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Looking ahead, it is interesting to observe the split of opinion on the anticipated number of non-life run off deals by region. In North America, most respondents anticipate an increase in deal numbers, reflecting confidence in this market. In continental Europe, and against the backdrop of a relatively quiet 2023, we see tentative optimism from respondents. In contrast, respondents recognise the relative maturity of the UK and Irish markets with most expecting similar or fewer deals in the next two years.
Overall, there is a sense there are tailwinds to focus on as the legacy sector continues to attract new capital and new market entrants.
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