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Member, Beacon International Group, Ltd.
Swiss Re Ltd. said that reinsurance prices will continue to fall in 2016 as premiums hit their lowest level in four years due to competition for customers from hedge funds and other sources of alternative capital, reported Bloomberg.
"Price reductions have slowed down but there's still pressure," said Edouard Schmid, head of the property & specialty unit at Swiss Re. Lower than normal claims are also drawing competitors, Bloomberg reports.