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U.K.-based Fitch Ratings Ltd. said that continued competitive pressures, the effects of U.S. tax reform and catastrophe losses in 2017 are likely to lead to more mergers and acquisitions among insurers and reinsurers especially in Bermuda this year, Bernews reported. The ratings agency said that an increase in scale and diversification resulting from mergers could increase the resilience of insurers to market challenges, however, merger execution and integration risks could pose risks to profitability.