Munich Re
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Rate increases are tailing off, but the carriers’ reports reveal divergent growth strategies. -
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.
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The reinsurer says it is in discussion with clients and industry trade bodies on the issue.
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The product will initially be available in the US, with scope to expand internationally at a later date.
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Pressed for time? This selection of articles will bring you up to speed fast:
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The carrier is “very optimistic” on Japanese and US renewals this year, and outlined plans for growth in various lines and regions.
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Hannover Re and Fidelis provided significant capacity on the Munich Re-led programme.
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