Considering the existing rate hardening that has been created by the COVID-19 pandemic, this year’s record-breaking California wildfire season could spur further reinsurance rate increases, AM Best says. The 2020 wildfire season has affected coastal areas that do not usually burn and has seen the still-ongoing LNU Lightning Complex event and the SCU Lightning Complex… Continue reading 2020 California Wildfires May Lead to Further Spikes in Reinsurance Rates: AM Best
Tag: reinsurance rate increases
Swiss Re: More Rate Increases Expected for Sustainable Reinsurance Industry
Swiss Re expects further rate increases for loss-affected and underperforming businesses and broadly stable rates in other areas, amid continued capital abundance in the reinsurance market. To ensure a long-term sustainable reinsurance market, further rate increases are needed. The hurricane season that is now upon us highlights the importance of having prices that adequately reflect… Continue reading Swiss Re: More Rate Increases Expected for Sustainable Reinsurance Industry