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Australia: Premiums for nonlife products grew 7.1% in 2013, figures show

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Australia's insurance market had the biggest increase in premiums in the developed world, numbers from the Bank for International Settlements have revealed, The West Australian reports.

Premiums for nonlife products grew 7.1% in 2013 in the country.

It was followed by the United States, which saw a 4.4% increase.

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