary pressure.

1. Nearly $8 billion lawsuit against Sony approved for trial
2. Sompo International posts underwriting income of nearly $341 million
3. Bulgaria’s watchdog probes SDI Group’s takeover by Acrisure
4. Toyota Financial Services suffers ransomware attack
5. Lloyd's of London to sign deal to remain in headquarters until 2040s
6. Dockworkers refuse to offload Tesla cars at Swedish ports

Help

Underwriters must hike property cat rates by 50% to restore profitability

Readers Poll

Most Read in International

Sign up now for free access to this article and much more.

If you are already registered with Business Insurance, click here to Login

Please tell us a bit more about yourself in order to continue

About

Advertise

Reprints and Licensing

Resources