Munich Re
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In a preliminary report, the reinsurer said its second-quarter net profit will come in ahead of a EUR808mn consensus.
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Plus the implications of the X-Press Pearl sinking and all the top news from this week.
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State-backed carrier GIC Re faces competition as the European Big Four press into the subcontinent.
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The SIAB has abandoned the project, with no other syndicates currently involved.
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Nicholas Hawkins, Chubb’s Peter Kelaher and Munich Re’s Scott Hawkins take director roles at the Australian industry organisation.
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Rate increases are tailing off, but the carriers’ reports reveal divergent growth strategies.
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The CFO also highlights a total EUR1.7bn Covid-19 related reserve charge for contingency and EUR1bn for BI.
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The carrier lifts premium by 17.1% at the April renewals.
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The outgoing co-founder has worked at the reinsurer since 2009 and will depart in several months' time.
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Primary unit Ergo was among the positive drivers that eclipsed above-average, Texas-storm-driven major losses within P&C re.
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Binding insurers include Chubb and AIG, with reinsurance from Munich Re.
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Hannover Re has emerged as an outlier by reducing its overall 2020 dividend, but its growth plans may alleviate disappointment about the policy.
