LONDON (Reuters) – Reinsurers could raise premium rates in the “mid-single digit” percent range at the key Jan. 1 renewal season, given pressures from inflation, war in Ukraine and capital market volatility, analysts at S&P Global said on Tuesday.
“We do expect rate rises to continue,” S&P Global lead analyst for insurance Ali Karakuyu told a media briefing.
“Depending on the segments that you are looking at, the rate rises will vary, but on average, I’d say mid-single digit.”
Reinsurers such as Swiss Re, Munich Re and the Lloyd’s of London market help insurers share the risk of disasters in return for part of the premium.
Reinsurers meet in Monte Carlo next week for their annual conference for the first time since 2019, after the event was halted during the COVID-19 pandemic.
(Reporting by Carolyn Cohn; Editing by Alex Richardson)
