Reinsurance rates likely to see some hardening at upcoming renewals

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.