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South Africa: Bad weather takes toll on short-term insurers

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Extreme weather events are diminishing the prospects of short-term insurers in South Africa, BDlive reported.

Dewald van den Berg, director at PricewaterhouseCoopers L.L.P., said insurers are trying to improve their catastrophe modelling. However, hail damage remained the biggest problem, Mr. Berg said. The country's short-term insurers recorded a 12% earnings decrease in 2013 earnings from the year prior.

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