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Soft reinsurance pricing to prevail globally this year: Fitch

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A report by U.K.-based Fitch Ratings Ltd. said that premium rates would continue to decline this year, with soft pricing prevailing in the global reinsurance market, Business Day reported. The soft pricing is driven by a continued over-demand of capital, sluggish reinsurance purchasing and several years of below-average catastrophe claims, the ratings agency said.

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