Munich Re
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Analysis of financial data shows that the last decade has seen a marked increase in the proportion of premiums ceded by carriers in all sectors. -
In his new role, Michael Cusition will report to David Sankey, head of Marine at Atrium.
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Munich Re board member Stefan Golling said he expected market discipline to continue and expressed optimism about the US casualty market.
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The intensity of recent cat activity in the US, Japan and Europe means the market is positive for reinsurers, the executive said.
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Despite some rate tapering, the two German reinsurers are expanding premium, as all four carriers enjoyed North American rate increases.
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The reinsurer said European property reinsurance rates may "catch up" with global rates in the wake of the disaster.
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The carrier benefited from a shrinking of large losses and strong investment returns.
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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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