Munich Re
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The European reinsurance chief says interest rates and loss experience drive the carrier’s hardening stance. -
The deal follows an earlier fronting agreement supported by Markel, Nephila and RenaissanceRe.
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Major reinsurance carriers like Munich Re, Hannover Re and MS Amlin are significant providers to some of the state's regional carriers, analysis suggests.
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Retro capital is being trapped, but cyber and other non-cat risks show promise.
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CUO Golling calls for government-backed national pools with parametric triggers and mandatory coverage.
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The market is also interested in more liquid cat bonds, the reinsurer said at a press conference on Monday.
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The carrier will also take low triple-digit-million euro hit from Laura, Hanna and Isaias.
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The top 10 carriers continue to write the lion’s share of global premiums.
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He replaces Oliver Horbelt who becomes CFO of Munich Re of America.
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Major losses from natural catastrophes were comparatively low at EUR167mn for the quarter.
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Six-month figures beat long-term average of $20bn with North American natural disasters driving the majority of the losses.
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Lower-than-average major losses helped offset nearly $800mn in pandemic-related claims.
