CATASTROPHES SET TO DRIVE 2020 REINSURANCE RATES HIGHER

Experts believe that big insurance losses from hurricanes, wildfires and other natural disasters over the past two years are set to push reinsurance renewal rates higher in January 2020. After failing for several years due to competition and fewer natural disasters, renewal rates have started to climb but projected to rise on an average by as much as 5% next year. However, as Hurricane Dorian ravages the Bahamas and bears down on the United States S&P Global Ratings Inc. said some rates could jump by much more than that.

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