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Premium rates to continue to decline amid soft pricing: Fitch

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A report by U.K.-based Fitch Ratings Ltd. predicts continued soft rates for the global insurance industry this year, Vanguard reported. The soft pricing is driven by a continued over supply of capital, sluggish reinsurance purchasing and several years of below-average catastrophe claims, despite catastrophe losses rising to their highest level in 2016 since 2012, the report said.

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