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Fitch Ratings Inc. has said that a pricing floor in the global reinsurance market has yet to be reached even though rates declined throughout 2015, reported Artemis.bm.
"The agency remains unconvinced that the slowing price reductions, reported at mid-year renewals for some major sub-classes, indicate that a floor has been reached, and that property reinsurance rates have continued to fall in the second half of 2015," the rating agency said.