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Thomas Blunck, member of Munich Reinsurance Co.’s management board, said that insurance-linked securities capital trapped after Hurricane Ian could significantly affect the availability of reinsurance and retrocession capacity at the upcoming January renewals, Artemis reported. January renewals are particularly important for the European underwriters and this reduction in ILS capacity, along with the reduced availability of traditional reinsurance capital amid economic volatility, will affect the European reinsurance renewals, he said.