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According to estimates provided by U.K.-based Aon PLC, global reinsurer capital declined by 15% year-on-year to $575 billion as at the end of December 2022 due to significant unrealized losses on investment portfolios, Reinsurance News reported. Aon also noted that most reinsurers reported significant premium growth in the year, driven by robust demand, rate increases and foreign exchange movements. However, above-average insured losses from natural catastrophes affected underwriting performance.