Property cat reinsurance rates up 60% in two years

Reinsurance broker Guy Carpenter & Co. LLC said that property catastrophe reinsurance rate-on-line index increased 60% in the last two years in Continental Europe, the highest since 2007, Artemis reported. Rates increased 30% at the January renewals after an increase of 23% at the January 2022 renewals, partly stimulated by the significant flood losses seen in Germany.