Global Reinsurance Rates Rise Sharply Amid Disasters and Conflicts
- U.S. property catastrophe reinsurance rates rose up to 50% on Jan 1 for policies previously hit by disasters
- Rates doubled in Turkey due to earthquakes there and in Syria
- Global property catastrophe reinsurance rates rose up to 30% for loss-hit policies
- Insurers reconsidering breadth of cover in conflict hotspots
- War risk premiums for ships entering Red Sea up tenfold since Israel-Hamas conflict