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Property reinsurance rates rise 5% at January 1, 2020 renewals: Guy Carpenter

LONDON (Reuters) – Global property catastrophe reinsurance rates rose by around 5% at Jan. 1 2020 renewals, reinsurance broker Guy Carpenter, a unit of Marsh McLennan said on Thursday.

Businesses which had not been hit by losses in some cases saw “modest rate decreases”, while other regions saw sharp rises “led by successive years of losses”, Guy Carpenter said in a statement.

Regions such as Florida have suffered heavy property losses due to hurricanes in recent years.

(Reporting by Carolyn Cohn; editing by Simon Jessop)

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