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While upward movement in property pricing was limited to localized activity, the effects on profitability from losses in this sector put pressure on other lines to achieve or maintain self-sustaining levels. (Photo: Shutterstock) While upward movement in property pricing was limited to localized activity, the effects on profitability from losses in this sector put pressure on other lines to achieve or maintain self-sustaining levels. (Photo: Shutterstock)

The overall impact of catastrophe losses on property rates was muted for reinsurance renewals at the beginning of 2019, but the fourth highest annual catastrophe loss year on record did create questions over pricing adequacy, underwriting strategy, and the amount of capital available, Guy Carpenter & Company LLC, a wholly owned subsidiary of Marsh & McLennan Companies, said in a recent statement.

Denny Jacob

Denny Jacob is an associate editor for NU PropertyCasualty360. Contact him at djacob@alm.com.

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