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Member, Beacon International Group, Ltd.
The hike in general insurance premiums is likely to continue in New Zealand, reported Interest.co.nz.
Switzerland-based Credit Suisse A.G. has said in a report that insurers have been turning to both their policyholders and shareholders as they have used up their reinsurance.
"Insurers have sufficiently passed on the increased costs to policyholders and the industry profitability is now at record levels," said Andrew Adams, a research analyst at Credit Suisse.