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Florida rate rises squeezed as capacity fills gaps
US cat pricing hopes dampened as capacity eases Florida pressure
1 June 2009
Writers of US property cat reinsurance expecting rate rises in excess of 20 percent will be disappointed based on the evidence of the key Florida 1.6 renewal, as late arriving new capacity eased pricing pressures.
The Florida renewal - seen as a bellwether for the US cat market - had been billed as potentially one of the tightest in memory, as increased demand from a cut in limit available from the state's cat fund was met by supply wary of...
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