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Brazil: Increased competition drives down aviation reinsurance rates

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Daniela Murias, director of Brazilian aviation at Allianz Global Corporate & Specialty, said increasing competition in the Brazilian reinsurance industry has pushed down rates much beyond than what the fall in aviation accident rate would account for, BNamericas reported.

The reported number of accidents in proportion to fleet size dropped to 0.77% during 2013, compared to 0.89% the previous year.

Ms. Murias said reinsurers maintain a keen interest in Brazil's aviation segment because of its solid growth potential.

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