Disaster reinsurance rates are likely to rise by more than 10% during the year-end renewal, credit rating agency Fitch Ratings Inc. said on Monday. and the degree of difficulty are the main drivers behind the expected increases for renewals on January 1, Fitch said. Cyber-liability and reinsurance companies have also suffered losses, the company said in a comment on the sector.
"We expect 2022 to be the fifth year in a row of price increases, although we expect growth to be slower than 2021 because non- "Loss-affected industries are likely to show a broadly stable price trend," said Fitch.
Interest rate hikes make the reinsurance sector more resilient to the effects of climate change, Fitch said. [1