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High inflation & spikes in interest rates cause challenging renewal season: Aon

January 31, 2023

Aon’s January Reinsurance Market Dynamics report: Macro Conditions: Extreme Volatility, cites 2022 as being tricky for the industry, with inflation hitting multi-decade highs, as well as interest rates rising to an almost “unprecedented pace”.

The report also noted that equities had their worst year since 2008, and for the first time in 20 years, the euro hit parity with the dollar.

Aon stated that all of these factors contributed towards making what was always likely to be a complex renewal season “even more challenging”.

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