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The worst reinsurance market in memory looks set to carry into 2015, industry executives said.
Swiss Re Ltd., the worlds second- biggest reinsurer, agreed to buy the U.K. pensions business of HSBC Holdings Plc for an undisclosed sum.
Swiss Re Ltd. fell the most in six months in Zurich trading after Willis Re said reinsurance prices slid by as much as 25 percent in the Jan. 1 renewals round.