Munich Re
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It is understood that Ascent is currently in negotiations with a number of new potential lead markets. -
The new coverage marks the first time that sovereign debt repayments have been protected by a parametric catastrophe clause.
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Swiss Re, Munich Re, Hannover Re and Scor have set out divergent strategies on cat as volatility increases and the retro market seizes up.
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Executives said they were surprised that underwriters had staged more of a return than brokers.
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Munich Re CFO Christoph Jurecka reaffirmed the carrier’s commitment to cat business and revealed an expectation of further price increases in 2022.
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The reinsurer revised its full-year P&C CoR to 100% after third-quarter storms.
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Everest Insurance head of specialty casualty will transition to the reinsurance division, reporting to Beggs.
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The sale represents a 4% stake in the UK motor insurer, according to Jefferies.
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Alan Norris’s colleague Ian Ritchie has joined Munich Re Syndicate after Talbot exited contingency following heavy pandemic losses.
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The preliminary result was achieved despite EUR600mn losses from Bernd damages, as well as EUR1.2bn losses from Hurricane Ida.
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The carrier also cited increasing continental cyber losses as a factor in continued market hardening.
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Munich Re’s venture capital arm Munich Re Ventures has closed a $500mn Munich Re Fund II to invest in early-stage companies.
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