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Analysts at U.K.-based advisory firm Peel Hunt L.L.P. said that although the insurance and reinsurance rates in the Lloyd's of London market declined at the Jan. 1 renewals, they remained technically adequate, Artemis.bm reported.
The analysts said that the normalized returns in the market are nearing cost-of-capital across the Lloyd's sector.
The Lloyd's market experienced rate declines of 2.5% to 15% across reinsurance lines in January.