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...A global index of property catastrophe reinsurance pricing compiled by Guy Carpenter, another broker, fell 11 per cent, the biggest drop at a new year renewal season since 1999....
...Such brokers act as go-betweens between insurance companies wanting to manage their risk and reinsurers such as Berkshire Hathaway, Munich Re and Lloyd’s of London syndicates....
...“They’re smart guys, Berkshire – a lot of us were scratching our heads asking why on earth they have done that. “You’ve got to be able to select risks in our business,” he said....
...Additional reporting by Alistair Gray in London...
...Sims was the man who built up Cavaghan & Gray, the fish-to-sausages group, eventually selling it to Northern Foods for £79m in 1998....
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