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Hannover Re, Swiss Re see lower disaster reinsurance prices

May 8, 2014 - 6:00am


Hannover Re and Swiss Reinsurance Co. Ltd. said they saw reduced prices in natural catastrophe reinsurance and April renewals, Reuters reported.

They said they would concentrate on profitable business areas instead of premium volume. Factors that have affected reinsurers' pricing power include fewer major natural calamities and competition from pension funds, which are pumping in money into the reinsurance sector, reports Reuters.

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