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Retrocession rates rise up to 35% for catastrophe-hit regions

Mudslide after Hokkaido earthquake in Japan

U.S.-based Willis Re Inc. said that retrocession rates for catastrophe-hit regions such as Japan increased up to 35% at the April renewals driven by insufficient retro capacity, reports. The reinsurance broker said that rates also increased up to 15% in regions which did not suffer catastrophe losses.

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