Fitch changes outlook on global reinsurers to neutral, analyst says
4:42 am Thursday, September 05th, 2024
LONDON (Reuters) – Ratings agency Fitch has changed the outlook on global reinsurers to neutral from improving, saying it expected the sector to remain resilient but that prices had probably passed their peak, Fitch analyst Manuel Arrive said on Thursday.
Reinsurers insure the insurers and have raised their rates in recent years, in response to losses from the COVID-19 pandemic, wars and natural catastrophes. But industry sources see that cycle starting to turn.
Reinsurers meet for their annual conference in Monte Carlo next week.
(Reporting by Carolyn Cohn, editing by Kirstin Ridley)
