Fitch Ratings analysts forsee double-digit premium rate rises for property catastrophe cover in 2022, following an insured loss total of close to $100 billion in 2021 and the prospect of natural catastrophe claims increasing in frequency and severity.
In fact, reinsurance rates across catastrophe-related lines of business are expected to rise as much as 10% at the January renewals, supporting what Fitch Ratings analysts see as a sector with a positive outlook for 2022.