US property reinsurance rates rise up to 30per cent at July renewals – Willis

US property reinsurance rates rise up to 30per cent at July renewals – Willis

Property reinsurance rates in the United States rose as high as 30per cent during renewals in June and July, following years of heavy natural catastrophe losses, data from broker Willis showed on Wednesday.

New York City during the coronavirus outbreak
Apartments with lights on are seen in Tribeca during the outbreak of coronavirus disease (COVID-19) in Manhattan, New York, U.S., April 4, 2020. Picture taken April 4, 2020. REUTERS/Caitlin Ochs

LONDON: Property reinsurance rates in the United States rose as high as 30per cent during renewals in June and July, following years of heavy natural catastrophe losses, data from broker Willis showed on Wednesday.

Rates in the hurricane-prone Florida region, rose by as much as 35per cent, it added.

(Reporting by Simon Jessop; editing by Dhara Ranasinghe)

Source: Reuters

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