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While some reinsurance market participants shared tales of early turbulence in the renewal process for Jan. 1, once the dust settled, both sellers and buyers got a little less than they bargained for, brokers reported. “It’s almost a situation now where I think everybody’s a little bit displeased with the outcome, which is probably an okay settling point,” said Timothy Gardner, global leader of property at Guy Carpenter in New York. “Clients obviously still feel like they’re paying too much. Reinsurers probably didn’t feel like they got quite what they wanted.”

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