REINSURANCE

Reinsurers, which insure insurance companies against excessive risks, are likely to raise premium rates in the next few months, given pressures from inflation, the war in Ukraine, climate change and capital market volatility, ratings agency analysts said this week, according to Reuters. Reinsurers such as Swiss Re, Munich Re and the

Lloyd’s of London have been raising rates in the past few years to recoup losses from natural catastrophes such as hurricanes and wildfires, the Covid-19 pandemic and from sanctions on Russia and counter-measures due to the Ukraine war. “We do expect rate rises to continue,” lead analyst for insurance Ali Karakuyu told a media briefing.