Reinsurance rates to continue to climb: KBW

Analysts at U.S.-based investment banking firm Keefe, Bruyette & Woods Inc. expect reinsurance rates to continue to increase significantly at the 2021 renewals, driven by rising insurance losses and costs this year, Artemis reported.

Insurance and reinsurance claims related to natural and man-made disasters have totaled around $30 billion, while COVID-19 pandemic-related claims have surpassed $25 billion.

Source: Business Insurance