Reported 4 days ago
Reinsurance broker Guy Carpenter reports that global property catastrophe reinsurance rates will drop between 5% and 15% on January 1 for businesses without losses, signaling a more competitive market after years of rate increases. While reinsurers have previously raised prices due to higher losses from wars and natural disasters, they are now more inclined to take on risk due to strong profits. However, portfolios facing catastrophe losses in the U.S., Europe, and Canada may see unchanged rates or increases up to 30%.
Source: YAHOO