Primary property and casualty insurers will need to increase rates in 2010 as they will continue to see poor returns on their investments next year, Swiss Re's top economist predicts.
Chief Economist Thomas Hess said that while the non-life insurance industry fared well through the worst of the financial crisis, there "will need to be a hardening in the primary market."
His comments came in his company's annual presentation by economists on the current and future direction of the global economy.
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