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flag Global insurance rates drop for first time since 2014, with property and financial lines seeing declines.

flag Global insurance rates have dropped for two consecutive quarters, the first such decline since 2014, following seven years of increases. flag The UK and Pacific regions saw the largest decreases at 5% and 8%, respectively. flag Property insurance rates globally fell by 3%, while financial lines rates declined by 6%. flag Despite this, casualty rates increased by 4%. flag The trend is attributed to intensified competition, especially in cyber and commercial property insurance markets.

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