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(Reuters) – Insurance rates continued to rise in the third quarter for both businesses and individual customers, extending the pricing power that developed late last year, insurer Travelers Cos Inc said on Tuesday.

In a slide presentation prepared for a Barclays financial services conference, Chief Executive Officer Jay Fishman said business insurance rates were up an average of 7.7 percent so far in the third quarter, against gains of 7.2 percent last quarter.

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