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AIG Europe boss expects slowdown in insurance rate rises -Breaking

by Mike Robinson

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© Reuters.

LONDON (Reuters] – Insurance premiums are expected to increase in Europe and Africa, as well as the Middle East, in 2022. However, it will likely be slower than in the past, AIG Europe chief executive said Friday at the Reuters Future of Insurance Europe conference.

Thomas Lillelund, a journalist, stated that rates will rise across the majority of our product lines, although not all. He said this in an interview.

According to him, cyber-attack protection will be one of the fastest growing business lines.

As insurers face hefty claims due to issues like floods, wildfires, cyber attacks or cancelling events caused by the COVID-19 pandemic, insurance rates have been on the rise.

Adrian Cox (the boss of Lloyd’s of London insurer Beazley) earlier stated that rate increases were slowing in some areas of Beazley’s portfolio, but he didn’t give any further information.

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