Munich Re

The firm said it benefited from favourable retro market conditions.

The carrier attributed the intensification of storms this season to climate change.

The carrier said it expected its Milton losses to fall below its EUR500mn ($537mn) Helene loss.

Assuming Munich Re takes roughly a 3% market share of hurricane losses suggests a ~$20bn industry loss for Helene.

The peril can no longer be considered secondary, according to Gallagher Re.

Over 75% of insured losses attributable to severe thunderstorms, flooding and forest fires.

CFO Christoph Jurecka declined to give a loss estimate for the Baltimore Bridge loss.

The carrier reported a P&C re net result up 44% to EUR1.8bn.

Proceeds from the sale will be used to fund sustainable development projects.

Munich Re said it saw no reason to lower its expectations.

The carrier announced a capital repatriation plan of EUR3.5bn.

Munich Re has renewed the first tranche of its Eden Re sidecar for 2024, listing $28.5mn of Class A notes on the Bermuda Stock Exchange, a roughly 62% increase on last year.