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Lloyd’s underwriters expect continued property cat rate hikes

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Market conditions

 

A report by U.K.-based consultancy firm Peel Hunt LLP said that Lloyd’s of London underwriters expects continued increases in property catastrophe reinsurance rates, especially due to the reduction in available capacity after recent loss years, and tighter terms and conditions, Reinsurance News reported. Property catastrophe rates increased by approximately 10% at the recent January reinsurance renewals.

 

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