LONDON (Reuters) – Reinsurers are likely to raise premiums to ‘100% in the key renewal season’ on Jan. 1 given pressures from inflation, the Ukraine war and capital market volatility, analysts at S&P Global said. Mid-single digit” percentage range (NYSE: SPGI) said Tuesday.
“We do expect interest rates to continue to rise,” Ali Karakuyu, chief economist for S&P Global Insurance, told a media briefing.
“The rate increases will vary depending on the segment you’re looking at, but on average, I’d say mid-single digits.”
Reinsurers such as Swiss Re (OTC: SSREY), Munich Re and Lloyd’s of London help insurers share disaster risk in exchange for a portion of the loss premium.
Reinsurance company holds annual meeting in Monte Carlo next week, first meeting since 2019 Pandemic.