Results
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The reinsurer’s large losses were down 5% to EUR1.6bn for the year. -
Estimates were revised from $845mn to $740mn.
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ILS platform London Bridge II has had a good year as volumes reached $750mn, the CFO said.
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The firm reallocated from short-tail lines amid social inflation concerns.
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The company proposed a dividend of EUR1.8 per share for 2023.
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CEO Hussain said third-party capital in 2023 remained flat.
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The firm’s assets under management dropped to $1.6bn, as a capital return more than offset new inflows.
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The closing of the Interboro sell-off was postponed to nearer the end of the year.
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The vehicle’s loss ratio improved 66 percentage points YoY.
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Munich Re said it saw no reason to lower its expectations.
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The carrier announced a capital repatriation plan of EUR3.5bn.
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The parent also expects the ILS platform’s AuM to grow.
