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Australian carrier adds premium rate movements in the first quarter continued the ‘strong trends’ reported in the second half of 2019
Consensus is that reinsurance renewals at 4/1 could see hikes of 40% to 50%
Can withstand adverse market conditions of Covid-19 and equity volatility
Extent of insured losses not yet known
The industry is hoping for very significant rate increases at April 1 on some contracts
Storm is fourth-largest Australian hail event of past two decades
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