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International

Reinsurance costs pushing primary insurance premiums higher

January 24, 2023 Reprints

The Bahamas Insurance Association said that property and casualty premiums could increase by 15%-20% this year due to the current reinsurance market conditions, The Tribune reported. Insurers such as Bahamas First General Insurance Co. and RoyalStar Assurance Ltd. have seen a 20% to 30% increase in their reinsurance costs.

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Reinsurance costs pushing primary insurance premiums higher

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