Posted on 13 Sep 2010
Munich Re expects stable prices and conditions for its portfolio in the upcoming property-casualty reinsurance renewals.
Currently, there is sufficient capacity in all lines of business. Rates have improved significantly in lines of business hit by heavy losses, such as offshore energy and in the case of natural catastrophe covers in Latin America. Jeworrek: “The very heavy losses caused by the earthquake in Chile have shown how important it is to ask a price commensurate with the risk, even in years where losses are relatively light.” Munich Re will strictly adhere to this line. “Our financial strength is our most important asset. Growth without profitability is out of the question.”