European reinsurers defend January renewals
German reinsurers Munich Re and Hannover Re were bullish on the outcome of the January renewals as they released preliminary results last month, although both warned there was no widespread pricing reaction to last year's catastrophe losses.
Indeed, Munich Re's chief financial officer Jörg Schneider said that the firm did not expect to see a return to the days of broad-based market turns.
Speaking on an analysts' call, Schneider said that while market cycles were still there, they would be...
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