Global property catastrophe reinsurance rates are expected to decrease by 5% to 15% on Jan 1

From Investing.com: 2024-12-30 02:10:59

Global property catastrophe reinsurance rates will decrease by 5% to 15% on Jan. 1 for books of businesses without losses, as the market becomes more competitive. Reinsurers have raised prices and excluded some business due to increased losses, but are now more willing to take on risk after strong profits.

Renewal outcomes at year-end show reinsurers’ positive property experience over the past two years. However, insurance portfolios with catastrophe losses in the US, Europe, and Canada will see unchanged rates or increases of up to 30%. Reinsurers insure the insurers and have adjusted rates accordingly based on risk levels.



Read more at Investing.com: Some global property catastrophe reinsurance rates to fall 5% to 15% on Jan 1, broker says By Reuters