No effect on marine reinsurance rates after Tianjin explosions: Guy Carpenter

Chris Klein, an official at Guy Carpenter & Co. L.L.C., has said that the Tianjin explosions last August have had no effect on the reinsurance rates in the marine sector, reports Reuters.

Marine reinsurance prices in January are also down in range of 5% to 20% from a year ago, Mr. Klein said. Guy Carpenter said that rates were depressed due to rising competition in reinsurance sector and slower activity in China.

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