U.S. property reinsurance rates rise up to 30% at July renewals: Willis

Via Reuters Finance

FILE PHOTO: 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 (Reuters) – Property reinsurance rates in the United States rose as high as 30% 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 35%, it added.

Reporting by Simon Jessop; editing by Dhara Ranasinghe

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