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Swiss Re Ltd. renewal business fell 18% in January due to the soft reinsurance market and changing business models across the insurance industry, Artemis.bm reports. The reinsurer renewed $8.5 billion worth of business out of a possible $10.3 billion. The reinsurer said its renewals fell due to "disciplined underwriting" as it tried to maximize profits. It also cited a reduction in capacity across almost all of its market segments.