An olefin polymerization process wherein monomer, diluent and catalyst are circulated in a continuous loop reactor and product slurry is recovered by means of a continuous product take off. The continuous product allows operating the reaction at significantly higher solids content in the circulating slurry. In a preferred embodiment, the slurry is heated in a flash line heater and passed to a high pressure flash where a majority of the diluent is separated and thereafter condensed by simple heat exchange, without compression, and thereafter recycled. Also an olefin polymerization process operating at higher reactor solids by virtue of more aggressive circulation.