Fitch Ratings Inc. said European non-life insurers are looking to increase prices to offset high claims inflation and reinsurance costs, but their ability to do so depends on local market dynamics, Reinsurance News reported. The firm expects non-life insurers in the U.K. and Italy to be able to push through the strongest price rises. It said that price increases in France, the Netherlands and Spain are unlikely to be as strong as in the U.K., Italy and Germany due to market competition and societal pressure.
