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Reinsurance rates likely to see some hardening at upcoming renewals

Posted On: Mar. 22, 2023 9:41 AM CST

Ankur Nijhawan, chief executive at AXA France Vie SA’s India Reinsurance branch, said that reinsurance rates are expected to see an average of 10% to 25% increase during India’s upcoming renewals cycle in April, BQ Prime reported. Amit Agarwal, managing director, Howden Insurance Brokers India Pvt. Ltd., the rates may increase as much as 25-30% for insurers that have been going through tough times in terms of their underwriting portfolios.