True hard reinsurance market arrives: Fitch

U.S.-based Fitch Ratings Inc. expects Bermuda reinsurers to improve underwriting performance this year as the January renewal season brought about a true hard market, The Royal Gazette reported.

Fitch added that the 2022 combined ratio will be about 93% to 94% for eight Bermuda-based reinsurers, versus 95.9% in 2021.