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Reinsurance Price Increases Support Improving Outlook for Sector: Fitch

October 26, 2021

Reinsurers’ plans to continue raising premium rates during the January 2022 renewals are likely to contribute to stronger profitability and an improving sector outlook, according to Fitch Ratings.

Fitch said it expects double-digit percentage premium rate rises for property catastrophe cover in 2022 due to the excess losses in 2021 and the prospect of higher natural catastrophe claims frequency and severity in the future. This would make 2022 the fifth successive year of price rises.

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