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Member, Beacon International Group, Ltd.
Germany-based Hannover Re S.E. has said that there are signs of rate stabilization in the competitive reinsurance market despite market conditions remaining unchanged during January renewals, Artemis.bm reported.
"The situation on worldwide property/casualty reinsurance markets was essentially unchanged year on year," said the reinsurer. Hannover Re added that the reinsurance market demonstrated "indications that the decline in rates is bottoming out.”