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U.S. property-casualty reinsurance rates in the recent Jan. 1 renewal season held firm and closed in on the peak figures achieved last July, according to a recent report from Swiss Re.

In a presentation published on its Web site, the company said that a capacity crunch for U.S. catastrophe reinsurance in June and July of last year resulted in reinsurance premium increases of roughly 40 percent to several hundred percent in some cases.

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