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Fitch Ratings Inc. has said that nonlife insurers in Japan are likely to tighten their disaster risk management and may buy more reinsurance and catastrophe bonds in a bid to reduce catastrophe losses, reports Artemis.bm.
The polices are likely to focus on typhoon risks as there are increased chances of such storms in Japan, said Fitch. The ratings agency expects the insurers to increase premium rates for nonlife products from the financial year ending March 31 ,2016.