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Pricing for nat cat covers set to increase at April 1 renewals: Aon

Posted On: Mar. 31, 2023 9:51 AM CST

Market conditions

George Attard, chief executive for Asia Pacific market at Aon PLC’s reinsurance solutions business, said that the pricing for natural catastrophe covers in the region is expected to increase significantly at the April 1 reinsurance renewals and retention levels will also increase, Artemis reported. Mr. Attard added that some areas of the market have witnessed more significant price hikes when compared to others, with property catastrophe risks a clear area for rate increases at the April renewals.