June 1 rates expected to be up 10% – 30% for loss-affected accounts
Thursday, 06 06 2019, Category: Insurance and Reinsurance, Country: World
Meetings with insurers and reinsurers in Bermuda points to an expectation of average mid-year reinsurance renewal price increases of 10% – 30% for loss-affected accounts, according to analysts at Morgan Stanley.
After a prolonged period of falling rates, heavy catastrophe losses and a muted rate response, reinsurers were hopeful of a significant response at the June 1st, 2019 reinsurance renewals.
Following discussions with Bermudian re/insurers, analysts note that property catastrophe reinsurance pricing continued to gain traction at the mid-year renewals, with reinsurers staying firm on pricing, leading to an expectation of average rate increases of between 10% and 30% for loss-affected business.