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The brunt of an expected one-off reserve charge of approximately £5.8 billion due to the Ogden personal injury discount rate cut may be borne by reinsurance, according to market estimates. While reinsurers told Intelligent Insurer that they are adequately reserved they are preparing for material rate increases.
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Ogden, Rates, Personal Injury, Munich Re, R+V, Swiss Re, Hannover Re, Motor Reinsurance, UK, Europe