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Australia sees late January property reinsurance renewals

Posted On: Jan. 6, 2023 9:31 AM CST

Reinsurer Gallagher Re said that Australia witnessed extremely late reinsurance renewals with very few reinsurers willing to provide quotations during the Jan. 1 renewal season, Asia Insurance Review reported. Reinsurers continued to push higher prices and were ready to withdraw from business that were unable to meet their requirements.