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Latin America presents significant challenges for kidnap, ransom and extortion insurers

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Latin America, particularly Mexico, Africa and the Middle East present major challenges for kidnap, ransom and extortion insurers, a report from U.S. bank Wells Fargo said.

The bank said the KRE market is expected to be fairly competitive, BNamericas reported.

It said "we expect the rate and pricing environment to remain relatively flat to down in 2014."

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