Results
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Munich Re said it saw no reason to lower its expectations. -
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.
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The acquiring reinsurer will now run off the business.
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The rise was helped by performance fees at DaVinci.
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The reinsurer’s assets under management rose 14% to $3.3bn.
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Monthly cat losses were driven by two major events.
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Its property cat aggregate cover renewed with improved coverage.
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The carrier booked a reserve charge of $392mn for casualty insurance.
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The manager’s conservative strategy posted returns of 7.61%.
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The reinsurer said retro pricing had ‘moved slightly in our favour’ at 1 January.
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