As early as October 2021, the credit rating agency Fitch has been predicting double-digit increases in property catastrophe rates for 2022. Beginning with contracts renewing in January 2022, catastrophe-related lines of business can expect to see reinsurance rates increase by more than 10 percent, per Fitch.

This follows a year of insured losses approximating $100 billion in U.S. dollars, and expectations of an increase in both frequency and severity of natural catastrophe claims.

Around two-thirds of nonfacultative reinsurance renews in January, with strong focus on the European marketplace, and because of severe losses from storms and flooding in Europe, Fitch anticipates that, "…price rises should be most pronounced in Central Europe."