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Increase in government levies, reinsurance costs to lead to rise in premiums: Official

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Ray Brott, partner at New Zealand-based insurance broker Emerre and Hathaway Insurances Ltd., said that insurance premiums are likely to rise over the next two years due to increases in government levies and reinsurance costs, Gisborneherald.co.nz reported. "In addition to this, there are increased reinsurance costs due to the numerous disasters both in New Zealand and around the globe," he added.

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