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Matthew may cost insurers and the reinsurers who help them backstop claims as much as $8.8 billion, according to AIR Worldwide estimates. (AP Photo/Charlie Riedel)

(Bloomberg) – Hurricane Matthew will have a limited impact on the years-long decline in rates for reinsurance, according to industry representatives, who predict primary insurers will push back against price increases at the start of 2017.

“I expect a strong likelihood for resistance to further price cuts,” Ludger Arnoldussen, a member of Munich Re’s management board, said at a conference in Baden Baden, Germany, on Monday. “It all doesn’t look very promising if you want to be a player in the reinsurance field.”

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