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Tough renewals may have damaged client relationships

Posted On: Jan. 6, 2023 9:30 AM CST

Analysts at Gallagher Re have warned that many of the positive outcomes for reinsurers at the Jan. 1 renewals may have come at the expense of damaged client relationships and reduced confidence from certain buyers in reinsurance products, Reinsurance News reported. Reinsurers generally refused to show flexibility and European property was the most strained line of business at the renewal with clients mostly agreeing to reinsurers requests.