Munich Re
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The underwriter is one of the most respected in the market and leads a substantial amount of Gulf of Mexico business. -
This publication’s review of H1 disclosures shows how listed (re)insurers’ nat cat losses have tallied with aggregate projections.
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Staff movement is high in the cargo space as carriers look to expand in an improved rate environment.
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In their messages at the Rendez-vous de Septembre, Munich Re, Hannover Re, Swiss Re and Scor signalled a ripe environment to hike prices and adjust terms.
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The German carrier telegraphed continued pricing discipline into 2023 as carriers grapple with reduced available capital.
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The move is the latest in a series of personnel changes in the construction space.
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Bernd Luckey’s appointment comes amid a number of senior moves within the construction market.
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Swiss Re, Munich Re, Hannover Re and Scor have set out their strategies on inflation, pricing and Ukraine.
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The carrier said pricing on property quota share, particularly in the US, was not keeping pace with inflation.
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The carrier reported EUR90mn of Ukraine losses for the second quarter, bringing the H1 total to EUR200mn.
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US severe thunderstorms caused insured losses of $17bn during the first half.
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The loss comes hard on the heels of a large BI claim stemming from the Freeport LNG refinery.
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