India’s property cat premiums rise by double digits at renewals

Analysts at U.K.-based Aon PLC said that the property catastrophe pricing in India grew by double digits at the April reinsurance renewals and the risk-adjusted rate increases for catastrophe excess of loss almost tripled the increases at the April 2022 renewals, Reinsurance News reported. The analysts also noted that commissions for proportional covers came under increased pressure at the renewals, while reinsurers moved to decrease event limits and increase loss participation clauses.