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ZURICH (Reuters) – Swiss Re, the world’s second-biggest reinsurer, said it saw prices rising further in a continued reaction to the unusually high number of natural catastrophes last year, as it posted an unexpected quarterly profit.

Huge natural catastrophes in 2011, including the Japanese earthquake and tsunami and flooding in Thailand, have allowed insurers, who for years had to grapple with low bond yields, to charge higher prices on property and casualty policies.

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