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According to a report from Gallagher Re, the hard aviation reinsurance market is expected to persist in the medium erm as it continues to recover from large losses caused by several challenges in the last few years, Reinsurance News reported. The market has logged significant losses over the last few years, including the impact of the COVID-19 pandemic, geopolitical shocks and macroeconomic challenges, prompting reinsurers to raise rates, while also introducing coverage restrictions.