Average price for capacity was up very marginally, by just under 1 percent. This increase does not entirely reflect actual price movements, but does reflect the additional capacity bought at the higher ends of programs. On a risk-adjusted basis, reinsurance rates were up 2.5 percent to 12.5 percent, with a market average increase on renewal capacity of approximately 6.5 percent. Higher prices tended to be largest at the higher ends of programs.
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