More insurance and reinsurance rate movements could be on the way because of falling profitability and evidence of under - regulation , according to AXA plc ’s spokesman Greg Hendrick . He said everything pointed to a persistent upward pressure on rates , and that recent rate increases have been a sign of the industry realising rates have been too low . In addition , he said poor results and rising losses , from factors including man - made disasters , are making the situation worse . Brokers and clients , he added , are now accepting that the price of risk has gone up and that more needs to be paid .
More insurance and reinsurance rate increases could be on the way because of falling profitability and evidence of under-pricing, according to AXA XL’s CEO Greg Hendrick. He said everything pointed to a persistent upward pressure on rates, and that recent rate movements have been a sign of the industry realising rates have been too low. In addition, he said poor results and rising losses, from factors including man-made events, are making the situation worse. Brokers and clients, he added, are now accepting that the price of risk has gone up and that more needs to be paid.