Reinsurance Rates Likely To Rise Due To Disasters, Demand
By Angela Childers (November 24, 2021, 2:48 PM EST) -- Demand for reinsurance continues to grow as primary insurers grapple with large payouts from natural disasters, which experts predict will lead to significant rate hikes in the sector that ultimately may boost profitability.
Fitch Ratings predicts that 2021 will be one of the most expensive years for reinsurers, due in part to damage to insured property caused by wildfires in California. (AP Photo/Marcio Jose Sanchez)
Capital in the global reinsurance market is estimated to be nearly $660 billion, but recent significant catastrophic events have led to substantial losses in the industry, according to a report from Aon PLC.
Fitch Ratings predicts...
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