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Global insurance rates drop for first time since 2014, with property and financial lines seeing declines.
Global insurance rates have dropped for two consecutive quarters, the first such decline since 2014, following seven years of increases.
The UK and Pacific regions saw the largest decreases at 5% and 8%, respectively.
Property insurance rates globally fell by 3%, while financial lines rates declined by 6%.
Despite this, casualty rates increased by 4%.
The trend is attributed to intensified competition, especially in cyber and commercial property insurance markets.
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Las tasas de seguros mundiales disminuyen por primera vez desde 2014, con descensos en las líneas inmobiliarias y financieras.