Munich Re
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The carrier cancelled its share buy-back plan in order to reinvest capital into reinsurance growth. -
Six-month figures beat long-term average of $20bn with North American natural disasters driving the majority of the losses.
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The consortium plans to offer cover triggered by WHO public health emergency declaration.
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Lower-than-average major losses helped offset nearly $800mn in pandemic-related claims.
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Carrier will not publish profit target for 2020 after March withdrawal.
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Munich Re Syndicate has appointed Rob McAdams as its new head of marine, replacing Simon Parnell, who is retiring after 21 years at the company.
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The experienced underwriter replaces Simon Parnell, who is retiring after a long career at the firm.
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The German reinsurer’s performance “will decline” this year amid Covid-19 turmoil.
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The carrier says the response and recovery after events could be hampered by Covid-19.
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The Digital Partners CEO says funding struggles among small InsurTechs present acquisition opportunities for the carrier’s larger partners.
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The four continental European reinsurers expect Covid-19 to accelerate price momentum despite divergent approaches at 1.4.
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